Preferred Apartment Communities (APTS) was Upgraded by Compass Point to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 14 from a previous price target of $12 . Earlier the firm had a rating of “Neutral ” on the company shares. Compass Point advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on Preferred Apartment Communities. 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 closed down -0.02 points or -0.16% at $12.32 with 96,791 shares getting traded on Monday. Post opening the session at $12.28, the shares hit an intraday low of $12.16 and an intraday high of $12.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.