Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) rose 3% during mid-day trading on Tuesday . The stock traded as high as $14.97 and last traded at $14.95, with a volume of 74,553 shares changing hands. The stock had previously closed at $14.51.

APTS has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, July 5th. Canaccord Genuity reissued a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, June 28th. Wunderlich reissued a “buy” rating and set a $15.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 4th. Finally, Compass Point reissued a “buy” rating and set a $16.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a research note on Wednesday, August 3rd.

The firm has a 50-day moving average price of $14.66 and a 200-day moving average price of $13.12.

Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings results on Monday, August 1st. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Analysts predict that Preferred Apartment Communities Inc. will post $1.28 earnings per share for the current fiscal year.

In other news, Director Steve Bartkowski sold 16,045 shares of the stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $14.13, for a total transaction of $226,715.85. Following the sale, the director now directly owns 48,175 shares of the company’s stock, valued at $680,712.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail, and real estate related financing.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.