Vanguard Group Inc. Has $64.73 Million Stock Position in Preferred Apartment Communities Inc. (NYSE:APTS)

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Vanguard Group Inc. increased its holdings in shares of Preferred Apartment Communities Inc. (NYSE:APTS) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,329,710 shares of the real estate investment trust’s stock after purchasing an additional 92,755 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Preferred Apartment Communities worth $64,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in Preferred Apartment Communities by 3.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 32,984 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 963 shares during the period. Sound Income Strategies LLC grew its stake in Preferred Apartment Communities by 82.3% during the second quarter. Sound Income Strategies LLC now owns 2,215 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,000 shares during the period. Monarch Partners Asset Management LLC grew its stake in Preferred Apartment Communities by 2.6% during the second quarter. Monarch Partners Asset Management LLC now owns 52,030 shares of the real estate investment trust’s stock worth $778,000 after purchasing an additional 1,300 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Preferred Apartment Communities by 33.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,557 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 2,400 shares during the period. Finally, US Bancorp DE grew its stake in Preferred Apartment Communities by 11.3% during the first quarter. US Bancorp DE now owns 24,627 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 2,505 shares during the period. 60.94% of the stock is owned by institutional investors and hedge funds.

APTS stock opened at $14.33 on Friday. Preferred Apartment Communities Inc. has a twelve month low of $13.14 and a twelve month high of $17.40. The stock’s 50 day moving average is $14.19 and its 200-day moving average is $14.95. The firm has a market capitalization of $634.84 million, a PE ratio of 10.16, a P/E/G ratio of 1.41 and a beta of 0.46.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.262 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 7.31%. Preferred Apartment Communities’s dividend payout ratio is presently 74.47%.

Several research firms recently commented on APTS. Compass Point reiterated a “buy” rating and set a $19.00 price target on shares of Preferred Apartment Communities in a research note on Monday, July 22nd. DA Davidson lowered Preferred Apartment Communities from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. Zacks Investment Research lowered Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, National Securities initiated coverage on Preferred Apartment Communities in a report on Monday, September 16th. They issued a “buy” rating and a $18.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Preferred Apartment Communities has a consensus rating of “Buy” and an average price target of $17.75.

Preferred Apartment Communities Company Profile

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.

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

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