Brokerages Expect Apartment Investment and Management Co (AIV) Will Announce Quarterly Sales of $244.59 Million

Wall Street brokerages expect Apartment Investment and Management Co (NYSE:AIV) to report $244.59 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Apartment Investment and Management’s earnings. The lowest sales estimate is $234.19 million and the highest is $253.47 million. Apartment Investment and Management reported sales of $254.64 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.9%. The business is scheduled to report its next earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Apartment Investment and Management will report full-year sales of $980.95 million for the current year, with estimates ranging from $952.53 million to $1.00 billion. For the next year, analysts forecast that the firm will post sales of $987.72 million, with estimates ranging from $917.34 million to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.60). Apartment Investment and Management had a net margin of 36.78% and a return on equity of 25.11%. The business had revenue of $250.13 million during the quarter, compared to analyst estimates of $242.93 million. During the same quarter last year, the company posted $0.61 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year.

Several equities analysts have issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $44.00 price target on shares of Apartment Investment and Management in a research report on Thursday, July 5th. Zacks Investment Research cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Apartment Investment and Management in a research note on Wednesday, June 27th. Jefferies Financial Group upped their price objective on shares of Apartment Investment and Management from $42.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Finally, Mizuho reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Apartment Investment and Management in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Apartment Investment and Management presently has an average rating of “Hold” and an average target price of $45.75.

NYSE AIV traded down $0.28 on Wednesday, hitting $41.85. The company’s stock had a trading volume of 1,749,636 shares, compared to its average volume of 1,016,242. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.59 and a current ratio of 0.59. Apartment Investment and Management has a 1-year low of $37.97 and a 1-year high of $45.64. The stock has a market cap of $6.94 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 3.79 and a beta of 0.42.

In other news, insider Keith M. Kimmel sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $43.21, for a total value of $1,080,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in Apartment Investment and Management by 85,310.4% during the second quarter. Advisors Asset Management Inc. now owns 1,641,587 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 1,639,665 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Apartment Investment and Management by 9,850.5% during the first quarter. Allianz Asset Management GmbH now owns 605,291 shares of the real estate investment trust’s stock worth $24,665,000 after acquiring an additional 599,208 shares in the last quarter. V3 Capital Management L.P. bought a new position in Apartment Investment and Management during the first quarter worth $16,919,000. Hexavest Inc. boosted its stake in Apartment Investment and Management by 49.3% during the third quarter. Hexavest Inc. now owns 1,109,413 shares of the real estate investment trust’s stock worth $48,958,000 after acquiring an additional 366,288 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Apartment Investment and Management by 12,397.7% during the second quarter. Victory Capital Management Inc. now owns 303,568 shares of the real estate investment trust’s stock worth $12,841,000 after acquiring an additional 301,139 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Apartment Investment and Management Company Profile

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with ownership interests in 133 communities in 17 states and the District of Columbia.

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Earnings History and Estimates for Apartment Investment and Management (NYSE:AIV)

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