Preferred Apartment Communities Inc. (NASDAQ:APTS) has been given an average rating of “Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.63.

A number of brokerages have recently weighed in on APTS. Zacks Investment Research cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. FBR & Co set a $15.00 price objective on Preferred Apartment Communities and gave the company a “hold” rating in a research note on Wednesday, May 31st. National Securities reaffirmed a “buy” rating and issued a $20.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a research note on Tuesday, May 23rd. Canaccord Genuity set a $17.00 price objective on Preferred Apartment Communities and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st.

Shares of Preferred Apartment Communities (APTS) traded up 0.16% during trading on Wednesday, reaching $18.23. The company’s stock had a trading volume of 253,821 shares. Preferred Apartment Communities has a one year low of $12.02 and a one year high of $18.55. The stock’s market cap is $607.44 million. The company has a 50-day moving average price of $17.19 and a 200-day moving average price of $15.24.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. The business had revenue of $70.89 million during the quarter, compared to analysts’ expectations of $63.74 million. On average, equities research analysts forecast that Preferred Apartment Communities will post ($1.08) earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be paid a dividend of $0.235 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.94 annualized dividend and a yield of 5.16%.

TRADEMARK VIOLATION NOTICE: This story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/26/brokerages-set-preferred-apartment-communities-inc-apts-price-target-at-17-63.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Preferred Apartment Communities by 11.7% in the second quarter. Vanguard Group Inc. now owns 1,284,654 shares of the real estate investment trust’s stock valued at $20,234,000 after buying an additional 134,981 shares during the last quarter. LSV Asset Management boosted its position in Preferred Apartment Communities by 97.3% in the second quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock valued at $11,519,000 after buying an additional 360,601 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Preferred Apartment Communities by 9,708.5% in the second quarter. JPMorgan Chase & Co. now owns 529,073 shares of the real estate investment trust’s stock valued at $8,332,000 after buying an additional 523,679 shares during the last quarter. Teachers Advisors LLC boosted its position in Preferred Apartment Communities by 926.8% in the second quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock valued at $8,270,000 after buying an additional 473,918 shares during the last quarter. Finally, State Street Corp boosted its position in Preferred Apartment Communities by 23.2% in the second quarter. State Street Corp now owns 492,213 shares of the real estate investment trust’s stock valued at $7,754,000 after buying an additional 92,835 shares during the last quarter.

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.

Receive News & Stock Ratings for Preferred Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Apartment Communities Inc. and related stocks with our FREE daily email newsletter.