Preferred Apartment Communities Inc. (NYSE:APTS) Receives $18.50 Consensus Target Price from Brokerages

Shares of Preferred Apartment Communities Inc. (NYSE:APTS) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.50.

A number of research firms recently issued reports on APTS. Zacks Investment Research downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. DA Davidson downgraded shares of Preferred Apartment Communities from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th. ValuEngine downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Boenning Scattergood reiterated a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, April 30th. Finally, Compass Point reiterated a “buy” rating and set a $19.00 price target on shares of Preferred Apartment Communities in a report on Monday, July 22nd.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 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 worth $48,713,000 after acquiring an additional 249,383 shares in the last quarter. LSV Asset Management grew its stake in shares of Preferred Apartment Communities by 0.6% in the 1st quarter. LSV Asset Management now owns 1,955,849 shares of the real estate investment trust’s stock worth $28,985,000 after acquiring an additional 12,400 shares in 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 worth $12,118,000 after acquiring an additional 213,194 shares in the last quarter. Northern Trust Corp grew its stake in shares of Preferred Apartment Communities by 1.9% in the 4th quarter. Northern Trust Corp now owns 538,225 shares of the real estate investment trust’s stock worth $7,566,000 after acquiring an additional 10,227 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Preferred Apartment Communities by 2.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 460,000 shares of the real estate investment trust’s stock worth $6,877,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Shares of Preferred Apartment Communities stock traded down $0.48 during trading on Monday, reaching $13.90. 11,316 shares of the company traded hands, compared to its average volume of 282,277. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.01. Preferred Apartment Communities has a 1-year low of $13.14 and a 1-year high of $18.60. The company has a 50 day moving average price of $14.82. The company has a market cap of $606.54 million, a price-to-earnings ratio of 9.87, a PEG ratio of 1.42 and a beta of 0.41.

Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, July 29th. The real estate investment trust reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.97). Preferred Apartment Communities had a net margin of 7.08% and a return on equity of 1.92%. The company had revenue of $113.85 million for the quarter, compared to analyst estimates of $115.58 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts forecast that Preferred Apartment Communities will post 1.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.262 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.05 annualized dividend and a yield of 7.54%. Preferred Apartment Communities’s payout ratio is 74.47%.

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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Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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