Todays Report: The Preferred Apartment Communities Inc. (APTS) Upgraded by Zacks Investment Research to “Buy”

The Preferred Apartment Communities Inc. (APTS) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $14.00 price objective on the stock.

According to Zacks, “Preferred Apartment Communities, Inc. is a real estate investment trust. The company acquire and operate multifamily properties primarily in the United States. It also acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily assets. Preferred Apartment Communities, Inc. is based in Atlanta, United States. “

Several other equities research analysts have also recently issued reports on the stock. Compass Point restated a buy rating and set a $16.50 price objective (up from $14.00) on shares of Preferred Apartment Communities in a research report on Wednesday, August 3rd. Canaccord Genuity restated a buy rating on shares of Preferred Apartment Communities in a research report on Tuesday, June 28th. FBR & Co restated an outperform rating and set a $17.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 11th. Finally, Wunderlich restated a buy rating and set a $15.50 price objective (up from $14.00) on shares of Preferred Apartment Communities in a research report on Thursday, August 4th. Five equities research analysts have rated the stock with a buy rating, Preferred Apartment Communities presently has an average rating of Buy and a consensus price target of $15.75.

Preferred Apartment Communities (NASDAQ:APTS) opened at 12.15 on Tuesday. Preferred Apartment Communities has a 52 week low of $10.29 and a 52 week high of $15.39. The firm has a 50 day moving average of $13.50 and a 200-day moving average of $13.73.

Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Equities analysts anticipate that Preferred Apartment Communities will post $1.28 EPS for the current year.

The business also recently announced a dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.203 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is a positive change from Preferred Apartment Communities’s previous dividend of $0.20.

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Asset Management Inc. raised its position in shares of Preferred Apartment Communities by 5.0% in the second quarter. National Asset Management Inc. now owns 45,925 shares of the company’s stock valued at $677,000 after buying an additional 2,200 shares during the period. A.R.T. Advisors LLC raised its position in shares of Preferred Apartment Communities by 86.3% in the second quarter. A.R.T. Advisors LLC now owns 29,578 shares of the company’s stock valued at $435,000 after buying an additional 13,700 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Preferred Apartment Communities by 14.4% in the second quarter. Parametric Portfolio Associates LLC now owns 149,848 shares of the company’s stock valued at $2,206,000 after buying an additional 18,861 shares during the period. Menta Capital LLC raised its position in shares of Preferred Apartment Communities by 2.5% in the second quarter. Menta Capital LLC now owns 181,315 shares of the company’s stock valued at $2,669,000 after buying an additional 4,400 shares during the period. Finally, Allianz Asset Management AG bought a new position in shares of Preferred Apartment Communities during the second quarter valued at $357,000.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail, and real estate related financing.

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