Eagle Global Advisors LLC Acquires Shares of 20,420 Preferred Apartment Communities Inc. (APTS)

Eagle Global Advisors LLC acquired a new stake in shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,420 shares of the real estate investment trust’s stock, valued at approximately $270,000.

A number of other institutional investors have also made changes to their positions in APTS. Independent Portfolio Consultants Inc. acquired a new position in shares of Preferred Apartment Communities during the first quarter valued at $121,000. Wedbush Securities Inc. acquired a new position in shares of Preferred Apartment Communities during the first quarter valued at $138,000. 361 Capital LLC acquired a new position in shares of Preferred Apartment Communities during the first quarter valued at $174,000. Stevens Capital Management LP raised its position in shares of Preferred Apartment Communities by 21.4% in the first quarter. Stevens Capital Management LP now owns 15,346 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 2,700 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Preferred Apartment Communities during the first quarter valued at $223,000.

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

Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) traded down 0.46% during midday trading on Friday, reaching $15.14. 795,091 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $14.33 and a 200-day moving average price of $13.85. Preferred Apartment Communities Inc. has a 52-week low of $12.02 and a 52-week high of $15.96. The stock’s market cap is $425.25 million.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings results on Monday, February 27th. The real estate investment trust reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.98. The firm had revenue of $58.99 million for the quarter, compared to analysts’ expectations of $56.54 million. Analysts forecast that Preferred Apartment Communities Inc. will post ($1.36) earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a $0.235 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 6.21%. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.22.

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Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Monday. Canaccord Genuity set a $16.00 target price on shares of Preferred Apartment Communities and gave the company a “buy” rating in a research note on Monday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $15.67.

In other news, insider Daniel M. Dupree sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $12.53, for a total value of $125,300.00. Following the transaction, the insider now owns 130,600 shares in the company, valued at approximately $1,636,418. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Dupree sold 13,280 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $12.87, for a total transaction of $170,913.60. Following the completion of the transaction, the insider now owns 116,564 shares in the company, valued at approximately $1,500,178.68. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock worth $300,114 in the last 90 days.

About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

5 Day Chart for NASDAQ:APTS

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