Preferred Apartment Communities (NYSE:APTS) Upgraded at BidaskClub

Preferred Apartment Communities (NYSE:APTS) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday, November 14th.

A number of other research firms also recently commented on APTS. Zacks Investment Research upgraded Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Friday, August 4th. Canaccord Genuity set a $20.00 price objective on Preferred Apartment Communities and gave the company a “buy” rating in a research report on Thursday, August 10th. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, B. Riley raised their price objective on Preferred Apartment Communities from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.40.

Preferred Apartment Communities (APTS) traded up $0.08 on Tuesday, hitting $21.34. The stock had a trading volume of 565,889 shares, compared to its average volume of 524,599. The company has a market capitalization of $783.01, 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 has a 1-year low of $12.42 and a 1-year high of $22.71.

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

In related news, insider Daniel M. Dupree sold 17,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total transaction of $358,360.00. Following the sale, the insider now owns 99,564 shares of the company’s stock, valued at approximately $2,098,809.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 1,850 shares of company stock worth $39,349. 3.11% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in APTS. Public Employees Retirement System of Ohio bought a new stake in Preferred Apartment Communities in the 3rd quarter valued at about $2,022,000. Dana Investment Advisors Inc. bought a new stake in Preferred Apartment Communities in the 3rd quarter valued at about $2,536,000. Sterling Capital Management LLC bought a new stake in Preferred Apartment Communities in the 3rd quarter valued at about $905,000. Neuberger Berman Group LLC increased its holdings in Preferred Apartment Communities by 1.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 334,736 shares of the real estate investment trust’s stock worth $6,320,000 after purchasing an additional 3,356 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Preferred Apartment Communities by 59.7% during the 3rd quarter. California Public Employees Retirement System now owns 92,138 shares of the real estate investment trust’s stock worth $1,740,000 after purchasing an additional 34,438 shares in the last quarter. 52.29% of the stock is currently owned by hedge funds and other institutional investors.

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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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