StockNews.com Lowers Preferred Apartment Communities (NYSE:APTS) to Sell

Preferred Apartment Communities (NYSE:APTSGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

APTS has been the subject of a number of other research reports. Truist Financial boosted their target price on shares of Preferred Apartment Communities from $17.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, March 23rd. Zacks Investment Research cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Finally, Jonestrading cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Preferred Apartment Communities currently has a consensus rating of “Hold” and an average price target of $19.90.

APTS stock opened at $24.97 on Thursday. The company has a fifty day moving average price of $24.90 and a two-hundred day moving average price of $21.01. Preferred Apartment Communities has a one year low of $9.64 and a one year high of $25.80. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -10.03, a price-to-earnings-growth ratio of 3.39 and a beta of 0.94.

Preferred Apartment Communities (NYSE:APTSGet Rating) last announced its 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 net margin of 3.47% and a return on equity of 1.33%. Research analysts expect that Preferred Apartment Communities will post 1.05 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP raised its stake in Preferred Apartment Communities by 4.0% during the first quarter. First Trust Advisors LP now owns 10,488 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 405 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of Preferred Apartment Communities by 19.2% in the fourth quarter. NEXT Financial Group Inc now owns 3,100 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 500 shares during the period. Wedbush Securities Inc. increased its stake in shares of Preferred Apartment Communities by 2.6% in the fourth quarter. Wedbush Securities Inc. now owns 27,159 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 700 shares during the period. California State Teachers Retirement System increased its stake in shares of Preferred Apartment Communities by 2.5% in the fourth quarter. California State Teachers Retirement System now owns 28,621 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 705 shares during the period. Finally, Carmel Capital Partners LLC increased its stake in shares of Preferred Apartment Communities by 1.4% in the first quarter. Carmel Capital Partners LLC now owns 52,484 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 710 shares during the period. 51.96% of the stock is owned by hedge funds and other institutional investors.

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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