Preferred Apartment Communities Inc. (APTS) Upgraded by BidaskClub to "Strong-Buy"

(NYSE:MAA) in a research report released on Friday morning. Current price places the company's stock 2.68% away from its 200-day simple moving average, -0.09%, away from the 50-day average and also 1.83% away from 20-day average. Jefferies Group lowered Mid-America Apartment Communities from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $115.00 to $109.00 in a research note on Wednesday, August 10th. It opened the session with a $105.74 price tag, later ranging from $105.14 to $106.77, the range at which the stock has traded at throughout the day. SunTrust Banks Inc. raised Mid-America Apartment Communities from a "neutral" rating to a "buy" rating and set a $108.00 price objective for the company in a research note on Friday, August 19th. The analyst recommendations from a month ago are 2 Buy, 0 Overweight, 2 Sell, 16 Hold and 1 Underweight. The average twelve-month target price among brokers that have covered the stock in the past year is $105.46.

Investors are feeling more bearish on Mid-America Apartment Communities lately considering the motion in short interest. The stock stands almost -4.43% off versus the 52-week high and 21.05% away from the 52-week low. The stock has a market capitalization of $7.08 billion, a P/E ratio of 32.77 and a beta of 0.33.

Preferred Apartment Communities (NASDAQ:APTS) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.39 by $0.61. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%. The firm had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. During the same quarter a year ago, the company earned $1.47 EPS. The number of shares now owned by investors are 113.78 mln.

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The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. The ex-dividend date of this dividend was Wednesday, October 12th.

The dividend yield for the company is hovering around 3.30% while the pay out ratio is now at 162.60%. Preferred Apartment Communities's dividend payout ratio is now -94.00%. Shareholders of record on Friday, December 15th will be paid a dividend of $0.25 per share. The shares were bought at an average price of $100.11 per share, with a total value of $700,770.00. Institutional investors and hedge funds own 92.34% of the company's stock. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Oppenheimer & Co Inc now owns 42,432 shares valued at $4,536,000. Following the completion of the sale, the director now owns 77,180 shares of the company's stock, valued at $8,207,321.20.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 0.8% in the second quarter.

Over the past five trading sessions shares of USG Corporation (NYSE:USG) are 0.56%; 3.68% for the month; 28.98% for the last quarter; 14.01% for the past six-months; and 26.35% for the last 12 months. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust's stock worth $253,615,000 after purchasing an additional 1,144,768 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Preferred Apartment Communities in the third quarter valued at about $118,000. 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 during the last quarter. Legal & General Group Plc grew its holdings in Preferred Apartment Communities by 13.3% during the 2nd quarter. KCG Holdings Inc. now owns 3,215 shares of the real estate investment trust's stock worth $327,000 after purchasing an additional 72 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Preferred Apartment Communities by 338.2% in the second quarter. Advisor Group Inc. now owns 36,273 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 507 shares during the last quarter.

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States.

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