RMR Advisors LLC boosted its holdings in shares of Preferred Apartment Communities Inc. (NYSE:APTS) by 54.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,479 shares of the real estate investment trust’s stock after buying an additional 20,000 shares during the quarter. RMR Advisors LLC owned 0.13% of Preferred Apartment Communities worth $837,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its holdings in shares of Preferred Apartment Communities by 100.0% in the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Preferred Apartment Communities in the first quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Preferred Apartment Communities by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,259 shares during the period. Legal & General Group Plc lifted its stake in shares of Preferred Apartment Communities by 11.7% in the fourth quarter. Legal & General Group Plc now owns 6,873 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 721 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Preferred Apartment Communities in the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 59.84% of the company’s stock.
APTS traded down $0.09 during midday trading on Wednesday, reaching $14.95. 1,829 shares of the company’s stock were exchanged, compared to its average volume of 270,426. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $640.01 million, a P/E ratio of 10.54, a PEG ratio of 1.50 and a beta of 0.51. Preferred Apartment Communities Inc. has a 1-year low of $13.14 and a 1-year high of $18.60.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend was Thursday, March 14th. Preferred Apartment Communities’s payout ratio is currently 73.76%.
APTS has been the subject of several recent analyst reports. ValuEngine upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. Boenning Scattergood reiterated a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, February 26th. Finally, Zacks Investment Research cut shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.25.
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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