LSV Asset Management increased its stake in Preferred Apartment Communities Inc. (NASDAQ:APTS) by 97.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 731,366 shares of the real estate investment trust’s stock after acquiring an additional 360,601 shares during the quarter. LSV Asset Management owned about 2.19% of Preferred Apartment Communities worth $11,519,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of APTS. JPMorgan Chase & Co. lifted its stake in shares of Preferred Apartment Communities by 9,708.5% in the second quarter. JPMorgan Chase & Co. now owns 529,073 shares of the real estate investment trust’s stock worth $8,332,000 after acquiring an additional 523,679 shares during the period. Bank of Montreal Can lifted its stake in shares of Preferred Apartment Communities by 14,877.4% in the second quarter. Bank of Montreal Can now owns 379,528 shares of the real estate investment trust’s stock worth $5,978,000 after acquiring an additional 376,994 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Preferred Apartment Communities by 158.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 236,742 shares of the real estate investment trust’s stock worth $3,729,000 after acquiring an additional 145,131 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Preferred Apartment Communities by 30.7% in the first quarter. Neuberger Berman Group LLC now owns 336,293 shares of the real estate investment trust’s stock worth $4,442,000 after acquiring an additional 79,060 shares during the period. Finally, Thrivent Financial For Lutherans acquired a new position in shares of Preferred Apartment Communities in the first quarter worth approximately $870,000.

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A number of equities analysts recently commented on the company. Canaccord Genuity set a $20.00 price objective on Preferred Apartment Communities and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. FBR & Co reaffirmed a “market perform” rating and issued a $16.00 price objective on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. Finally, National Securities reissued a “buy” rating and issued a $20.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a research note on Tuesday, May 23rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.30.

Preferred Apartment Communities Inc. (NASDAQ:APTS) opened at 18.03 on Friday. The firm has a 50-day moving average price of $17.93 and a 200 day moving average price of $15.61. Preferred Apartment Communities Inc. has a 52 week low of $12.02 and a 52 week high of $18.55. The firm’s market capitalization is $600.78 million.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $70.89 million for the quarter, compared to analyst estimates of $63.74 million. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. On average, equities research analysts forecast that Preferred Apartment Communities Inc. will post ($1.08) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be given a $0.235 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 5.21%.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

Institutional Ownership by Quarter for Preferred Apartment Communities (NASDAQ:APTS)

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