Could Preferred Apartment Communities, Inc. (APTS) See a Reversal After Having Formed Several Months Wedge Up Pattern

December 7, 2017 - By Adrian Mccoy

Investors sentiment increased to 2.59 in Q2 2017. Its up 0.85, from 1.74 in 2017Q1. It is positive, as 15 investors sold Preferred Apartment Communities, Inc. shares while 17 reduced holdings. 33 funds opened positions while 50 raised stakes. 15.13 million shares or 40.59% more from 10.76 million shares in 2017Q1 were reported.
Geode Cap Management Ltd Liability has 0% invested in Preferred Apartment Communities, Inc. (NYSE:APTS) for 239,530 shares. Icm Asset Management Wa has invested 2% of its portfolio in Preferred Apartment Communities, Inc. (NYSE:APTS). Guggenheim Capital Llc reported 0% stake. Alliancebernstein L P holds 0% or 135,830 shares in its portfolio. Sunbelt Securities Inc holds 0.85% in Preferred Apartment Communities, Inc. (NYSE:APTS) or 28,606 shares. Ny State Common Retirement Fund, New York-based fund reported 33,500 shares. Wellington Mngmt Gp Llp invested 0% in Preferred Apartment Communities, Inc. (NYSE:APTS). Adirondack Tru reported 1,040 shares or 0.01% of all its holdings. Daiwa Secs Incorporated reported 0% in Preferred Apartment Communities, Inc. (NYSE:APTS). Jacobs Levy Equity holds 56,814 shares. Asset Mgmt One Limited reported 63,271 shares. Creative Planning reported 1,019 shares. Lsv Asset Mgmt stated it has 0.02% of its portfolio in Preferred Apartment Communities, Inc. (NYSE:APTS). Blair William & Com Il, a Illinois-based fund reported 56,790 shares. Nuveen Asset Mgmt Ltd Co holds 39,153 shares or 0% of its portfolio.

The stock of Preferred Apartment Communities, Inc. (APTS) formed an up wedge with $22.26 target or 6.00 % above today’s $21.00 share price. The 6 months wedge indicates low risk for the $766.48M company. If the $22.26 price target is reached, the company will be worth $45.99M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.33% or $0.07 during the last trading session, reaching $21. About 415,291 shares traded. Preferred Apartment Communities, Inc. (NYSE:APTS) has risen 15.66% since December 8, 2016 and is uptrending. It has underperformed by 1.04% the S&P500.

Analysts await Preferred Apartment Communities, Inc. (NYSE:APTS) to report earnings on February, 26. They expect $0.34 EPS, up 6.25 % or $0.02 from last year’s $0.32 per share. APTS’s profit will be $12.41 million for 15.44 P/E if the $0.34 EPS becomes a reality. After $0.38 actual EPS reported by Preferred Apartment Communities, Inc. for the previous quarter, Wall Street now forecasts -10.53 % negative EPS growth.

Preferred Apartment Communities, Inc. (NYSE:APTS) Ratings Coverage

Among 5 analysts covering Preferred Apt. Communities (NYSE:APTS), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Preferred Apt. Communities had 18 analyst reports since July 23, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, January 4 by FBR Capital. The company was downgraded on Wednesday, March 9 by Compass Point. The stock of Preferred Apartment Communities, Inc. (NYSE:APTS) earned “Buy” rating by DA Davidson on Friday, September 18. The rating was initiated by JMP Securities on Tuesday, September 15 with “Market Outperform”. FBR Capital maintained Preferred Apartment Communities, Inc. (NYSE:APTS) rating on Tuesday, May 10. FBR Capital has “Outperform” rating and $16 target. FBR Capital initiated the stock with “Outperform” rating in Tuesday, September 1 report. Canaccord Genuity initiated the shares of APTS in report on Thursday, July 23 with “Buy” rating. The company was reinitiated on Tuesday, July 11 by FBR Capital. The firm has “Buy” rating given on Wednesday, March 9 by Wunderlich. Canaccord Genuity maintained the stock with “Buy” rating in Monday, May 16 report.

More notable recent Preferred Apartment Communities, Inc. (NYSE:APTS) news were published by: Bizjournals.com which released: “John Williams’ Preferred Apartment Communities expands Texas portfolio” on December 05, 2017, also Prnewswire.com with their article: “Preferred Apartment Communities, Inc. Announces Investment in Fort Myers …” published on August 03, 2017, Nasdaq.com published: “Preferred Apartment Communities, Inc. (APTS) Ex-Dividend Date Scheduled for …” on September 13, 2017. More interesting news about Preferred Apartment Communities, Inc. (NYSE:APTS) were released by: Seekingalpha.com and their article: “Preferred Apartment Communities’ (APTS) CEO John Williams on Q3 2017 Results …” published on November 01, 2017 as well as Reuters.com‘s news article titled: “BRIEF-Preferred Apartment Communities announces acquisition of Class A office …” with publication date: November 13, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.