National Securities Begins Coverage on Preferred Apartment Communities (NYSE:APTS)

National Securities initiated coverage on shares of Preferred Apartment Communities (NYSE:APTS) in a research note published on Monday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $18.00 target price on the real estate investment trust’s stock.

Several other research firms also recently commented on APTS. ValuEngine downgraded shares of Preferred Apartment Communities from a buy rating to a hold rating in a research report on Thursday, June 13th. DA Davidson downgraded shares of Preferred Apartment Communities from a buy rating to a neutral rating in a research report on Tuesday, July 30th. Zacks Investment Research downgraded shares of Preferred Apartment Communities from a buy rating to a hold rating in a research report on Thursday, July 25th. Finally, Compass Point reiterated a buy rating and set a $19.00 price target on shares of Preferred Apartment Communities in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Preferred Apartment Communities currently has a consensus rating of Buy and an average target price of $17.75.

Preferred Apartment Communities stock opened at $14.27 on Monday. The firm has a market cap of $644.67 million, a PE ratio of 10.12, a P/E/G ratio of 1.42 and a beta of 0.47. The firm’s 50 day moving average price is $14.17 and its two-hundred day moving average price is $15.09. Preferred Apartment Communities has a twelve month low of $13.14 and a twelve month high of $18.42.

Preferred Apartment Communities (NYSE:APTS) last posted its earnings results on Monday, July 29th. The real estate investment trust reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.97). The business had revenue of $113.85 million during the quarter, compared to the consensus estimate of $115.58 million. Preferred Apartment Communities had a return on equity of 1.87% and a net margin of 7.08%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. Research analysts expect that Preferred Apartment Communities will post 1.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.262 dividend. This represents a $1.05 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend is Thursday, September 12th. Preferred Apartment Communities’s dividend payout ratio is 74.47%.

A number of hedge funds have recently bought and sold shares of APTS. Sound Income Strategies LLC boosted its holdings in shares of Preferred Apartment Communities by 82.3% during the 2nd quarter. Sound Income Strategies LLC now owns 2,215 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,000 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth $42,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth $48,000. New York State Teachers Retirement System bought a new stake in shares of Preferred Apartment Communities during the 1st quarter worth $52,000. Finally, Marshall Wace LLP bought a new stake in shares of Preferred Apartment Communities during the 1st quarter worth $80,000. 60.94% of the stock is owned by institutional investors.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.

Further Reading: Front-End Load

Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit