Homrich & Berg Purchases New Stake in Preferred Apartment Communities Inc. (APTS)

Homrich & Berg purchased a new stake in Preferred Apartment Communities Inc. (NYSE:APTS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,000 shares of the real estate investment trust’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Preferred Apartment Communities by 73.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 411,320 shares of the real estate investment trust’s stock valued at $7,766,000 after purchasing an additional 174,578 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Preferred Apartment Communities by 15.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 93,198 shares of the real estate investment trust’s stock valued at $1,468,000 after purchasing an additional 12,819 shares during the last quarter. RMR Advisors LLC purchased a new stake in shares of Preferred Apartment Communities during the 4th quarter valued at $739,000. JPMorgan Chase & Co. increased its position in shares of Preferred Apartment Communities by 119.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,158,689 shares of the real estate investment trust’s stock valued at $21,841,000 after purchasing an additional 629,616 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Preferred Apartment Communities by 102.4% during the 3rd quarter. Nationwide Fund Advisors now owns 152,750 shares of the real estate investment trust’s stock valued at $2,884,000 after purchasing an additional 77,266 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

In related news, insider Michael Joseph Cronin sold 2,500 shares of Preferred Apartment Communities stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the sale, the insider now owns 16,460 shares of the company’s stock, valued at approximately $349,775. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 4,500 shares of company stock valued at $94,325. 3.11% of the stock is currently owned by insiders.

APTS has been the subject of several research analyst reports. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. National Securities raised their target price on Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, SunTrust Banks initiated coverage on Preferred Apartment Communities in a research report on Thursday, January 11th. They set a “hold” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Preferred Apartment Communities has a consensus rating of “Buy” and an average price target of $20.33.

Shares of Preferred Apartment Communities Inc. (APTS) opened at $14.42 on Tuesday. Preferred Apartment Communities Inc. has a 12-month low of $12.42 and a 12-month high of $22.71. The stock has a market capitalization of $556.28, a price-to-earnings ratio of 10.08, a PEG ratio of 1.42 and a beta of 0.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.93%. The ex-dividend date is Wednesday, March 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently -99.01%.

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

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