Schwab Charles Investment Management Inc. raised its position in Preferred Apartment Communities Inc. (NASDAQ:APTS) by 103.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,611 shares of the real estate investment trust’s stock after buying an additional 46,614 shares during the period. Schwab Charles Investment Management Inc. owned about 0.33% of Preferred Apartment Communities worth $1,211,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Independent Portfolio Consultants Inc. purchased a new position in Preferred Apartment Communities during the first quarter worth $121,000. Wedbush Securities Inc. purchased a new position in Preferred Apartment Communities during the first quarter worth $138,000. 361 Capital LLC purchased a new position in Preferred Apartment Communities during the first quarter worth $174,000. American International Group Inc. raised its position in Preferred Apartment Communities by 7.4% in the first quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 966 shares in the last quarter. Finally, Stevens Capital Management LP raised its position in Preferred Apartment Communities by 21.4% in the first quarter. Stevens Capital Management LP now owns 15,346 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 2,700 shares in the last quarter.

Preferred Apartment Communities Inc. (APTS) traded up 0.348% during midday trading on Wednesday, reaching $18.163. 70,705 shares of the company were exchanged. Preferred Apartment Communities Inc. has a 52-week low of $12.02 and a 52-week high of $18.55. The firm’s 50-day moving average price is $17.19 and its 200 day moving average price is $15.24. The stock’s market capitalization is $605.21 million.

Preferred Apartment Communities (NASDAQ:APTS) last released its earnings results on Monday, July 31st. The real estate investment trust reported $0.37 EPS 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 negative return on equity of 4.73% and a net margin of 4.66%. Equities analysts predict that Preferred Apartment Communities Inc. will post ($1.08) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 5.19%. The ex-dividend date is Thursday, September 14th.

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A number of equities analysts have recently weighed in on APTS shares. Canaccord Genuity set a $17.00 price objective on shares of Preferred Apartment Communities and gave the company a “buy” rating in a research report on Monday, July 31st. National Securities reissued a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Tuesday, May 23rd. BidaskClub lowered shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research raised shares of Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, FBR & Co set a $15.00 price objective on shares of Preferred Apartment Communities and gave the company a “hold” rating in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.30.

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 (NASDAQ:APTS)

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