Advisor Group Holdings Inc. Increases Stake in Preferred Apartment Communities, Inc. (NYSE:APTS)

Advisor Group Holdings Inc. raised its holdings in shares of Preferred Apartment Communities, Inc. (NYSE:APTS) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,475 shares of the real estate investment trust’s stock after buying an additional 7,444 shares during the period. Advisor Group Holdings Inc. owned about 0.53% of Preferred Apartment Communities worth $3,381,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. J.W. Cole Advisors Inc. increased its holdings in Preferred Apartment Communities by 3.9% during the third quarter. J.W. Cole Advisors Inc. now owns 22,118 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 826 shares during the last quarter. Wedbush Securities Inc. boosted its position in shares of Preferred Apartment Communities by 3.3% in the third quarter. Wedbush Securities Inc. now owns 26,459 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 855 shares during the period. Strs Ohio boosted its position in shares of Preferred Apartment Communities by 1.6% in the third quarter. Strs Ohio now owns 68,999 shares of the real estate investment trust’s stock worth $843,000 after purchasing an additional 1,101 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Preferred Apartment Communities by 2.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 75,013 shares of the real estate investment trust’s stock worth $917,000 after purchasing an additional 1,783 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Preferred Apartment Communities by 12.7% in the third quarter. Commonwealth Equity Services LLC now owns 16,294 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 1,833 shares during the period. 51.93% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the stock. Truist Securities upped 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 upgraded 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. B. Riley restated a “neutral” rating on shares of Preferred Apartment Communities in a research report on Tuesday, September 28th. Colliers Securities restated a “buy” rating and set a $18.00 target price on shares of Preferred Apartment Communities in a research report on Thursday, November 11th. Finally, Truist upped their target price 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.58.

Shares of 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 P/E/G ratio of 2.41 and a beta of 1.18. The firm has a fifty day moving average price of $15.34 and a 200 day moving average price of $12.89. Preferred Apartment Communities, Inc. has a fifty-two week low of $7.04 and a fifty-two week high of $19.27.

Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings results on Monday, November 8th. The real estate investment trust reported ($0.92) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company posted $0.26 EPS. Equities research analysts anticipate that Preferred Apartment Communities, Inc. will post 1.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Wednesday, December 15th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Tuesday, December 14th. Preferred Apartment Communities’s payout ratio is -22.88%.

Preferred Apartment Communities Company 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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