Preferred Apartment Communities Inc. (APTS) Stake Lowered by WINTON GROUP Ltd
WINTON GROUP Ltd lessened its stake in Preferred Apartment Communities Inc. (NYSE:APTS) by 12.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 28,253 shares of the real estate investment trust’s stock after selling 3,882 shares during the quarter. WINTON GROUP Ltd’s holdings in Preferred Apartment Communities were worth $497,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Preferred Apartment Communities by 1.6% during the 2nd quarter. BlackRock Inc. now owns 3,227,838 shares of the real estate investment trust’s stock valued at $54,840,000 after purchasing an additional 50,337 shares during the last quarter. LSV Asset Management lifted its holdings in Preferred Apartment Communities by 16.8% during the 2nd quarter. LSV Asset Management now owns 1,491,348 shares of the real estate investment trust’s stock valued at $25,338,000 after purchasing an additional 214,825 shares during the last quarter. Northern Trust Corp lifted its holdings in Preferred Apartment Communities by 6.2% during the 2nd quarter. Northern Trust Corp now owns 463,312 shares of the real estate investment trust’s stock valued at $7,871,000 after purchasing an additional 26,945 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Preferred Apartment Communities by 7.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 460,000 shares of the real estate investment trust’s stock valued at $8,087,000 after purchasing an additional 30,000 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its holdings in Preferred Apartment Communities by 12.6% during the 2nd quarter. KCM Investment Advisors LLC now owns 454,070 shares of the real estate investment trust’s stock valued at $7,715,000 after purchasing an additional 50,950 shares during the last quarter. 56.46% of the stock is owned by institutional investors.
APTS opened at $15.49 on Monday. Preferred Apartment Communities Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $21.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $635.85 million, a PE ratio of 10.54, a PEG ratio of 1.58 and a beta of 0.40.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.71%. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 69.39%.
In related news, Director Timothy Alan Peterson sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total value of $99,605.00. Following the transaction, the director now owns 54,166 shares in the company, valued at $980,946.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.62% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on APTS shares. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Boenning Scattergood started coverage on Preferred Apartment Communities in a report on Monday, September 17th. They set an “outperform” rating and a $22.00 target price for the company. ValuEngine downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, B. Riley reissued a “neutral” rating on shares of Preferred Apartment Communities in a report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Preferred Apartment Communities has a consensus rating of “Hold” and an average target price of $19.17.
Preferred Apartment Communities Profile
Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.
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