361 Capital LLC Raises Position in Preferred Apartment Communities Inc. (APTS)

361 Capital LLC increased its stake in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) by 91.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,264 shares of the real estate investment trust’s stock after buying an additional 12,093 shares during the period. 361 Capital LLC owned 0.08% of Preferred Apartment Communities worth $398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Preferred Apartment Communities by 11.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,284,654 shares of the real estate investment trust’s stock worth $20,234,000 after buying an additional 134,981 shares in the last quarter. LSV Asset Management lifted its position in Preferred Apartment Communities by 97.3% during the 2nd quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock worth $11,519,000 after buying an additional 360,601 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Preferred Apartment Communities by 9,708.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 529,073 shares of the real estate investment trust’s stock worth $8,332,000 after buying an additional 523,679 shares in the last quarter. Teachers Advisors LLC lifted its position in Preferred Apartment Communities by 926.8% during the 2nd quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock worth $8,270,000 after buying an additional 473,918 shares in the last quarter. Finally, State Street Corp lifted its position in Preferred Apartment Communities by 23.2% during the 2nd quarter. State Street Corp now owns 492,213 shares of the real estate investment trust’s stock worth $7,754,000 after buying an additional 92,835 shares in the last quarter.

Shares of Preferred Apartment Communities Inc. (APTS) traded up 0.82% during mid-day trading on Thursday, reaching $19.63. The company’s stock had a trading volume of 44,319 shares. Preferred Apartment Communities Inc. has a 12 month low of $12.26 and a 12 month high of $19.63. The firm’s market cap is $654.09 million. The company has a 50-day moving average of $18.52 and a 200-day moving average of $16.39.

Preferred Apartment Communities (NASDAQ:APTS) last announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. The firm had revenue of $70.89 million for the quarter, compared to analyst estimates of $63.74 million. On average, analysts predict that Preferred Apartment Communities Inc. will post ($1.08) earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, September 14th.

Several brokerages recently issued reports on APTS. Zacks Investment Research upgraded shares of 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 price target on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a research report on Thursday, August 10th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, FBR & Co reissued a “market perform” rating and set a $16.00 price objective on shares of Preferred Apartment Communities in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.63.

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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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