Preferred Apartment Communities Inc. (APTS) Given Average Rating of “Hold” by Brokerages

Preferred Apartment Communities Inc. (NYSE:APTS) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.33.

A number of research firms have commented on APTS. Zacks Investment Research raised shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. B. Riley reaffirmed a “neutral” rating on shares of Preferred Apartment Communities in a report on Wednesday, November 14th. Boenning Scattergood reaffirmed a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, November 6th. ValuEngine downgraded shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, JMP Securities reduced their price objective on shares of Preferred Apartment Communities from $20.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, December 4th.

Shares of APTS traded up $0.14 during mid-day trading on Friday, reaching $16.53. 12,827 shares of the stock traded hands, compared to its average volume of 319,455. The firm has a market capitalization of $656.79 million, a P/E ratio of 11.24, a P/E/G ratio of 1.41 and a beta of 0.44. Preferred Apartment Communities has a 12-month low of $13.14 and a 12-month high of $18.97. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.04.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $104.20 million for the quarter, compared to analysts’ expectations of $100.95 million. Preferred Apartment Communities had a net margin of 3.29% and a return on equity of 0.88%. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. Equities analysts expect that Preferred Apartment Communities will post 1.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.04 annualized dividend and a yield of 6.29%. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio is presently 70.75%.

In related news, Director William J. Gresham, Jr. sold 1,800 shares of the company’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $14.91, for a total value of $26,838.00. Following the completion of the sale, the director now owns 31,833 shares of the company’s stock, valued at $474,630.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.62% of the company’s stock.

A number of institutional investors have recently modified their holdings of APTS. Sei Investments Co. raised its position in Preferred Apartment Communities by 61.3% in the second quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 3,774 shares in the last quarter. Rhumbline Advisers raised its holdings in Preferred Apartment Communities by 12.9% during the 2nd quarter. Rhumbline Advisers now owns 46,315 shares of the real estate investment trust’s stock worth $787,000 after buying an additional 5,304 shares during the period. Bank of New York Mellon Corp raised its holdings in Preferred Apartment Communities by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 357,630 shares of the real estate investment trust’s stock worth $6,076,000 after buying an additional 9,955 shares during the period. SG Americas Securities LLC acquired a new stake in Preferred Apartment Communities during the 2nd quarter worth about $122,000. Finally, Swiss National Bank raised its holdings in Preferred Apartment Communities by 15.7% during the 2nd quarter. Swiss National Bank now owns 71,600 shares of the real estate investment trust’s stock worth $1,216,000 after buying an additional 9,700 shares during the period. Hedge funds and other institutional investors own 59.56% of the company’s stock.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.

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Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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