Preferred Apartment Communities Inc. (NASDAQ:APTS) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the stock. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.60.

A number of analysts recently issued reports on the company. National Securities increased their target price on Preferred Apartment Communities from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, September 8th. Wunderlich reissued a “buy” rating and set a $15.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 4th. Compass Point reissued a “buy” rating and set a $16.50 target price (up from $14.00) on shares of Preferred Apartment Communities in a research note on Wednesday, August 3rd. Finally, FBR & Co reissued an “outperform” rating and set a $17.00 target price (up from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday, August 11th.

Shares of Preferred Apartment Communities (NASDAQ:APTS) traded up 0.61% during mid-day trading on Wednesday, hitting $13.17. 215,901 shares of the stock were exchanged. The firm has a 50-day moving average price of $13.00 and a 200 day moving average price of $13.77. Preferred Apartment Communities has a 12-month low of $10.29 and a 12-month high of $15.39.

Several institutional investors have recently modified their holdings of the company. Crow Point Partners LLC acquired a new position in shares of Preferred Apartment Communities during the third quarter valued at $6,080,000. KCM Investment Advisors LLC increased its stake in Preferred Apartment Communities by 1.5% in the third quarter. KCM Investment Advisors LLC now owns 247,150 shares of the company’s stock valued at $3,339,000 after buying an additional 3,750 shares during the last quarter. National Asset Management Inc. increased its stake in Preferred Apartment Communities by 9.1% in the third quarter. National Asset Management Inc. now owns 50,125 shares of the company’s stock valued at $678,000 after buying an additional 4,200 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Preferred Apartment Communities during the third quarter valued at approximately $234,000. Finally, Two Sigma Advisers LP bought a new stake in Preferred Apartment Communities during the third quarter valued at approximately $526,000.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail and real estate related financing.

5 Day Chart for NASDAQ:APTS

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