Preferred Apartment Communities Inc. (NASDAQ:APTS) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Several other research analysts also recently commented on APTS. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. National Securities reaffirmed a “buy” rating and issued a $20.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a research report on Tuesday, May 23rd. FBR & Co set a $15.00 price target on Preferred Apartment Communities and gave the stock a “hold” rating in a research report on Wednesday, May 31st. BidaskClub downgraded Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Canaccord Genuity set a $17.00 price objective on Preferred Apartment Communities and gave the company a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Preferred Apartment Communities has a consensus rating of “Buy” and an average price target of $17.30.

Preferred Apartment Communities (NASDAQ APTS) traded up 0.55% during trading on Friday, hitting $18.29. The stock had a trading volume of 179,326 shares. Preferred Apartment Communities has a 52 week low of $12.02 and a 52 week high of $18.55. The company’s 50-day moving average is $17.55 and its 200 day moving average is $15.39. The firm’s market cap is $609.44 million.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $70.89 million for the quarter, compared to the consensus estimate of $63.74 million. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. Equities analysts expect that Preferred Apartment Communities will post ($1.08) EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans purchased a new stake in Preferred Apartment Communities during the first quarter worth about $870,000. Asset Management One Co. Ltd. boosted its stake in Preferred Apartment Communities by 14.8% in the first quarter. Asset Management One Co. Ltd. now owns 62,220 shares of the real estate investment trust’s stock worth $828,000 after buying an additional 8,015 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Preferred Apartment Communities by 30.7% in the first quarter. Neuberger Berman Group LLC now owns 336,293 shares of the real estate investment trust’s stock worth $4,442,000 after buying an additional 79,060 shares in the last quarter. American International Group Inc. boosted its stake in Preferred Apartment Communities by 7.4% in the first 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 in the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in Preferred Apartment Communities during the first quarter worth about $270,000.

Preferred Apartment Communities Company Profile

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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