Preferred Apartment Communities Inc. (APTS) Short Interest Update

Preferred Apartment Communities Inc. (NYSE:APTS) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,736,034 shares, an increase of 93.6% from the November 30th total of 896,744 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily trading volume, of 604,363 shares, the days-to-cover ratio is presently 2.9 days.

Preferred Apartment Communities (NYSE APTS) opened at $17.48 on Friday. The stock has a market capitalization of $667.06, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. Preferred Apartment Communities has a 1-year low of $12.42 and a 1-year high of $22.71.

Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). Preferred Apartment Communities had a net margin of 10.49% and a return on equity of 2.78%. The company had revenue of $74.90 million during the quarter, compared to the consensus estimate of $67.86 million. equities analysts forecast that Preferred Apartment Communities will post 1.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 5.72%. The ex-dividend date is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is -99.01%.

Several analysts recently commented on the company. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. BidaskClub downgraded Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. B. Riley reaffirmed a “neutral” rating and set a $17.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a research note on Thursday, November 2nd. National Securities raised their price objective on Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Finally, SunTrust Banks started coverage on Preferred Apartment Communities in a report on Thursday. They set a “hold” rating and a $20.00 target price for the company. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $20.33.

In other news, insider Daniel M. Dupree sold 17,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the transaction, the insider now owns 99,564 shares of the company’s stock, valued at approximately $2,098,809.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Joseph Cronin sold 2,500 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the transaction, the insider now directly owns 16,460 shares in the company, valued at approximately $349,775. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,850 shares of company stock worth $39,349 and have sold 21,500 shares worth $452,685. 3.11% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new stake in Preferred Apartment Communities during the third quarter worth approximately $118,000. Schroder Investment Management Group acquired a new stake in Preferred Apartment Communities during the second quarter worth approximately $113,000. Legal & General Group Plc lifted its position in Preferred Apartment Communities by 13.3% during the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 845 shares during the last quarter. Stifel Financial Corp acquired a new stake in Preferred Apartment Communities during the third quarter worth approximately $202,000. Finally, Pitcairn Co. acquired a new stake in Preferred Apartment Communities during the third quarter worth approximately $205,000. Institutional investors and hedge funds own 51.99% of the company’s stock.

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Preferred Apartment Communities Company Profile

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.

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