Preferred Apartment Communities Inc. (APTS) CEO John A. Williams Buys 600 Shares of Stock

Preferred Apartment Communities Inc. (NASDAQ:APTS) CEO John A. Williams purchased 600 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $20.99 per share, with a total value of $12,594.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Preferred Apartment Communities Inc. (APTS) traded up $0.52 during trading on Tuesday, reaching $21.62. The company’s stock had a trading volume of 547,200 shares, compared to its average volume of 292,661. Preferred Apartment Communities Inc. has a 12 month low of $12.42 and a 12 month high of $21.70.

Preferred Apartment Communities (NASDAQ:APTS) last released its earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%. The business had revenue of $74.90 million during the quarter, compared to analyst estimates of $67.86 million.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.63%. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently -94.00%.

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Several hedge funds have recently made changes to their positions in APTS. Legal & General Group Plc increased its position in shares of Preferred Apartment Communities by 13.3% in the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 845 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Preferred Apartment Communities in the second quarter valued at $113,000. Envestnet Asset Management Inc. purchased a new position in shares of Preferred Apartment Communities in the third quarter valued at $118,000. American International Group Inc. increased its position in shares of Preferred Apartment Communities by 7.4% in the first quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 966 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Preferred Apartment Communities by 338.2% in the second quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 9,131 shares in the last quarter.

APTS has been the subject of a number of recent analyst reports. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub downgraded Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. B. Riley reissued a “neutral” rating and issued a $17.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd. Canaccord Genuity set a $17.00 target price on Preferred Apartment Communities and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Preferred Apartment Communities currently has a consensus rating of “Buy” and a consensus target price of $19.20.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

Insider Buying and Selling by Quarter for Preferred Apartment Communities (NASDAQ:APTS)

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