Preferred Apartment Communities Inc. (APTS) Shares Up 3%
Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) shot up 3% during mid-day trading on Tuesday . The company traded as high as $14.97 and last traded at $14.95, with a volume of 74,553 shares. The stock had previously closed at $14.51.
A number of research firms have recently issued reports on APTS. FBR & Co restated an “outperform” rating and set a $17.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday. Wunderlich restated a “buy” rating and set a $15.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 4th. Zacks Investment Research cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Canaccord Genuity restated a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, June 28th. Finally, Compass Point restated a “buy” rating and set a $16.50 target price (up previously from $14.00) on shares of Preferred Apartment Communities in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $16.50.
The company has a 50-day moving average price of $14.71 and a 200-day moving average price of $13.15.
Preferred Apartment Communities (NASDAQ:APTS) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.31 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.31. Equities research analysts forecast that Preferred Apartment Communities Inc. will post $1.28 earnings per share for the current fiscal year.
In other news, Director Steve Bartkowski sold 16,045 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 48,175 shares in the company, valued at approximately $680,712.75. The transaction was disclosed in a document filed 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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