Advisor Group Holdings Inc. Purchases 7,444 Shares of Preferred Apartment Communities, Inc. (NYSE:APTS)

Advisor Group Holdings Inc. grew its position in Preferred Apartment Communities, Inc. (NYSE:APTS) by 2.8% during the third quarter, Holdings Channel reports. The institutional investor owned 276,475 shares of the real estate investment trust’s stock after acquiring an additional 7,444 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Preferred Apartment Communities were worth $3,381,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APTS. Nuveen Asset Management LLC raised its position in shares of Preferred Apartment Communities by 93.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 906,399 shares of the real estate investment trust’s stock valued at $8,837,000 after purchasing an additional 438,052 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Preferred Apartment Communities by 432.5% in the 2nd quarter. Renaissance Technologies LLC now owns 307,796 shares of the real estate investment trust’s stock valued at $3,001,000 after purchasing an additional 249,996 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Preferred Apartment Communities by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,044,253 shares of the real estate investment trust’s stock valued at $49,181,000 after purchasing an additional 230,935 shares during the last quarter. Miller Value Partners LLC purchased a new position in shares of Preferred Apartment Communities in the 2nd quarter valued at approximately $2,047,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Preferred Apartment Communities in the 2nd quarter valued at approximately $1,561,000. Institutional investors and hedge funds own 51.93% of the company’s stock.

A number of research firms have issued reports on APTS. B. Riley reissued a “neutral” rating on shares of Preferred Apartment Communities in a research report on Tuesday, September 28th. Truist raised their price target on shares of Preferred Apartment Communities from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, December 6th. Zacks Investment Research raised shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday, November 30th. Truist Securities raised their price target on shares of Preferred Apartment Communities from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, December 6th. Finally, Colliers Securities reissued a “buy” rating and set a $18.00 price target on shares of Preferred Apartment Communities in a research report on Thursday, November 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $14.58.

NYSE:APTS opened at $18.09 on Friday. The firm has a market cap of $957.79 million, a price-to-earnings ratio of -5.91, a price-to-earnings-growth ratio of 2.41 and a beta of 1.18. The company has a 50 day moving average price of $15.34 and a 200-day moving average price of $12.89. Preferred Apartment Communities, Inc. has a 1-year low of $7.04 and a 1-year high of $19.27.

Preferred Apartment Communities (NYSE:APTS) last posted its earnings results on Monday, November 8th. The real estate investment trust reported ($0.92) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($1.11). Preferred Apartment Communities had a net margin of 5.71% and a return on equity of 2.04%. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, equities research analysts forecast that Preferred Apartment Communities, Inc. will post 1.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Wednesday, December 15th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Tuesday, December 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is -22.88%.

Preferred Apartment Communities Profile

Preferred Apartment Communities, Inc engages in the acquisition and operation of multifamily properties in select targeted markets throughout the United States. It operates through the following segments: Multifamily Communities, Financing, New Market Properties, Preferred Office Properties, and Others.

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

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