Preferred Apartment Communities, Inc. (APTS) Insider Sells $53,125.00 in Stock
Preferred Apartment Communities, Inc. (NYSE:APTS) insider Michael Joseph Cronin sold 2,500 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the sale, the insider now directly owns 16,460 shares in the company, valued at $349,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Preferred Apartment Communities, Inc. (APTS) traded down $0.11 during trading hours on Tuesday, hitting $21.12. The stock had a trading volume of 601,178 shares, compared to its average volume of 318,312. The company has a market capitalization of $769.80, a P/E ratio of 14.67, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. Preferred Apartment Communities, Inc. has a 1 year low of $12.42 and a 1 year high of $22.71.
Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 10.49% and a return on equity of 2.78%. sell-side analysts expect that Preferred Apartment Communities, Inc. will post 1.45 EPS for the current year.
Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Preferred Apartment Communities by 15.9% in the second quarter. Goldman Sachs Group Inc. now owns 93,198 shares of the real estate investment trust’s stock valued at $1,468,000 after acquiring an additional 12,819 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Preferred Apartment Communities by 103.6% in 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 acquiring an additional 46,614 shares during the period. Northern Trust Corp lifted its holdings in Preferred Apartment Communities by 20.9% in the second quarter. Northern Trust Corp now owns 343,721 shares of the real estate investment trust’s stock valued at $5,413,000 after acquiring an additional 59,399 shares during the period. EAM Investors LLC bought a new position in Preferred Apartment Communities in the third quarter valued at about $2,080,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Preferred Apartment Communities by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 25,578 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 5,333 shares during the period. 52.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on APTS. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub cut Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. B. Riley reaffirmed a “neutral” rating and set a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd. National Securities upped their price target on Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Zacks Investment Research downgraded Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.40.
ILLEGAL ACTIVITY NOTICE: This news story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/12/12/preferred-apartment-communities-inc-apts-insider-sells-53125-00-in-stock.html.
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.
Receive News & Stock Ratings for Preferred Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Apartment Communities and related stocks with our FREE daily email newsletter.