LSV Asset Management lifted its position in Preferred Apartment Communities Inc. (NYSE:APTS) by 29.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,923,112 shares of the real estate investment trust’s stock after acquiring an additional 431,764 shares during the quarter. LSV Asset Management’s holdings in Preferred Apartment Communities were worth $33,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Preferred Apartment Communities during the second quarter worth $122,000. Sun Life Financial INC acquired a new position in Preferred Apartment Communities during the second quarter worth $150,000. Sei Investments Co. raised its position in Preferred Apartment Communities by 61.3% during the second quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 3,774 shares during the period. Palo Capital Inc. acquired a new position in Preferred Apartment Communities during the third quarter worth $211,000. Finally, Intrust Bank NA acquired a new position in Preferred Apartment Communities during the second quarter worth $219,000. Hedge funds and other institutional investors own 57.47% of the company’s stock.
In other news, Director Timothy Alan Peterson sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $18.11, for a total transaction of $99,605.00. Following the completion of the sale, the director now owns 54,166 shares of the company’s stock, valued at $980,946.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on APTS shares. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Boenning Scattergood started coverage on shares of Preferred Apartment Communities in a research report on Monday, September 17th. They set an “outperform” rating and a $22.00 price objective for the company. ValuEngine cut shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, B. Riley restated a “neutral” rating on shares of Preferred Apartment Communities in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.17.
Preferred Apartment Communities stock opened at $15.49 on Friday. Preferred Apartment Communities Inc. has a 52-week low of $13.60 and a 52-week high of $21.98. The firm has a market cap of $635.85 million, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.04.
Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.09). Preferred Apartment Communities had a return on equity of 0.88% and a net margin of 3.29%. The business had revenue of $104.20 million for the quarter, compared to analysts’ expectations of $100.95 million. The firm’s revenue for the quarter was up 39.1% compared to the same quarter last year. Equities research analysts anticipate that Preferred Apartment Communities Inc. will post 1.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.26 per share. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.71%. Preferred Apartment Communities’s dividend payout ratio is presently 69.39%.
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Preferred Apartment Communities 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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