Preferred Apartment Communities Inc. (NASDAQ:APTS) insider Leonard A. Silverstein acquired 500 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $21.01 per share, with a total value of $10,505.00. Following the completion of the acquisition, the insider now directly owns 35,473 shares of the company’s stock, valued at $745,287.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Preferred Apartment Communities Inc. (NASDAQ APTS) traded up $0.52 during mid-day trading on Tuesday, reaching $21.62. 547,200 shares of the company’s stock were exchanged, compared to its average volume of 292,661. Preferred Apartment Communities Inc. has a twelve month low of $12.42 and a twelve month high of $21.70.

Preferred Apartment Communities (NASDAQ:APTS) last announced its earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.18). The business had revenue of $74.90 million for the quarter, compared to analysts’ expectations of $67.86 million. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.63%. Preferred Apartment Communities’s dividend payout ratio is -94.00%.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Preferred Apartment Communities by 15.9% in the second quarter. Goldman Sachs Group Inc. now owns 93,198 shares of the real estate investment trust’s stock worth $1,468,000 after purchasing an additional 12,819 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Preferred Apartment Communities by 103.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 91,611 shares of the real estate investment trust’s stock worth $1,211,000 after acquiring an additional 46,614 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of Preferred Apartment Communities during the second quarter worth $364,000. KCM Investment Advisors LLC boosted its position in shares of Preferred Apartment Communities by 4.0% during the second quarter. KCM Investment Advisors LLC now owns 290,000 shares of the real estate investment trust’s stock worth $4,568,000 after acquiring an additional 11,050 shares during the last quarter. Finally, 361 Capital LLC boosted its position in shares of Preferred Apartment Communities by 91.8% during the second quarter. 361 Capital LLC now owns 25,264 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 12,093 shares during the last quarter.

A number of analysts have commented on APTS shares. BidaskClub raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Canaccord Genuity set a $17.00 target price on shares of Preferred Apartment Communities and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, B. Riley upped their target price on shares of Preferred Apartment Communities from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Preferred Apartment Communities has an average rating of “Buy” and an average target price of $19.20.

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.

Insider Buying and Selling by Quarter for Preferred Apartment Communities (NASDAQ:APTS)

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