Bessemer Group Inc. bought a new stake in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,100 shares of the real estate investment trust’s stock, valued at approximately $364,000. Bessemer Group Inc. owned approximately 0.08% of Preferred Apartment Communities as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Preferred Apartment Communities by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,149,673 shares of the real estate investment trust’s stock valued at $15,187,000 after buying an additional 56,507 shares during the period. Bank of Montreal Can raised its position in Preferred Apartment Communities by 14,877.4% in the second quarter. Bank of Montreal Can now owns 379,528 shares of the real estate investment trust’s stock valued at $5,978,000 after buying an additional 376,994 shares during the period. LSV Asset Management raised its position in Preferred Apartment Communities by 8.6% in the first quarter. LSV Asset Management now owns 370,765 shares of the real estate investment trust’s stock valued at $4,897,000 after buying an additional 29,233 shares during the period. State Street Corp raised its position in Preferred Apartment Communities by 15.6% in the fourth quarter. State Street Corp now owns 360,122 shares of the real estate investment trust’s stock valued at $5,369,000 after buying an additional 48,597 shares during the period. Finally, Neuberger Berman Group LLC raised its position 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 valued at $4,442,000 after buying an additional 79,060 shares during the period.

Preferred Apartment Communities Inc. (NASDAQ APTS) opened at 17.87 on Monday. The stock has a 50 day moving average price of $16.88 and a 200-day moving average price of $15.08. The company’s market capitalization is $595.45 million. Preferred Apartment Communities Inc. has a 1-year low of $12.02 and a 1-year high of $18.55.

Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $70.89 million for the quarter, compared to analysts’ expectations of $63.74 million. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%. Equities analysts predict that Preferred Apartment Communities Inc. will post ($0.96) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.94 annualized dividend and a yield of 5.26%.

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Several equities analysts have weighed in on APTS shares. FBR & Co restated a “market perform” rating and set a $16.00 target price on shares of Preferred Apartment Communities in a report on Tuesday, July 11th. BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Canaccord Genuity set a $20.00 target price on Preferred Apartment Communities and gave the company a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Finally, National Securities restated a “buy” rating and set a $20.00 target price (up from $16.00) on shares of Preferred Apartment Communities in a report on Tuesday, May 23rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.30.

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

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