Dana Investment Advisors Inc. lowered its position in shares of Preferred Apartment Communities Inc. (NYSE:APTS) by 9.1% in the fourth quarter, Holdings Channel reports. The fund owned 147,074 shares of the real estate investment trust’s stock after selling 14,661 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Preferred Apartment Communities were worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Stifel Financial Corp raised its holdings in shares of Preferred Apartment Communities by 5.9% during the fourth quarter. Stifel Financial Corp now owns 15,917 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 884 shares during the last quarter. Optimum Investment Advisors raised its holdings in shares of Preferred Apartment Communities by 100.0% during the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Preferred Apartment Communities by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,259 shares during the last quarter. JOYN Advisors Inc. raised its holdings in shares of Preferred Apartment Communities by 23.3% during the fourth quarter. JOYN Advisors Inc. now owns 7,854 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Preferred Apartment Communities by 8.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,100 shares of the real estate investment trust’s stock valued at $367,000 after acquiring an additional 2,100 shares during the last quarter. 62.71% of the stock is owned by institutional investors and hedge funds.

NYSE:APTS opened at $15.90 on Friday. Preferred Apartment Communities Inc. has a one year low of $13.14 and a one year high of $18.60. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $682.14 million, a P/E ratio of 11.58, a P/E/G ratio of 1.59 and a beta of 0.51.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a $0.26 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 6.54%.

A number of brokerages have commented on APTS. ValuEngine raised Preferred Apartment Communities from a “hold” rating to a “buy” rating in a report on Monday, March 11th. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, February 26th. Zacks Investment Research cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, JMP Securities reduced their target price on Preferred Apartment Communities from $20.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.80.

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

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