California State Teachers Retirement System Has $1.16 Million Position in Preferred Apartment (APTS)

California State Teachers Retirement System boosted its holdings in Preferred Apartment (NYSE:APTS) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,493 shares of the real estate investment trust’s stock after purchasing an additional 5,610 shares during the period. California State Teachers Retirement System’s holdings in Preferred Apartment were worth $1,164,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in shares of Preferred Apartment in the third quarter valued at $118,000. QS Investors LLC bought a new stake in shares of Preferred Apartment in the fourth quarter valued at $148,000. Stifel Financial Corp bought a new stake in shares of Preferred Apartment in the third quarter valued at $202,000. Intrust Bank NA bought a new stake in shares of Preferred Apartment in the fourth quarter valued at $206,000. Finally, Schroder Investment Management Group raised its stake in shares of Preferred Apartment by 59.4% in the third quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 4,217 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.

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NYSE:APTS opened at $14.23 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.06 and a current ratio of 0.06. Preferred Apartment has a 52-week low of $13.37 and a 52-week high of $22.71. The firm has a market cap of $565.85, a P/E ratio of 9.68, a P/E/G ratio of 1.43 and a beta of 0.29.

Preferred Apartment (NYSE:APTS) last released its quarterly earnings data on Monday, February 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $1.00. Preferred Apartment had a return on equity of 2.46% and a net margin of 9.41%. The company had revenue of $81.65 million for the quarter, compared to analyst estimates of $83.27 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year. research analysts forecast that Preferred Apartment will post 1.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.03%. Preferred Apartment’s payout ratio is 68.03%.

Several brokerages have issued reports on APTS. Zacks Investment Research lowered Preferred Apartment from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. DA Davidson set a $18.00 target price on Preferred Apartment and gave the company a “buy” rating in a research note on Thursday, March 1st. B. Riley set a $16.00 target price on Preferred Apartment and gave the company a “hold” rating in a research note on Wednesday, February 28th. SunTrust Banks began coverage on Preferred Apartment in a research note on Thursday, January 11th. They issued a “hold” rating and a $20.00 target price on the stock. Finally, ValuEngine upgraded Preferred Apartment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $19.86.

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

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