Could Preferred Apartment Communities, Inc. (APTS) Change Direction After This Wedge Up Chart Pattern

December 7, 2017 - By Peter Erickson

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.
Icm Asset Mngmt Wa holds 2% or 101,140 shares. Nationwide Fund Advsrs reported 75,484 shares or 0% of all its holdings. Renaissance Technology Ltd Llc invested in 65,800 shares. Orinda Asset Mngmt Ltd has 55,000 shares. Deutsche Bancorporation Ag invested in 0% or 45,784 shares. Crow Point Ltd Liability has invested 0.79% in Preferred Apartment Communities, Inc. (NYSE:APTS). Koshinski Asset Management Incorporated holds 34,280 shares or 0% of its portfolio. Barclays Public Limited Company holds 7,014 shares. State Of New Jersey Common Pension Fund D invested 0.02% of its portfolio in Preferred Apartment Communities, Inc. (NYSE:APTS). California Public Employees Retirement Systems holds 0% or 57,700 shares in its portfolio. Aperio Lc invested in 44,170 shares. Parametric Port Ltd Liability owns 130,467 shares. Nomura Asset Mngmt Limited reported 21,000 shares. Ameriprise owns 158,967 shares for 0% of their portfolio. Jacobs Levy Equity Management owns 56,814 shares or 0.02% of their US 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 earnings per share, 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 earnings per share 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 firm earned “Buy” rating on Thursday, August 10 by Canaccord Genuity. The firm earned “Buy” rating on Wednesday, May 4 by Compass Point. FBR Capital maintained it with “Outperform” rating and $16 target in Tuesday, May 10 report. Compass Point downgraded Preferred Apartment Communities, Inc. (NYSE:APTS) on Wednesday, March 9 to “Neutral” rating. The firm has “Buy” rating given on Monday, May 16 by Canaccord Genuity. Canaccord Genuity maintained the shares of APTS in report on Monday, July 31 with “Buy” rating. The firm has “Buy” rating given on Wednesday, March 9 by Wunderlich. FBR Capital maintained the shares of APTS in report on Tuesday, May 30 with “Hold” rating. Compass Point maintained Preferred Apartment Communities, Inc. (NYSE:APTS) rating on Thursday, November 5. Compass Point has “Buy” rating and $12.5 target. On Tuesday, September 1 the stock rating was initiated by FBR Capital with “Outperform”.

More notable recent Preferred Apartment Communities, Inc. (NYSE:APTS) news were published by: Nasdaq.com which released: “Preferred Apartment Communities, Inc. (APTS) Ex-Dividend Date Scheduled for …” on June 12, 2017, also Prnewswire.com with their article: “Preferred Apartment Communities, Inc. Announces Third Quarter 2017 Earnings …” published on October 05, 2017, Bizjournals.com published: “John Williams’ Preferred Apartment Communities expands Texas portfolio” on December 05, 2017. More interesting news about Preferred Apartment Communities, Inc. (NYSE:APTS) were released by: Prnewswire.com and their article: “Preferred Apartment Communities, Inc. Announces Investment in Fort Myers …” published on August 03, 2017 as well as Prnewswire.com‘s news article titled: “Preferred Apartment Communities, Inc. Announces Acquisition of a 280-Unit …” with publication date: July 26, 2017.

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