First City Capital Management Inc. boosted its stake in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,644 shares of the real estate investment trust’s stock after buying an additional 1,021 shares during the period. First City Capital Management Inc.’s holdings in Preferred Apartment Communities were worth $262,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in APTS. Schroder Investment Management Group bought a new stake in shares of Preferred Apartment Communities in the second quarter valued at about $113,000. Legal & General Group Plc boosted its position in shares of Preferred Apartment Communities by 13.3% during the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 845 shares during the period. Citigroup Inc. boosted its position in shares of Preferred Apartment Communities by 338.2% during the second quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 9,131 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in shares of Preferred Apartment Communities during the second quarter worth about $189,000. Finally, Hancock Holding Co. acquired a new position in shares of Preferred Apartment Communities during the second quarter worth about $199,000.

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A number of brokerages recently issued reports on APTS. Zacks Investment Research raised Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Friday, August 4th. Canaccord Genuity set a $20.00 target price on Preferred Apartment Communities and gave the company a “buy” rating in a research note on Thursday, August 10th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, FBR & Co reaffirmed a “market perform” rating and set a $16.00 price target on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $17.30.

Preferred Apartment Communities Inc. (NASDAQ:APTS) traded up 0.16% during trading on Monday, hitting $18.91. 81,753 shares of the stock were exchanged. Preferred Apartment Communities Inc. has a 52 week low of $12.02 and a 52 week high of $19.04. The firm’s market cap is $630.10 million. The firm’s 50-day moving average is $18.02 and its 200 day moving average is $15.73.

Preferred Apartment Communities (NASDAQ:APTS) last announced 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 business 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%. Analysts expect that Preferred Apartment Communities Inc. will post ($1.08) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Thursday, September 14th.

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.

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

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