Preferred Apartment Communities (APTS) Upgraded at ValuEngine

ValuEngine upgraded shares of Preferred Apartment Communities (NYSE:APTS) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

A number of other research analysts also recently issued reports on the company. Boenning Scattergood restated a buy rating on shares of Preferred Apartment Communities in a research note on Tuesday, April 30th. Zacks Investment Research downgraded Preferred Apartment Communities from a hold rating to a sell rating in a research note on Tuesday, January 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $19.00.

Shares of NYSE APTS opened at $16.80 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.01. Preferred Apartment Communities has a fifty-two week low of $13.14 and a fifty-two week high of $18.60. The stock has a market cap of $728.45 million, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.52.

Preferred Apartment Communities (NYSE:APTS) last issued its earnings results on Monday, April 29th. The real estate investment trust reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.99). Preferred Apartment Communities had a return on equity of 1.71% and a net margin of 6.41%. The business had revenue of $111.50 million for the quarter, compared to analyst estimates of $112.81 million. During the same period last year, the business posted $0.26 EPS. Preferred Apartment Communities’s revenue was up 23.3% on a year-over-year basis. Equities analysts forecast that Preferred Apartment Communities will post 1.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date is Thursday, June 13th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently 73.76%.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its stake 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 valued at $69,774,000 after purchasing an additional 512,810 shares during the last quarter. Vanguard Group Inc. grew its stake 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 valued at $69,774,000 after purchasing an additional 512,810 shares during the last quarter. BlackRock Inc. grew its stake in shares of Preferred Apartment Communities by 7.8% in the 4th quarter. BlackRock Inc. now owns 3,464,622 shares of the real estate investment trust’s stock valued at $48,713,000 after purchasing an additional 249,383 shares during the last quarter. Hillcrest Asset Management LLC grew its stake in shares of Preferred Apartment Communities by 35.3% in the 1st quarter. Hillcrest Asset Management LLC now owns 817,695 shares of the real estate investment trust’s stock valued at $12,118,000 after purchasing an additional 213,194 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Preferred Apartment Communities by 106.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 247,267 shares of the real estate investment trust’s stock valued at $3,477,000 after purchasing an additional 127,417 shares during the last quarter. Hedge funds and other institutional investors own 58.43% of the company’s stock.

Preferred Apartment Communities Company Profile

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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