Shares of Preferred Apartment Communities Inc. (NYSE:APTS) traded today at $12.85, eclipsing its 52-week high. So far today approximately 64,000 shares have been exchanged, as compared to an average 30-day volume of 338,000 shares.
In the past 52 weeks, shares of Preferred Apartment Communities Inc. have traded between a low of $5.01 and a high of $12.85 and is now at $12.73, which is 154% above that low price.
Preferred Apartment Communities Inc is a real estate investment trust that acquires and operates multifamily properties in select targeted markets throughout the United States. It operates through the following segments: The Multifamily Communities segment being the highest revenue generating segment; Financing segment refers to the portfolio of real estate loans, bridge loans, other instruments, and other real estate related assets; New Market Properties segment covers a portfolio of grocery-anchored shopping centers, as well as the financial results from the retail real estate loans; and Preferred Office properties segment relates to the office buildings.
Potential upside of 143.0% exists for Preferred Apartment Communities Inc., based on a current level of $12.73 and analysts' average consensus price target of $30.93.
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