Advisor Group Inc. increased its stake in shares of Preferred Apartment Communities, Inc. (NYSE:APTS) by 24.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,144 shares of the real estate investment trust’s stock after buying an additional 8,871 shares during the quarter. Advisor Group Inc. owned about 0.13% of Preferred Apartment Communities worth $852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APTS. American International Group Inc. grew its stake in Preferred Apartment Communities by 7.4% during the 1st quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 966 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Preferred Apartment Communities by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,149,673 shares of the real estate investment trust’s stock worth $15,187,000 after purchasing an additional 56,507 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Preferred Apartment Communities by 8.8% in the first quarter. Geode Capital Management LLC now owns 209,183 shares of the real estate investment trust’s stock worth $2,763,000 after purchasing an additional 16,940 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Preferred Apartment Communities by 103.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,611 shares of the real estate investment trust’s stock worth $1,211,000 after purchasing an additional 46,614 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Preferred Apartment Communities by 4.6% in the first quarter. Bank of America Corp DE now owns 104,171 shares of the real estate investment trust’s stock worth $1,376,000 after purchasing an additional 4,587 shares in the last quarter. Hedge funds and other institutional investors own 50.26% of the company’s stock.

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Several research firms have recently issued reports on APTS. Zacks Investment Research raised Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity set a $20.00 price objective on Preferred Apartment Communities and gave the company a “buy” rating in a report on Thursday, August 10th. ValuEngine upgraded Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, B. Riley upped their price objective on Preferred Apartment Communities from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Preferred Apartment Communities currently has an average rating of “Buy” and a consensus target price of $19.20.

In other news, insider Daniel M. Dupree sold 17,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total transaction of $358,360.00. Following the completion of the sale, the insider now directly owns 99,564 shares of the company’s stock, valued at $2,098,809.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.11% of the company’s stock.

Shares of Preferred Apartment Communities, Inc. (NYSE APTS) opened at $21.43 on Wednesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $771.27, a price-to-earnings ratio of 14.70, a PEG ratio of 2.07 and a beta of 0.42. Preferred Apartment Communities, Inc. has a twelve month low of $12.42 and a twelve month high of $22.71.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio is currently -93.07%.

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.

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

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