Preferred Apartment Communities Inc. (APTS) Trading 1% Higher
Preferred Apartment Communities Inc. (NASDAQ:APTS) shares traded up 1% during mid-day trading on Wednesday . The stock traded as high as $13.86 and last traded at $13.83, with a volume of 55,456 shares changing hands. The stock had previously closed at $13.69.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. FBR & Co reissued an “outperform” rating and set a $17.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 11th. Canaccord Genuity reissued a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, June 28th. Wunderlich reissued a “buy” rating and set a $15.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 4th. Finally, Compass Point reissued a “buy” rating and set a $16.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Preferred Apartment Communities has an average rating of “Buy” and an average target price of $16.50.
The stock has a 50-day moving average price of $14.50 and a 200-day moving average price of $13.43.
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, meeting the Zacks’ consensus estimate of $0.31. On average, equities research analysts expect that Preferred Apartment Communities Inc. will post $1.28 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.203 per share. The ex-dividend date is Tuesday, September 13th. This is an increase from Preferred Apartment Communities’s previous dividend of $0.20.
In other 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 completion of the sale, 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 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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