Stock Alert: Preferred Apartment Communities Stock Extending Losses

(RTTNews) - Shares of Preferred Apartment Communities, Inc. (APTS) are declining 0.8 percent in morning trade on Thursday, trading at $12.35.

On Wednesday, the stock had declined $0.46 or 3.56 percent to close the trading at $12.45. The stock has been trading in a range of $12.41 to $16.93 in the past 52 weeks.

Wednesday, PAC announced its acquisition of Wakefield Crossing, a grocery-anchored shopping center in Raleigh, North Carolina. The financial terms of the deal were not disclosed.

The 75,927 square foot shopping center is anchored by Raleigh-based grocery store company Food Lion. Wakefield Crossing Shopping Center is PAC's third shopping center in the Raleigh Metropolitan Statistical Area. PAC now owns 53 grocery-anchored centers.