Ellington Management Group LLC acquired a new position in Preferred Apartment Communities Inc. (NYSE:APTS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,100 shares of the real estate investment trust’s stock, valued at approximately $346,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in APTS. Envestnet Asset Management Inc. bought a new position in Preferred Apartment Communities in the 3rd quarter worth approximately $118,000. QS Investors LLC bought a new position in Preferred Apartment Communities in the 4th quarter worth approximately $148,000. Stifel Financial Corp bought a new position in Preferred Apartment Communities in the 3rd quarter worth approximately $202,000. Intrust Bank NA bought a new position in Preferred Apartment Communities in the 4th quarter worth approximately $206,000. Finally, Schroder Investment Management Group boosted its holdings in Preferred Apartment Communities by 59.4% in the 3rd quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 4,217 shares during the period. 58.39% of the stock is owned by institutional investors.
Preferred Apartment Communities Inc. (APTS) opened at $14.54 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.04. Preferred Apartment Communities Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $22.71. The company has a market cap of $567.42, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.37.
Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $1.00. Preferred Apartment Communities had a net margin of 9.41% and a return on equity of 2.46%. The firm had revenue of $81.65 million during the quarter, compared to the consensus estimate of $83.27 million. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. equities research analysts anticipate that Preferred Apartment Communities Inc. will post 1.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Wednesday, March 14th. Preferred Apartment Communities’s payout ratio is -105.26%.
Several research firms recently commented on APTS. Zacks Investment Research raised shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday. DA Davidson set a $18.00 price objective on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a report on Thursday, March 1st. B. Riley set a $16.00 price objective on shares of Preferred Apartment Communities and gave the stock a “hold” rating in a report on Wednesday, February 28th. National Securities raised their price objective on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, SunTrust Banks began coverage on shares of Preferred Apartment Communities in a report on Thursday, January 11th. They issued a “hold” rating and a $20.00 price objective for the company. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.86.
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Preferred Apartment Communities 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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