Preferred Apartment Communities (NYSE:APTS) had its price target decreased by JMP Securities from $20.00 to $18.00 in a research note released on Tuesday morning. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

APTS has been the topic of a number of other reports. Zacks Investment Research downgraded Preferred Apartment Communities from a hold rating to a sell rating in a research note on Friday, November 9th. Boenning Scattergood reissued a buy rating on shares of Preferred Apartment Communities in a research note on Tuesday, November 6th. ValuEngine downgraded Preferred Apartment Communities from a hold rating to a sell rating in a research note on Friday, November 2nd. Finally, B. Riley reissued a neutral rating on shares of Preferred Apartment Communities in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $17.83.

APTS opened at $15.03 on Tuesday. Preferred Apartment Communities has a fifty-two week low of $13.60 and a fifty-two week high of $21.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $629.70 million, a PE ratio of 10.22, a PEG ratio of 1.57 and a beta of 0.40.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.09). Preferred Apartment Communities had a return on equity of 0.88% and a net margin of 3.29%. The firm had revenue of $104.20 million for the quarter, compared to analysts’ expectations of $100.95 million. The firm’s revenue was up 39.1% on a year-over-year basis. On average, research analysts forecast that Preferred Apartment Communities will post 1.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be issued a $0.26 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.04 dividend on an annualized basis and a yield of 6.92%. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio (DPR) is 69.39%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APTS. Massachusetts Financial Services Co. MA grew its holdings in Preferred Apartment Communities by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 61,147 shares of the real estate investment trust’s stock valued at $1,039,000 after buying an additional 8,376 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Preferred Apartment Communities by 338.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 125,359 shares of the real estate investment trust’s stock valued at $2,130,000 after buying an additional 96,779 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Preferred Apartment Communities in the 2nd quarter valued at approximately $776,000. Sei Investments Co. grew its holdings in Preferred Apartment Communities by 61.3% in the 2nd quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 3,774 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Preferred Apartment Communities by 12.9% in the 2nd quarter. Rhumbline Advisers now owns 46,315 shares of the real estate investment trust’s stock valued at $787,000 after buying an additional 5,304 shares during the last quarter. 59.68% of the stock is currently owned by hedge funds and other institutional investors.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.

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Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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