B. Riley reissued their neutral rating on shares of Preferred Apartment Communities, Inc. (NYSE:APTS) in a report issued on Thursday, November 2nd. The brokerage currently has a $17.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $16.00.
Several other equities research analysts also recently issued reports on the company. BidaskClub downgraded Preferred Apartment Communities from a strong-buy rating to a buy rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded Preferred Apartment Communities from a strong-buy rating to a hold rating in a report on Tuesday, October 3rd. ValuEngine upgraded Preferred Apartment Communities from a buy rating to a strong-buy rating in a report on Friday, September 1st. Canaccord Genuity set a $20.00 price objective on Preferred Apartment Communities and gave the stock a buy rating in a report on Thursday, August 10th. Finally, FBR & Co reiterated a market perform rating and set a $16.00 price objective on shares of Preferred Apartment Communities in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Preferred Apartment Communities has an average rating of Buy and an average target price of $19.20.
Shares of Preferred Apartment Communities (APTS) traded up $0.33 on Thursday, hitting $21.95. The stock had a trading volume of 899,400 shares, compared to its average volume of 295,419. The firm has a market capitalization of $793.28, a price-to-earnings ratio of 15.12, a PEG ratio of 2.13 and a beta of 0.42. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.05. Preferred Apartment Communities has a twelve month low of $12.42 and a twelve month high of $22.71.
Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings data 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 10.49% and a return on equity of 2.78%. The company had revenue of $74.90 million during the quarter, compared to the consensus estimate of $67.86 million. equities analysts predict that Preferred Apartment Communities will post 1.45 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s dividend payout ratio (DPR) is -93.07%.
Several hedge funds and other institutional investors have recently made changes to their positions in APTS. Bank of New York Mellon Corp increased its stake in shares of Preferred Apartment Communities by 9.7% during the first quarter. Bank of New York Mellon Corp now owns 236,883 shares of the real estate investment trust’s stock worth $3,129,000 after purchasing an additional 20,995 shares during the period. Karp Capital Management Corp bought a new position in Preferred Apartment Communities during the 1st quarter worth $223,000. American International Group Inc. increased its stake in Preferred Apartment Communities by 7.4% during the 1st quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 966 shares during the period. Thrivent Financial For Lutherans bought a new position in Preferred Apartment Communities during the 1st quarter worth $870,000. Finally, Vanguard Group Inc. increased its stake in Preferred Apartment Communities by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 1,149,673 shares of the real estate investment trust’s stock worth $15,187,000 after acquiring an additional 56,507 shares during the period. Institutional investors own 44.89% of the company’s stock.
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.
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