Hancock Holding Co. acquired a new position in Preferred Apartment Communities Inc. (NASDAQ:APTS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,629 shares of the real estate investment trust’s stock, valued at approximately $199,000.

Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its position in Preferred Apartment Communities by 13.3% in the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 845 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Preferred Apartment Communities in the 2nd quarter valued at about $113,000. American International Group Inc. grew its holdings in shares of Preferred Apartment Communities by 7.4% in the 1st quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock valued at $185,000 after acquiring an additional 966 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Preferred Apartment Communities by 338.2% in the 2nd quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 9,131 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Preferred Apartment Communities in the 2nd quarter valued at about $189,000.

COPYRIGHT VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.thecerbatgem.com/2017/10/03/hancock-holding-co-acquires-new-stake-in-preferred-apartment-communities-inc-apts.html.

Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) opened at 19.14 on Tuesday. Preferred Apartment Communities Inc. has a 1-year low of $12.02 and a 1-year high of $19.19. The firm has a 50-day moving average price of $18.32 and a 200 day moving average price of $16.11. The company’s market cap is $637.76 million.

Preferred Apartment Communities (NASDAQ:APTS) last announced 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. 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 the consensus estimate of $63.74 million. On average, analysts predict that Preferred Apartment Communities Inc. will post ($1.08) EPS for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.94 annualized dividend and a yield of 4.91%.

Several analysts recently issued reports on the company. Canaccord Genuity set a $20.00 target price on Preferred Apartment Communities and gave the stock a “buy” rating in a report on Thursday, August 10th. BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. FBR & Co reiterated a “market perform” rating and set a $16.00 price objective on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. Finally, ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two equities 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 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.

Want to see what other hedge funds are holding APTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Preferred Apartment Communities Inc. (NASDAQ:APTS).

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

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.