Preferred Apartment Communities, Inc. (NYSE:APTS) Director Sara Finley bought 5,000 shares of Preferred Apartment Communities stock in a transaction dated Monday, June 7th. The shares were bought at an average cost of $10.51 per share, with a total value of $52,550.00. Following the completion of the acquisition, the director now owns 32,594 shares of the company’s stock, valued at $342,562.94. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NYSE APTS opened at $11.13 on Friday. The stock has a market capitalization of $557.56 million, a P/E ratio of -3.32 and a beta of 1.13. Preferred Apartment Communities, Inc. has a 12 month low of $5.01 and a 12 month high of $11.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The company’s fifty day moving average 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) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.97). Preferred Apartment Communities had a negative net margin of 0.83% and a negative return on equity of 0.26%. Research analysts anticipate that Preferred Apartment Communities, Inc. will post 0.85 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Preferred Apartment Communities by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 444,269 shares of the real estate investment trust’s stock valued at $3,288,000 after buying an additional 49,847 shares during the period. Stockman Wealth Management Inc. raised its position in Preferred Apartment Communities by 54.1% during the first quarter. Stockman Wealth Management Inc. now owns 70,835 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 24,865 shares during the period. Rhumbline Advisers raised its position in Preferred Apartment Communities by 12.9% during the fourth quarter. Rhumbline Advisers now owns 89,383 shares of the real estate investment trust’s stock valued at $661,000 after buying an additional 10,245 shares during the period. Citigroup Inc. raised its position in Preferred Apartment Communities by 169.6% during the fourth quarter. Citigroup Inc. now owns 11,491 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 7,228 shares during the period. Finally, Jane Street Group LLC increased its position in Preferred Apartment Communities by 80.1% in the 4th quarter. Jane Street Group LLC now owns 18,186 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 8,091 shares during the last quarter. 51.13% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 4th.
About Preferred Apartment Communities
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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