Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) shot up 1% on Wednesday . The company traded as high as $13.86 and last traded at $13.83, with a volume of 55,456 shares. The stock had previously closed at $13.69.

APTS has been the subject of a number of research reports. Wunderlich reissued a “buy” rating and issued a $15.50 price target (up previously from $14.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. FBR & Co reissued an “outperform” rating and issued a $17.00 price target (up previously from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 11th. Canaccord Genuity reissued a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, June 28th. Finally, Compass Point reissued a “buy” rating and issued a $16.50 price target (up previously from $14.00) on shares of Preferred Apartment Communities in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.50.

The stock’s 50 day moving average price is $14.55 and its 200 day moving average price is $13.43.

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

The firm also recently disclosed a dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a $0.203 dividend. This is an increase from Preferred Apartment Communities’s previous dividend of $0.20. The ex-dividend date is Tuesday, September 13th.

In related news, Director Steve Bartkowski sold 16,045 shares of the firm’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 of the company’s stock, valued at $680,712.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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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