Preferred Apartment Communities, Inc. (NYSE:APTS) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. B. Riley reaffirmed a “neutral” rating and set a $17.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, November 2nd. ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Canaccord Genuity set a $20.00 price objective on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.20.

Preferred Apartment Communities (NYSE APTS) traded down $0.68 on Tuesday, reaching $21.27. 546,500 shares of the company traded hands, compared to its average volume of 296,555. Preferred Apartment Communities has a 1-year low of $12.42 and a 1-year high of $22.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $699.11, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. sell-side analysts anticipate that Preferred Apartment Communities will post 1.45 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Preferred Apartment Communities, Inc. (APTS) Rating Increased to Strong-Buy at BidaskClub” was originally published by Daily Political and is the property of of Daily Political. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/11/16/preferred-apartment-communities-inc-apts-rating-increased-to-strong-buy-at-bidaskclub.html.

Several hedge funds have recently bought and sold shares of the company. Dana Investment Advisors Inc. bought a new position in shares of Preferred Apartment Communities in the third quarter worth about $2,536,000. Sterling Capital Management LLC bought a new position in shares of Preferred Apartment Communities in the third quarter worth about $905,000. Neuberger Berman Group LLC lifted its holdings in shares of Preferred Apartment Communities by 1.0% in the third quarter. Neuberger Berman Group LLC now owns 334,736 shares of the real estate investment trust’s stock worth $6,320,000 after acquiring an additional 3,356 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Preferred Apartment Communities by 59.7% in the third quarter. California Public Employees Retirement System now owns 92,138 shares of the real estate investment trust’s stock worth $1,740,000 after acquiring an additional 34,438 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Preferred Apartment Communities by 47.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 42,269 shares of the real estate investment trust’s stock worth $798,000 after acquiring an additional 13,578 shares during the last quarter. 44.89% of the stock is owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for Preferred Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Apartment Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.