Pitcairn Co. bought a new position in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,898 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Several other large investors also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Preferred Apartment Communities by 28.1% during the third quarter. Bessemer Group Inc. now owns 29,600 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 6,500 shares during the period. New York State Teachers Retirement System increased its position in shares of Preferred Apartment Communities by 447.8% during the third quarter. New York State Teachers Retirement System now owns 12,600 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 10,300 shares during the period. Aperio Group LLC increased its position in shares of Preferred Apartment Communities by 13.5% during the third quarter. Aperio Group LLC now owns 50,149 shares of the real estate investment trust’s stock worth $947,000 after acquiring an additional 5,979 shares during the period. Nationwide Fund Advisors increased its position in shares of Preferred Apartment Communities by 102.4% during the third quarter. Nationwide Fund Advisors now owns 152,750 shares of the real estate investment trust’s stock worth $2,884,000 after acquiring an additional 77,266 shares during the period. Finally, CAPROCK Group Inc. purchased a new position in shares of Preferred Apartment Communities during the third quarter worth approximately $226,000.

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A number of equities analysts have recently issued reports on the stock. Canaccord Genuity set a $20.00 price objective on shares of Preferred Apartment Communities and gave the company a “buy” rating in a research note on Thursday, August 10th. 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. BidaskClub upgraded shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. B. Riley reiterated a “neutral” rating and set a $17.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Preferred Apartment Communities currently has a consensus rating of “Buy” and an average price target of $19.20.

Preferred Apartment Communities Inc. (NASDAQ APTS) traded up $0.24 during midday trading on Monday, hitting $21.34. 78,788 shares of the stock were exchanged, compared to its average volume of 291,494. Preferred Apartment Communities Inc. has a 1 year low of $12.42 and a 1 year high of $21.23.

Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.18). The business had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.68%. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is -94.00%.

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.

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

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