Preferred Apartment Communities Inc. (APTS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in Preferred Apartment Communities Inc. (NYSE:APTS) by 41.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,000 shares of the real estate investment trust’s stock after selling 26,454 shares during the period. New York State Common Retirement Fund owned 0.09% of Preferred Apartment Communities worth $534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of APTS. Vanguard Group Inc raised its holdings in shares of Preferred Apartment Communities by 14.8% in the 3rd quarter. Vanguard Group Inc now owns 3,968,934 shares of the real estate investment trust’s stock worth $69,774,000 after purchasing an additional 512,810 shares during the period. Vanguard Group Inc. grew its stake in Preferred Apartment Communities by 14.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,968,934 shares of the real estate investment trust’s stock valued at $69,774,000 after buying an additional 512,810 shares in the last quarter. LSV Asset Management grew its stake in Preferred Apartment Communities by 1.1% in the 4th quarter. LSV Asset Management now owns 1,943,449 shares of the real estate investment trust’s stock valued at $27,324,000 after buying an additional 20,337 shares in the last quarter. Teachers Advisors LLC grew its stake in Preferred Apartment Communities by 0.6% in the 3rd quarter. Teachers Advisors LLC now owns 721,113 shares of the real estate investment trust’s stock valued at $12,677,000 after buying an additional 4,243 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Preferred Apartment Communities by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,322 shares of the real estate investment trust’s stock valued at $12,469,000 after buying an additional 39,707 shares in the last quarter. Institutional investors own 59.83% of the company’s stock.

Shares of NYSE:APTS opened at $15.13 on Friday. Preferred Apartment Communities Inc. has a 52-week low of $13.14 and a 52-week high of $18.60. The firm has a market capitalization of $651.90 million, a P/E ratio of 10.73, a P/E/G ratio of 1.49 and a beta of 0.51. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.04.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 6.87%. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 73.76%.

A number of research analysts have recently commented on APTS shares. Zacks Investment Research lowered shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Boenning Scattergood restated a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.00.

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About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.

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

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