JPMorgan Chase & Co. increased its holdings in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) by 9,708.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 529,073 shares of the real estate investment trust’s stock after purchasing an additional 523,679 shares during the period. JPMorgan Chase & Co. owned 1.59% of Preferred Apartment Communities worth $8,332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Preferred Apartment Communities by 103.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 91,611 shares of the real estate investment trust’s stock valued at $1,211,000 after purchasing an additional 46,614 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Preferred Apartment Communities by 14.0% during the first quarter. Oppenheimer & Co. Inc. now owns 51,607 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 6,334 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Preferred Apartment Communities by 14.8% during the first quarter. Asset Management One Co. Ltd. now owns 62,220 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 8,015 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in shares of Preferred Apartment Communities during the first quarter valued at approximately $870,000. Finally, Bessemer Group Inc. bought a new position in shares of Preferred Apartment Communities during the second quarter valued at approximately $364,000.

APTS has been the topic of a number of recent research reports. Canaccord Genuity set a $17.00 price objective on shares of Preferred Apartment Communities and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Friday, August 4th. FBR & Co reissued a “market perform” rating and set a $16.00 target price on shares of Preferred Apartment Communities in a research report on Tuesday, July 11th. Finally, ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Preferred Apartment Communities presently has a consensus rating of “Buy” and an average target price of $17.30.

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Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) opened at 18.88 on Friday. The company’s 50-day moving average is $18.02 and its 200-day moving average is $15.73. The stock’s market cap is $629.10 million. Preferred Apartment Communities Inc. has a 52-week low of $12.02 and a 52-week high of $18.95.

Preferred Apartment Communities (NASDAQ:APTS) last posted its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%. The company had revenue of $70.89 million during the quarter, compared to analysts’ expectations of $63.74 million. Equities analysts anticipate that Preferred Apartment Communities Inc. will post ($1.08) EPS for the current year.

The company 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 dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, September 14th.

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

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