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Colliers Securities Sticks to Its Buy Rating for Preferred Apartment Communities (APTS)

In a report released today, Barry Oxford from Colliers Securities reiterated a Buy rating on Preferred Apartment Communities (APTSResearch Report), with a price target of $24.00. The company’s shares closed last Thursday at $21.30.

According to TipRanks.com, Oxford is a 4-star analyst with an average return of 15.8% and a 84.4% success rate. Oxford covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Presidio Property Trust, and Gladstone Commercial.

Currently, the analyst consensus on Preferred Apartment Communities is a Moderate Buy with an average price target of $19.33.

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Based on Preferred Apartment Communities’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $111 million and net profit of $9.98 million. In comparison, last year the company earned revenue of $126 million and had a GAAP net loss of $3.49 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APTS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Preferred Apartment Communities, Inc. engages in the acquisition and operation of multifamily properties in select targeted markets throughout the United States. It operates through the following segments: Multifamily Communities; Student Housing Properties; Financing; New Market Properties; Preferred Office Properties; and Others. The Multifamily Communities segment consists company’s portfolio of owned residential multifamily communities. The Student Housing Properties segment comprises company’s portfolio of owned student housing properties. The Financing segment refers to the portfolio of real estate loans, bridge loans, and other instruments deployed by the company to partially finance the development, construction, and prestabilization carrying costs of new multifamily communities and other real estate and real estate related assets. The New Market Properties segment covers portfolio of grocery-anchored shopping centers, as well as the financial results from the retail real estate loans. The Preferred Office Properties segment relates to the portfolio of office buildings. The Other segment include deferred offering costs. The company was founded by Leonard A. Silverstein and John A. Williams on September 18, 2009 and is headquartered in Atlanta, GA.

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