SunTrust Banks upgraded shares of Apartment Investment and Management (NYSE:AIV) from a hold rating to a buy rating in a research note issued to investors on Monday, January 22nd, MarketBeat reports. They currently have $46.00 target price on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Apartment Investment and Management’s FY2022 earnings at $3.05 EPS.
Several other brokerages have also issued reports on AIV. Zacks Investment Research upgraded Apartment Investment and Management from a sell rating to a hold rating in a research report on Monday, October 23rd. Mizuho upgraded Apartment Investment and Management from an underperform rating to a neutral rating and set a $47.00 price target for the company in a report on Monday, November 6th. Raymond James Financial lowered Apartment Investment and Management from a strong-buy rating to an outperform rating and lowered their price target for the company from $52.00 to $50.00 in a report on Tuesday, December 12th. BMO Capital Markets reiterated a sell rating on shares of Apartment Investment and Management in a report on Friday, October 27th. Finally, Robert W. Baird reissued a hold rating and issued a $42.00 price objective on shares of Apartment Investment and Management in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $46.64.
Shares of Apartment Investment and Management (AIV) opened at $38.70 on Monday. Apartment Investment and Management has a twelve month low of $38.19 and a twelve month high of $46.85. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.65 and a quick ratio of 0.59. The stock has a market capitalization of $6,070.00, a PE ratio of 774.00, a PEG ratio of 2.30 and a beta of 0.41.
Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Apartment Investment and Management had a return on equity of 21.25% and a net margin of 31.19%. The company had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $243.24 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts anticipate that Apartment Investment and Management will post 2.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.38 per share. This is a positive change from Apartment Investment and Management’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, February 15th. Apartment Investment and Management’s dividend payout ratio is presently 2,880.00%.
In other Apartment Investment and Management news, insider John E. Bezzant sold 7,564 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $44.77, for a total value of $338,640.28. Following the completion of the sale, the insider now owns 48,422 shares in the company, valued at approximately $2,167,852.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lisa R. Cohn sold 9,694 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $39.00, for a total transaction of $378,066.00. Following the completion of the sale, the insider now owns 82,139 shares of the company’s stock, valued at approximately $3,203,421. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,534 shares of company stock worth $979,784. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AIV. Schroder Investment Management Group acquired a new stake in shares of Apartment Investment and Management during the 2nd quarter worth approximately $124,000. Vident Investment Advisory LLC purchased a new position in shares of Apartment Investment and Management during the 3rd quarter worth approximately $202,000. Zeke Capital Advisors LLC purchased a new position in shares of Apartment Investment and Management during the 4th quarter worth approximately $210,000. Shelton Capital Management purchased a new position in shares of Apartment Investment and Management during the 2nd quarter worth approximately $246,000. Finally, CAPROCK Group Inc. purchased a new position in shares of Apartment Investment and Management during the 3rd quarter worth approximately $251,000. Institutional investors and hedge funds own 99.74% of the company’s stock.
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About Apartment Investment and Management
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.
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