StockNews.com Lowers Preferred Apartment Communities (NYSE:APTS) to Sell

Preferred Apartment Communities (NYSE:APTS – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday, May 17th. Jonestrading downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Finally, Truist Financial increased their price objective on shares of Preferred Apartment Communities from $17.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, March 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.90.

APTS stock opened at $24.97 on Thursday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.03, a P/E/G ratio of 3.39 and a beta of 0.94. Preferred Apartment Communities has a 12 month low of $9.64 and a 12 month high of $25.80. The firm has a 50 day moving average of $24.90 and a two-hundred day moving average of $21.01.

Preferred Apartment Communities (NYSE:APTS – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The real estate investment trust reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.08). Preferred Apartment Communities had a return on equity of 1.33% and a net margin of 3.47%. As a group, sell-side analysts expect that Preferred Apartment Communities will post 1.05 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Walleye Capital LLC bought a new position in shares of Preferred Apartment Communities in the 1st quarter valued at about $2,274,000. Gabelli Funds LLC bought a new position in Preferred Apartment Communities during the 1st quarter worth approximately $3,914,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Preferred Apartment Communities during the 1st quarter worth approximately $2,876,000. Weiss Multi Strategy Advisers LLC bought a new position in Preferred Apartment Communities during the 1st quarter worth approximately $873,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Preferred Apartment Communities during the 1st quarter worth approximately $228,000. 51.96% of the stock is currently owned by institutional investors.

Preferred Apartment Communities Company Profile (Get Rating)

Preferred Apartment Communities, Inc (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers, Class A office buildings, and student housing properties. Preferred Apartment Communities' investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans for multifamily properties.

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