Preferred Apartment Communities, Inc. (APTS) Receives $19.75 Consensus PT from Analysts

Shares of Preferred Apartment Communities, Inc. (NYSE:APTS) have received an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.75.

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity set a $20.00 price target on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a research report on Thursday, August 10th. National Securities lifted their price target on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. B. Riley lifted their price target on shares of Preferred Apartment Communities from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd.

Shares of Preferred Apartment Communities (NYSE:APTS) traded down $0.20 during mid-day trading on Friday, reaching $21.14. 616,060 shares of the company’s stock were exchanged, compared to its average volume of 314,960. Preferred Apartment Communities has a 1 year low of $12.42 and a 1 year high of $22.71. The company has a market capitalization of $690.62, a PE ratio of 14.92, a PEG ratio of 2.10 and a beta of 0.43. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.05.

Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. analysts forecast that Preferred Apartment Communities will post 1.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be given a $0.25 dividend. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.73%. The ex-dividend date is Thursday, December 14th. Preferred Apartment Communities’s payout ratio is currently -94.00%.

In other Preferred Apartment Communities news, insider Daniel M. Dupree sold 17,000 shares of Preferred Apartment Communities stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.08, for a total value of $358,360.00. Following the sale, the insider now directly owns 99,564 shares in the company, valued at approximately $2,098,809.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 1,850 shares of company stock worth $39,349 over the last ninety days. 3.11% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Preferred Apartment Communities by 13.3% during the 2nd quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 845 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth about $113,000. Envestnet Asset Management Inc. bought a new stake in shares of Preferred Apartment Communities during the 3rd quarter worth about $118,000. Citigroup Inc. boosted its holdings in shares of Preferred Apartment Communities by 338.2% during the 2nd quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 9,131 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth about $189,000. Institutional investors own 52.51% of the company’s stock.

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Preferred Apartment Communities Company Profile

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.

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