Preferred Apartment Communities (NYSE:APTS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Preferred Apartment Communities (NYSE:APTS) from a sell rating to a hold rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Preferred Apartment Communities, Inc. is a real estate investment trust. The company acquire and operate multifamily properties primarily in the United States. It also acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily assets. Preferred Apartment Communities, Inc. is based in Atlanta, United States. “

A number of other research analysts have also issued reports on APTS. Compass Point lowered shares of Preferred Apartment Communities from a buy rating to a hold rating in a research note on Tuesday, November 5th. National Securities started coverage on shares of Preferred Apartment Communities in a research note on Monday, September 16th. They set a buy rating and a $18.00 target price for the company. Finally, DA Davidson lowered shares of Preferred Apartment Communities from a buy rating to a neutral rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $17.75.

Preferred Apartment Communities stock traded down $0.07 during midday trading on Monday, reaching $13.62. 345,295 shares of the stock traded hands, compared to its average volume of 280,107. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $14.12 and a two-hundred day moving average price of $14.75. The firm has a market cap of $627.14 million, a price-to-earnings ratio of 9.66 and a beta of 0.46. Preferred Apartment Communities has a fifty-two week low of $12.81 and a fifty-two week high of $17.00.

Preferred Apartment Communities (NYSE:APTS) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($1.06). The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $117.91 million. Preferred Apartment Communities had a net margin of 4.57% and a return on equity of 1.19%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Analysts anticipate that Preferred Apartment Communities will post 1.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.262 per share. This represents a $1.05 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date is Thursday, December 12th. Preferred Apartment Communities’s payout ratio is 74.47%.

In other news, CEO Daniel M. Dupree bought 10,000 shares of Preferred Apartment Communities stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.61 per share, with a total value of $136,100.00. Insiders own 1.61% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. KCS Wealth Advisory bought a new stake in shares of Preferred Apartment Communities during the 3rd quarter worth about $25,000. Sound Income Strategies LLC raised its position in shares of Preferred Apartment Communities by 82.3% during the 2nd quarter. Sound Income Strategies LLC now owns 2,215 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth about $42,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth about $48,000. Finally, Marshall Wace LLP bought a new stake in shares of Preferred Apartment Communities during the 1st quarter worth about $80,000. 57.76% of the stock is owned by hedge funds and other institutional investors.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.

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