Opus Capital Group LLC lowered its position in shares of Preferred Apartment Communities Inc. (NYSE:APTS) by 10.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 162,503 shares of the real estate investment trust’s stock after selling 19,550 shares during the period. Preferred Apartment Communities accounts for 0.7% of Opus Capital Group LLC’s investment portfolio, making the stock its 28th largest position. Opus Capital Group LLC’s holdings in Preferred Apartment Communities were worth $3,291,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. bought a new position in Preferred Apartment Communities during the third quarter valued at about $118,000. Legal & General Group Plc boosted its stake 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 valued at $113,000 after buying an additional 845 shares in the last quarter. Stifel Financial Corp bought a new position in Preferred Apartment Communities during the third quarter valued at about $202,000. Pitcairn Co. bought a new position in Preferred Apartment Communities during the third quarter valued at about $205,000. Finally, Schroder Investment Management Group boosted its stake in Preferred Apartment Communities by 59.4% during the third quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 4,217 shares in the last quarter. 49.03% of the stock is owned by institutional investors and hedge funds.
In related news, insider Michael Joseph Cronin sold 2,500 shares of the 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 directly owns 16,460 shares of the company’s stock, valued at approximately $349,775. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Dupree sold 17,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the completion of the sale, the insider now directly owns 99,564 shares of the company’s stock, valued at $2,098,809.12. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,850 shares of company stock valued at $39,349 and sold 21,500 shares valued at $452,685. 3.11% of the stock is currently owned by corporate insiders.
Shares of Preferred Apartment Communities Inc. (APTS) opened at $15.76 on Monday. The stock has a market capitalization of $607.97, a PE ratio of -15.60, a P/E/G ratio of 1.55 and a beta of 0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.07 and a quick ratio of 0.07. Preferred Apartment Communities Inc. has a one year low of $12.42 and a one year high of $22.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.35%. The ex-dividend date is Wednesday, March 14th. Preferred Apartment Communities’s dividend payout ratio is currently -99.01%.
Several research analysts recently weighed in 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 lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. B. Riley reiterated a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, November 2nd. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Finally, National Securities increased their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $20.33.
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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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