Preferred Apartment Communities Inc. (NASDAQ:APTS) Receives Consensus Rating of “Buy” from Analysts

Preferred Apartment Communities Inc. (NASDAQ:APTS) has earned an average rating of “Buy” from the nine brokerages that are covering the firm, AnalystRatings.NET reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $12.75.

A number of brokerages have recently commented on APTS. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, November 5th. Compass Point increased their target price on shares of Preferred Apartment Communities from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, November 5th. DA Davidson began coverage on shares of Preferred Apartment Communities in a research report on Thursday, September 17th. They issued a “buy” rating and a $13.00 target price for the company. Finally, JMP Securities began coverage on shares of Preferred Apartment Communities in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $13.00 target price for the company.

Preferred Apartment Communities (NASDAQ:APTS) traded down 1.53% during trading on Monday, hitting $12.88. 276,199 shares of the company were exchanged. The stock’s 50-day moving average is $11.85 and its 200-day moving average is $11.03. Preferred Apartment Communities has a 12 month low of $8.69 and a 12 month high of $13.89.

Preferred Apartment Communities (NASDAQ:APTS) last issued its earnings results on Monday, November 2nd. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. Analysts anticipate that Preferred Apartment Communities will post $1.15 EPS for the current year.

The business also recently announced a dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.192 per share. The ex-dividend date of this dividend is Friday, December 11th.

In related news, Director Steve Bartkowski acquired 4,500 shares of the business’s stock in a transaction on Wednesday, November 25th. The shares were bought at an average price of $10.91 per share, with a total value of $49,095.00. Following the completion of the acquisition, the director now owns 58,599 shares in the company, valued at $639,315.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

12 Month Chart for NASDAQ:APTS

Preferred Apartment Communities, Inc. is formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. The Company has three operational segments: multifamily communities, retail, and real estate related financing. Multifamily Communities segment consists of approximately 10 owned residential multifamily communities. Retail segment consists of approximately 10 owned grocery-anchored necessity retail shopping centers. Financing segment consists of its portfolio of mezzanine loans, bridge loans and other financial instruments which partially finance the development, construction and prestabilization carrying costs of new multifamily communities and other real estate and real estate related assets.

 

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