Preferred Apartment Communities Inc. (NASDAQ:APTS) shares were down 2.3% on Thursday . The company traded as low as $14.40 and last traded at $14.42, with a volume of 65,869 shares trading hands. The stock had previously closed at $14.76.

A number of research analysts have weighed in 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 research note 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 on the stock in a research note on Tuesday, July 5th. Canaccord Genuity reiterated a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, June 28th. FBR & Co reiterated an “outperform” rating and issued a $17.00 target price (up from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday. Finally, Wunderlich reiterated a “buy” rating and issued a $15.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.50.

The company’s 50 day moving average price is $14.75 and its 200 day moving average price is $13.17.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Equities research analysts forecast 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 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 transaction, the director now directly owns 48,175 shares in the company, valued at approximately $680,712.75. The sale was disclosed in a document filed 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.

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.