SunTrust Banks started coverage on shares of Preferred Apartment Communities (NYSE:APTS) in a research report sent to investors on Thursday, MarketBeat.com reports. The firm issued a hold rating and a $20.00 price target on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Preferred Apartment Communities from a buy rating to a strong-buy rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Preferred Apartment Communities from a buy rating to a hold rating in a research report on Friday, November 3rd. National Securities lifted their target price on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a buy rating in a research report on Wednesday, November 29th. B. Riley restated a neutral rating and set a $17.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Preferred Apartment Communities from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Four 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. Preferred Apartment Communities has an average rating of Buy and an average price target of $20.33.

Preferred Apartment Communities (NYSE:APTS) opened at $17.48 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.05. The stock has a market cap of $641.38, a PE ratio of -17.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.43. Preferred Apartment Communities has a 52-week low of $12.42 and a 52-week 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The business had revenue of $74.90 million for the quarter, compared to analyst estimates of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. equities analysts expect that Preferred Apartment Communities will post 1.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Thursday, December 14th. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s payout ratio is currently -99.01%.

In other news, insider Michael Joseph Cronin sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the transaction, the insider now owns 16,460 shares of the company’s stock, valued at $349,775. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel M. Dupree sold 17,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,098,809.12. The disclosure for this sale can be found here. In the last three months, insiders bought 1,850 shares of company stock valued at $39,349 and sold 21,500 shares valued at $452,685. Insiders own 3.11% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group acquired a new position in Preferred Apartment Communities during the second quarter worth approximately $113,000. Legal & General Group Plc increased its position in Preferred Apartment Communities by 13.3% during the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 845 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in Preferred Apartment Communities during the third quarter worth approximately $118,000. Citigroup Inc. increased its position in Preferred Apartment Communities by 338.2% during the second quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 9,131 shares during the last quarter. Finally, Hancock Holding Co. acquired a new position in Preferred Apartment Communities during the second quarter worth approximately $199,000. 52.00% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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