Preferred Apartment Communities Inc. (APTS) Trading Down 2.3%
Preferred Apartment Communities Inc. (NASDAQ:APTS)’s share price was down 2.3% during trading on Thursday . The company traded as low as $14.40 and last traded at $14.42, with a volume of 65,869 shares. The stock had previously closed at $14.76.
A number of equities analysts have commented on APTS shares. Compass Point reiterated a “buy” rating and issued a $16.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, July 5th. Canaccord Genuity reiterated a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, June 28th. Wunderlich restated a “buy” rating and set a $15.50 price objective (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Thursday, August 4th. Finally, FBR & Co restated an “outperform” rating and set a $17.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Thursday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Preferred Apartment Communities presently has an average rating of “Buy” and a consensus price target of $16.50.
The stock’s 50-day moving average is $14.73 and its 200-day moving average is $13.16.
Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. Analysts expect that Preferred Apartment Communities Inc. will post $1.27 earnings per share for the current year.
In related news, Director Steve Bartkowski sold 16,045 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $14.13, for a total value of $226,715.85. Following the completion of 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 SEC, which can be accessed through this hyperlink.
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.
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