Preferred Apartment Communities Inc. (apts) Plans Dividend Increase – $0.20 Per Share

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Preferred Apartment Communities Inc. (NASDAQ:apts) declared a dividend on Friday, August 5th. Investors of record on Thursday, September 15th will be given a dividend of 0.203 per share on Friday, October 14th. The ex-dividend date of this dividend is Tuesday, September 13th. This is a boost from Preferred Apartment Communities’s previous dividend of $0.20.
Preferred Apartment Communities (NASDAQ:APTS) opened at 14.37 on Thursday. The company has a 50 day moving average price of $14.39 and a 200-day moving average price of $13.50. Preferred Apartment Communities has a one year low of $10.19 and a one year high of $15.39.
Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Equities research analysts forecast that Preferred Apartment Communities will post $1.28 EPS for the current year.

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A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Monday, August 29th. FBR & Co restated an “outperform” rating and issued a $17.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, August 11th. Wunderlich restated a “buy” rating and issued a $15.50 price objective (up from $14.00) on shares of Preferred Apartment Communities in a report on Thursday, August 4th. Compass Point restated a “buy” rating and issued a $16.50 price objective (up from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. Finally, Canaccord Genuity restated a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.50.
In other news, Director Steve Bartkowski sold 16,045 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $14.13, for a total value of $226,715.85. Following the sale, the director now directly owns 48,175 shares in the company, valued at approximately $680,712.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail, and real estate related financing.

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