Trustcore Financial Services LLC grew its stake in Preferred Apartment Communities Inc. (NYSE:APTS) by 16.7% during the fourth quarter, HoldingsChannel reports. The firm owned 19,600 shares of the real estate investment trust’s stock after purchasing an additional 2,800 shares during the period. Trustcore Financial Services LLC’s holdings in Preferred Apartment Communities were worth $276,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. MetLife Investment Advisors LLC raised its holdings in Preferred Apartment Communities by 48.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 27,985 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 9,146 shares during the period. State of New Jersey Common Pension Fund D raised its position in Preferred Apartment Communities by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 460,000 shares of the real estate investment trust’s stock worth $8,087,000 after acquiring an additional 30,000 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Preferred Apartment Communities by 5.3% during the third quarter. TIAA CREF Investment Management LLC now owns 380,678 shares of the real estate investment trust’s stock worth $6,692,000 after acquiring an additional 19,077 shares during the last quarter. Clarus Wealth Advisors raised its position in Preferred Apartment Communities by 5.8% during the fourth quarter. Clarus Wealth Advisors now owns 46,443 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 2,535 shares during the last quarter. Finally, Palo Capital Inc. acquired a new position in Preferred Apartment Communities during the third quarter worth about $211,000. Institutional investors own 59.14% of the company’s stock.

In other news, Director William J. Gresham, Jr. sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $14.91, for a total value of $26,838.00. Following the completion of the transaction, the director now owns 31,833 shares of the company’s stock, valued at $474,630.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.62% of the company’s stock.

APTS has been the subject of a number of research reports. Boenning Scattergood restated a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. JMP Securities cut their target price on shares of Preferred Apartment Communities from $20.00 to $18.00 and set a “market outperform” rating for the company in a research report on Tuesday, December 4th. B. Riley restated a “neutral” rating on shares of Preferred Apartment Communities in a research report on Wednesday, November 14th. Finally, ValuEngine cut shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Preferred Apartment Communities currently has an average rating of “Hold” and an average price target of $17.83.

Shares of NYSE:APTS remained flat at $$15.90 during trading on Monday. 17,472 shares of the stock were exchanged, compared to its average volume of 228,922. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $652.70 million, a price-to-earnings ratio of 10.82, a PEG ratio of 1.42 and a beta of 0.53. Preferred Apartment Communities Inc. has a twelve month low of $13.14 and a twelve month high of $18.60.

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Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.

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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. (NYSE:APTS).

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

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