Preferred Apartment Communities, Inc. (NYSE:APTS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Preferred Apartment Communities, Inc. (NYSE:APTSGet Rating) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $19.33.

A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on Preferred Apartment Communities in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research lowered Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial raised their price target on Preferred Apartment Communities from $17.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, March 23rd. Finally, Jonestrading downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd.

Hedge funds have recently bought and sold shares of the company. Charter Oak Capital Management LLC lifted its position in shares of Preferred Apartment Communities by 294.3% during the 4th quarter. Charter Oak Capital Management LLC now owns 2,622 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,957 shares during the period. NEXT Financial Group Inc lifted its position in shares of Preferred Apartment Communities by 19.2% during the 4th quarter. NEXT Financial Group Inc now owns 3,100 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 500 shares during the period. Marshall Wace LLP acquired a new stake in shares of Preferred Apartment Communities during the 1st quarter valued at approximately $80,000. Dorsey Wright & Associates purchased a new position in shares of Preferred Apartment Communities during the 4th quarter worth approximately $81,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Preferred Apartment Communities during the 3rd quarter worth approximately $87,000. Institutional investors own 51.96% of the company’s stock.

Shares of APTS stock opened at $24.88 on Thursday. Preferred Apartment Communities has a 52-week low of $9.19 and a 52-week high of $25.80. The firm has a market capitalization of $1.60 billion, a P/E ratio of -9.99, a P/E/G ratio of 3.39 and a beta of 0.94. The stock has a 50 day moving average price of $24.91 and a 200 day moving average price of $20.20.

Preferred Apartment Communities (NYSE:APTSGet Rating) last issued its quarterly earnings results on Monday, May 9th. The real estate investment trust reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.08). Preferred Apartment Communities had a return on equity of 1.33% and a net margin of 3.47%. On average, equities research analysts anticipate that Preferred Apartment Communities will post 1.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.81%. Preferred Apartment Communities’s payout ratio is -28.11%.

About Preferred Apartment Communities (Get Rating)

Preferred Apartment Communities, Inc (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers, Class A office buildings, and student housing properties. Preferred Apartment Communities' investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans for multifamily properties.

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