Legal & General Group Plc Has $97,000 Position in Preferred Apartment Communities Inc. (APTS)

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Legal & General Group Plc lifted its position in Preferred Apartment Communities Inc. (NYSE:APTS) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,873 shares of the real estate investment trust’s stock after acquiring an additional 721 shares during the quarter. Legal & General Group Plc’s holdings in Preferred Apartment Communities were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MetLife Investment Advisors LLC lifted its stake in shares of Preferred Apartment Communities by 48.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 27,985 shares of the real estate investment trust’s stock valued at $492,000 after purchasing an additional 9,146 shares during the period. Clarus Wealth Advisors lifted its stake in shares of Preferred Apartment Communities by 5.8% in the 4th quarter. Clarus Wealth Advisors now owns 46,443 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 2,535 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Preferred Apartment Communities by 5.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 380,678 shares of the real estate investment trust’s stock valued at $6,692,000 after purchasing an additional 19,077 shares during the period. Optimum Investment Advisors lifted its stake in shares of Preferred Apartment Communities by 100.0% in the 4th quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Finally, JOYN Advisors Inc. lifted its stake in shares of Preferred Apartment Communities by 23.3% in the 4th quarter. JOYN Advisors Inc. now owns 7,854 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 1,482 shares during the period. Hedge funds and other institutional investors own 59.89% of the company’s stock.

Several equities analysts recently issued reports on APTS shares. 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. Boenning Scattergood reiterated a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Preferred Apartment Communities currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Shares of NYSE APTS opened at $15.74 on Friday. The firm has a market capitalization of $683.48 million, a P/E ratio of 11.16, a P/E/G ratio of 1.53 and a beta of 0.52. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.04. Preferred Apartment Communities Inc. has a one year low of $13.14 and a one year high of $18.60.

Preferred Apartment Communities (NYSE:APTS) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.99). The company had revenue of $111.50 million during the quarter, compared to analysts’ expectations of $112.81 million. Preferred Apartment Communities had a return on equity of 1.77% and a net margin of 6.41%. Preferred Apartment Communities’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Equities research analysts expect that Preferred Apartment Communities Inc. will post 1.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 6.61%. The ex-dividend date was Thursday, March 14th. Preferred Apartment Communities’s payout ratio is presently 73.76%.

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About Preferred Apartment Communities

Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.

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Want to see what other hedge funds are holding APTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Preferred Apartment Communities Inc. (NYSE:APTS).

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

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