Schnieders Capital Management buys $2.1 Million stake in Preferred Apartment Communities (APTS)

Preferred Apartment Communities (APTS) : Schnieders Capital Management scooped up 7,550 additional shares in Preferred Apartment Communities during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 156,610 shares of Preferred Apartment Communities which is valued at $2.1 Million.Preferred Apartment Communities makes up approximately 1.26% of Schnieders Capital Management’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in APTS in the latest quarter, The investment management firm added 47,812 additional shares and now holds a total of 941,772 shares of Preferred Apartment Communities which is valued at $12.8 Million. Sg Americas Securities added APTS to its portfolio by purchasing 7,994 company shares during the most recent quarter which is valued at $108,479.Nine Chapters Capital Management boosted its stake in APTS in the latest quarter, The investment management firm added 7,900 additional shares and now holds a total of 24,400 shares of Preferred Apartment Communities which is valued at $331,108. Preferred Apartment Communities makes up approx 0.03% of Nine Chapters Capital Management’s portfolio.

Preferred Apartment Communities opened for trading at $13.5 and hit $13.67 on the upside on Wednesday, eventually ending the session at $13.67, with a gain of 1.48% or 0.2 points. The heightened volatility saw the trading volume jump to 1,11,777 shares. Company has a market cap of $317 M.

Investors should note that on May 5, 2016, Preferred Apartment Communities announced a cash dividend of $0.2025. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Preferred Apartment Communities. Company shares were Reiterated by Canaccord Genuity on May 16, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .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 .

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.

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