Nationwide Fund Advisors Increases Holdings in Preferred Apartment Communities Inc. (APTS)

Nationwide Fund Advisors grew its position in Preferred Apartment Communities Inc. (NYSE:APTS) by 102.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,750 shares of the real estate investment trust’s stock after purchasing an additional 77,266 shares during the period. Nationwide Fund Advisors owned about 0.46% of Preferred Apartment Communities worth $2,884,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of APTS. JPMorgan Chase & Co. increased its position in Preferred Apartment Communities by 9,708.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 529,073 shares of the real estate investment trust’s stock worth $8,332,000 after purchasing an additional 523,679 shares during the last quarter. Teachers Advisors LLC increased its position in Preferred Apartment Communities by 926.8% in the 2nd quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock worth $8,270,000 after purchasing an additional 473,918 shares during the last quarter. LSV Asset Management increased its position in Preferred Apartment Communities by 97.3% in the 2nd quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock worth $11,519,000 after purchasing an additional 360,601 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Preferred Apartment Communities by 269.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 343,619 shares of the real estate investment trust’s stock worth $5,412,000 after purchasing an additional 250,719 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Preferred Apartment Communities by 158.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 236,742 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 145,131 shares during the last quarter. 51.99% of the stock is currently owned by institutional investors.

Shares of Preferred Apartment Communities Inc. (NYSE:APTS) traded down $0.61 during midday trading on Thursday, hitting $18.18. The stock had a trading volume of 815,593 shares, compared to its average volume of 579,154. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $593.92, a price-to-earnings ratio of -18.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. Preferred Apartment Communities Inc. has a fifty-two week low of $12.42 and a fifty-two week high of $22.71.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 5.50%. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s dividend payout ratio (DPR) is -100.00%.

In other Preferred Apartment Communities news, insider Daniel M. Dupree sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the sale, the insider now owns 99,564 shares of the company’s stock, valued at approximately $2,098,809.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Joseph Cronin sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the sale, the insider now owns 16,460 shares of the company’s stock, valued at approximately $349,775. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,850 shares of company stock worth $39,349 and sold 21,500 shares worth $452,685. Company insiders own 3.11% of the company’s stock.

APTS has been the topic of several research reports. Zacks Investment Research raised Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, November 2nd. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. B. Riley increased 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. National Securities increased their price objective on Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.33.

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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.

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

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