Preferred Apartment Communities Inc. (NYSE:APTS) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

APTS has been the subject of several research analyst reports. Boenning Scattergood initiated coverage on Preferred Apartment Communities in a research report on Monday, September 17th. They set an “outperform” rating and a $22.00 price objective for the company. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. ValuEngine cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, B. Riley reissued a “neutral” rating on shares of Preferred Apartment Communities in a research report on Wednesday, November 14th.

In related news, Director Timothy Alan Peterson sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total transaction of $99,605.00. Following the completion of the transaction, the director now owns 54,166 shares of the company’s stock, valued at approximately $980,946.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.62% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of APTS. LSV Asset Management increased its stake in Preferred Apartment Communities by 29.0% during the third quarter. LSV Asset Management now owns 1,923,112 shares of the real estate investment trust’s stock valued at $33,808,000 after acquiring an additional 431,764 shares during the period. Boston Advisors LLC bought a new position in Preferred Apartment Communities during the second quarter valued at about $6,471,000. Renaissance Technologies LLC increased its stake in Preferred Apartment Communities by 116.3% during the second quarter. Renaissance Technologies LLC now owns 409,533 shares of the real estate investment trust’s stock valued at $6,958,000 after acquiring an additional 220,233 shares during the period. Allianz Asset Management GmbH bought a new position in Preferred Apartment Communities during the first quarter valued at about $1,995,000. Finally, ICM Asset Management Inc. WA increased its stake in Preferred Apartment Communities by 128.5% during the second quarter. ICM Asset Management Inc. WA now owns 225,855 shares of the real estate investment trust’s stock valued at $3,837,000 after acquiring an additional 126,995 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Shares of NYSE:APTS opened at $15.06 on Friday. Preferred Apartment Communities has a fifty-two week low of $13.60 and a fifty-two week high of $21.98. The stock has a market capitalization of $635.85 million, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.58 and a beta of 0.40. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.04.

Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Preferred Apartment Communities had a return on equity of 0.88% and a net margin of 3.29%. The company had revenue of $104.20 million during the quarter, compared to analyst estimates of $100.95 million. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, analysts predict that Preferred Apartment Communities will post 1.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Thursday, December 13th. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s payout ratio is currently 69.39%.

About Preferred Apartment Communities

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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Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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