Preferred Apartment Communities (APTS) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $13.50 . FBR Capital advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on Preferred Apartment Communities. 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 .Company shares were Reiterated by Wunderlich on Mar 9, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $12 .
Preferred Apartment Communities opened for trading at $13.01 and hit $13.812 on the upside on Friday, eventually ending the session at $13.64, with a gain of 5.17% or 0.67 points. The heightened volatility saw the trading volume jump to 3,71,942 shares. Company has a market cap of $314 M.
In a different news, on Nov 30, 2015, Steve Bartkowski (director) purchased 4,500 shares at $10.91 per share price. According to the SEC, on Sep 4, 2015, John A Williams (CEO) purchased 2,400 shares at $10.31 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.