Preferred Apartment Communities (APTS) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $14 . Canaccord Genuity advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on Preferred Apartment Communities. Company shares were Reiterated by FBR Capital on May 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 16 from a previous price target of $13.50 .Company shares were Upgraded by Compass Point on May 4, 2016 to ” Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .Shares were Downgraded by Compass Point on Mar 9, 2016 to ” Neutral” and Lowered the Price Target to $ 12 from a previous price target of $12.50 .
Preferred Apartment Communities closed down -0.03 points or -0.22% at $13.57 with 1,75,716 shares getting traded on Friday. Post opening the session at $13.55, the shares hit an intraday low of $13.28 and an intraday high of $13.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 13, 2016, John A Williams (CEO) purchased 1,500 shares at $13.78 per share price. According to the SEC, on Nov 30, 2015, Steve Bartkowski (director) purchased 4,500 shares at $10.91 per share price. On Sep 3, 2015, Leonard A Silverstein (director officer ) purchased 1,000 shares at $10.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Preferred Apartment Communities Inc. is formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. The Company has three operational segments: multifamily communities retail and real estate related financing. Multifamily Communities segment consists of approximately 10 owned residential multifamily communities. Retail segment consists of approximately 10 owned grocery-anchored necessity retail shopping centers. Financing segment consists of its portfolio of mezzanine loans bridge loans and other financial instruments which partially finance the development construction and prestabilization carrying costs of new multifamily communities and other real estate and real estate related assets.