Preferred Apartment Communities Inc. (NASDAQ:APTS)’s share price fell 2% during mid-day trading on Friday . The company traded as low as $13.91 and last traded at $13.94, with a volume of 120,267 shares traded. The stock had previously closed at $14.22.

A number of research firms recently issued reports on APTS. Wunderlich reiterated a “buy” rating and set a $15.50 price objective (up from $14.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. FBR & Co restated an “outperform” rating and issued a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 11th. Canaccord Genuity restated a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, June 28th. Finally, Compass Point restated a “buy” rating and issued a $16.50 price target (up from $14.00) on shares of Preferred Apartment Communities in a research 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 stock. Preferred Apartment Communities has a consensus rating of “Buy” and an average price target of $16.50.

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

Preferred Apartment Communities (NASDAQ:APTS) last announced its earnings results on Monday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Equities research analysts anticipate that Preferred Apartment Communities Inc. will post $1.28 EPS for the current year.

In other Preferred Apartment Communities news, Director Steve Bartkowski sold 16,045 shares of Preferred Apartment Communities stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $14.13, for a total transaction of $226,715.85. Following the completion of the sale, the director now directly owns 48,175 shares in the company, valued at $680,712.75. The sale was disclosed in a document filed with the SEC, which is available at 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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