Dana Investment Advisors Inc. acquired a new stake in shares of Preferred Apartment Communities, Inc. (NYSE:APTS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 134,317 shares of the real estate investment trust’s stock, valued at approximately $2,536,000. Dana Investment Advisors Inc. owned approximately 0.37% of Preferred Apartment Communities as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in APTS. Hillcrest Asset Management LLC purchased a new position in Preferred Apartment Communities during the third quarter valued at approximately $12,257,000. JPMorgan Chase & Co. grew its position in Preferred Apartment Communities by 119.0% in the third quarter. JPMorgan Chase & Co. now owns 1,158,689 shares of the real estate investment trust’s stock worth $21,841,000 after acquiring an additional 629,616 shares in the last quarter. Teachers Advisors LLC grew its position in Preferred Apartment Communities by 926.8% in the second quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock worth $8,270,000 after acquiring an additional 473,918 shares in the last quarter. LSV Asset Management grew its position in Preferred Apartment Communities by 97.3% in the second quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock worth $11,519,000 after acquiring an additional 360,601 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Preferred Apartment Communities by 269.9% in the second quarter. TIAA CREF Investment Management LLC now owns 343,619 shares of the real estate investment trust’s stock worth $5,412,000 after acquiring an additional 250,719 shares in the last quarter. 52.51% of the stock is currently owned by hedge funds and other institutional investors.

APTS has been the subject of several recent research reports. Zacks Investment Research raised shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. National Securities upped their price objective on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. B. Riley reaffirmed a “neutral” rating and set a $17.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd. Finally, ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.40.

In related news, insider Daniel M. Dupree sold 17,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.08, for a total transaction of $358,360.00. Following the completion of the transaction, the insider now directly owns 99,564 shares in the company, valued at approximately $2,098,809.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Joseph Cronin sold 2,500 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $21.25, for a total transaction of $53,125.00. Following the transaction, the insider now owns 16,460 shares of the company’s stock, valued at $349,775. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,850 shares of company stock valued at $39,349. Corporate insiders own 3.11% of the company’s stock.

Shares of Preferred Apartment Communities, Inc. (APTS) opened at $21.19 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market cap of $774.93, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.08 and a beta of 0.43. Preferred Apartment Communities, Inc. has a 1-year low of $12.42 and a 1-year high of $22.71.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. analysts anticipate that Preferred Apartment Communities, Inc. will post 1.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be issued a dividend of $0.25 per share. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio is currently -93.07%.

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About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

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Institutional Ownership by Quarter for Preferred Apartment Communities (NYSE:APTS)

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