Preferred Apartment Communities (NYSE:APTS) Reaches New 52-Week High Following Insider Buying Activity

Preferred Apartment Communities, Inc. (NYSE:APTS)’s share price hit a new 52-week high on Wednesday after an insider bought additional shares in the company. The company traded as high as $10.98 and last traded at $10.96, with a volume of 24861 shares trading hands. The stock had previously closed at $10.65.

Specifically, Director Sara Finley bought 5,000 shares of Preferred Apartment Communities stock in a transaction dated Monday, June 7th. The stock was purchased at an average price of $10.51 per share, for a total transaction of $52,550.00. Following the purchase, the director now directly owns 32,594 shares in the company, valued at approximately $342,562.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.62% of the company’s stock.

Separately, Zacks Investment Research cut shares of Preferred Apartment Communities from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 4th.

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $557.56 million, a PE ratio of -3.32 and a beta of 1.13. The company’s 50-day moving average price is $10.09.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings results on Sunday, May 9th. The real estate investment trust reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.97). Preferred Apartment Communities had a negative return on equity of 0.26% and a negative net margin of 0.83%. As a group, research analysts predict that Preferred Apartment Communities, Inc. will post 0.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Tuesday, June 15th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 6.29%. The ex-dividend date is Monday, June 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 65.42%.

A number of institutional investors have recently made changes to their positions in APTS. Carolina Wealth Advisors LLC grew its position in shares of Preferred Apartment Communities by 65.7% during the 1st quarter. Carolina Wealth Advisors LLC now owns 2,522 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,000 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Preferred Apartment Communities by 113.0% during the 1st quarter. International Assets Investment Management LLC now owns 8,200 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 4,350 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Preferred Apartment Communities during the 4th quarter worth $74,000. ProShare Advisors LLC purchased a new stake in shares of Preferred Apartment Communities during the 4th quarter worth $78,000. Finally, Marshall Wace LLP purchased a new stake in shares of Preferred Apartment Communities during the 1st quarter worth $80,000. 51.13% of the stock is currently owned by institutional investors.

Preferred Apartment Communities Company Profile (NYSE:APTS)

Preferred Apartment Communities, Inc (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers, Class A office buildings, and student housing properties. Preferred Apartment Communities' investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans for multifamily properties.

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