Crow Point Partners LLC Has $5.12 Million Stake in Preferred Apartment Communities Inc. (APTS)

Crow Point Partners LLC decreased its holdings in shares of Preferred Apartment Communities Inc. (NYSE:APTS) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 250,000 shares of the real estate investment trust’s stock after selling 50,000 shares during the quarter. Preferred Apartment Communities accounts for about 0.8% of Crow Point Partners LLC’s investment portfolio, making the stock its 27th biggest position. Crow Point Partners LLC’s holdings in Preferred Apartment Communities were worth $5,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Preferred Apartment Communities by 11.7% during the second quarter. Vanguard Group Inc. now owns 1,284,654 shares of the real estate investment trust’s stock valued at $20,234,000 after buying an additional 134,981 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Preferred Apartment Communities by 119.0% during the third quarter. JPMorgan Chase & Co. now owns 1,158,689 shares of the real estate investment trust’s stock valued at $21,841,000 after buying an additional 629,616 shares during the last quarter. LSV Asset Management grew its stake in shares of Preferred Apartment Communities by 97.3% during the second quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock valued at $11,519,000 after buying an additional 360,601 shares during the last quarter. Hillcrest Asset Management LLC bought a new position in shares of Preferred Apartment Communities during the third quarter valued at approximately $12,257,000. Finally, Teachers Advisors LLC grew its stake in shares of Preferred Apartment Communities by 926.8% during the second quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock valued at $8,270,000 after buying an additional 473,918 shares during the last quarter. 51.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Preferred Apartment Communities Inc. (NYSE APTS) traded down $0.07 during trading hours on Wednesday, reaching $19.09. The company had a trading volume of 369,400 shares, compared to its average volume of 475,417. Preferred Apartment Communities Inc. has a 52 week low of $12.42 and a 52 week high of $22.71. The company has a market capitalization of $623.65, a PE ratio of -19.09, a P/E/G ratio of 1.72 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 (NYSE:APTS) last announced 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 consensus estimate of ($0.31) by ($0.18). Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. The firm had revenue of $74.90 million during the quarter, compared to the consensus estimate of $67.86 million. sell-side analysts anticipate that Preferred Apartment Communities Inc. will post 1.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 5.24%. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s dividend payout ratio is -100.00%.

Several brokerages recently issued reports on APTS. B. Riley increased their price objective on Preferred Apartment Communities from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, November 2nd. National Securities increased their price objective on Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Finally, ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.40.

In other Preferred Apartment Communities news, insider Michael Joseph Cronin sold 2,500 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $21.25, for a total transaction of $53,125.00. Following the completion of the sale, the insider now owns 16,460 shares in the company, valued at $349,775. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel M. Dupree sold 17,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the sale, the insider now owns 99,564 shares of the company’s stock, valued at approximately $2,098,809.12. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,850 shares of company stock worth $39,349 and sold 21,500 shares worth $452,685. 3.11% of the stock is owned by corporate insiders.

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Preferred Apartment Communities 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 (NYSE:APTS)

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