Preferred Apartment Communities Inc. (APTS) Trading Down 2%
Preferred Apartment Communities Inc. (NASDAQ:APTS) shares fell 2% during trading on Friday . The stock traded as low as $13.91 and last traded at $13.94, with a volume of 120,267 shares. The stock had previously closed at $14.22.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Wunderlich reiterated a “buy” rating and issued a $15.50 price target (up from $14.00) on shares of Preferred Apartment Communities in a report on Thursday, August 4th. Compass Point reiterated a “buy” rating and issued a $16.50 price target (up from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. FBR & Co reiterated an “outperform” rating and issued a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, August 11th. Finally, Canaccord Genuity reiterated 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 stock. Preferred Apartment Communities has an average rating of “Buy” and a consensus target price of $16.50.
The firm has a 50 day moving average price of $14.62 and a 200-day moving average price of $13.35.
Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. On average, equities research analysts anticipate that Preferred Apartment Communities Inc. will post $1.28 EPS for the current fiscal year.
In related news, Director Steve Bartkowski sold 16,045 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $14.13, for a total value of $226,715.85. Following the transaction, the director now directly owns 48,175 shares in the company, valued at $680,712.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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