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

A number of brokerages have recently commented on APTS. Wunderlich reissued 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. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. FBR & Co reissued 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, August 11th. Canaccord Genuity reissued a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, June 28th. Finally, Compass Point reissued a “buy” rating and set a $16.50 price objective (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $16.50.

The stock’s 50 day moving average price is $14.62 and its 200-day moving average price is $13.35.

Preferred Apartment Communities (NASDAQ:APTS) last posted its earnings results on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. On average, equities research analysts predict that Preferred Apartment Communities Inc. will post $1.28 earnings per share for the current fiscal year.

In other Preferred Apartment Communities news, Director Steve Bartkowski sold 16,045 shares of Preferred Apartment Communities stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $14.13, for a total transaction 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 filing with the SEC, which is accessible 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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