Preferred Apartment Communities Inc. (NASDAQ:APTS) shares rose 3.1% during trading on Thursday . The stock traded as high as $14.28 and last traded at $14.28, with a volume of 106,682 shares traded. The stock had previously closed at $13.85.

APTS has been the subject of several recent research reports. Compass Point restated a “buy” rating and set a $16.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. FBR & Co restated an “outperform” rating and set a $17.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, August 11th. Wunderlich restated a “buy” rating and set a $15.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Thursday, August 4th. Finally, Canaccord Genuity restated a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, June 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Preferred Apartment Communities has an average rating of “Buy” and an average target price of $16.50.

The company’s 50 day moving average price is $14.66 and its 200 day moving average price is $13.32.

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 Zacks’ consensus estimate of $0.31. On average, equities analysts anticipate that Preferred Apartment Communities Inc. will post $1.28 EPS for the current year.

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

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