Preferred Apartment Communities (NYSE:APTS) Stock Rating Lowered by Zacks Investment Research

Preferred Apartment Communities (NYSE:APTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, 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 equities research analysts also recently weighed in on the company. Jonestrading lifted their target price on Preferred Apartment Communities from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, August 27th. B. Riley reissued a “neutral” rating on shares of Preferred Apartment Communities in a research report on Tuesday, September 28th. Colliers Securities restated a “buy” rating and set a $13.00 price target on shares of Preferred Apartment Communities in a research note on Tuesday, August 10th. Finally, JMP Securities raised their price target on shares of Preferred Apartment Communities from $11.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $13.63.

APTS stock opened at $12.40 on Tuesday. Preferred Apartment Communities has a twelve month low of $5.24 and a twelve month high of $12.85. The company has a market cap of $649.98 million, a PE ratio of -4.23, a price-to-earnings-growth ratio of 1.77 and a beta of 1.14. The business’s 50-day simple moving average is $12.02 and its 200 day simple moving average is $10.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.04.

Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Sunday, August 8th. The real estate investment trust reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.13. Preferred Apartment Communities had a return on equity of 0.90% and a net margin of 2.73%. On average, equities research analysts anticipate that Preferred Apartment Communities will post 0.98 EPS for the current year.

Several large investors have recently bought and sold shares of APTS. Marshall Wace LLP bought a new position in shares of Preferred Apartment Communities in the first quarter valued at approximately $80,000. BNP Paribas Arbitrage SA increased its holdings in shares of Preferred Apartment Communities by 44.3% in the first quarter. BNP Paribas Arbitrage SA now owns 23,437 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 7,193 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Preferred Apartment Communities by 7.4% in the first quarter. BlackRock Inc. now owns 3,783,099 shares of the real estate investment trust’s stock valued at $37,264,000 after purchasing an additional 259,619 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in shares of Preferred Apartment Communities in the first quarter valued at approximately $140,000. Finally, UBS Group AG increased its holdings in shares of Preferred Apartment Communities by 3.5% in the first quarter. UBS Group AG now owns 521,364 shares of the real estate investment trust’s stock valued at $5,136,000 after purchasing an additional 17,786 shares in the last quarter. Institutional investors own 49.56% of the company’s stock.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc engages in the acquisition and operation of multifamily properties in select targeted markets throughout the United States. It operates through the following segments: Multifamily Communities, Financing, New Market Properties, Preferred Office Properties, and Others.

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