TheStreet upgraded shares of Apartment Investment and Management (NYSE:AIV) from a c+ rating to a b rating in a research report sent to investors on Thursday morning.
AIV has been the topic of several other reports. Scotiabank started coverage on Apartment Investment and Management in a research note on Tuesday, October 16th. They issued an underperform rating on the stock. Jefferies Financial Group lifted their target price on 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. Mizuho reiterated a hold rating and issued a $44.00 target price on shares of Apartment Investment and Management in a research note on Monday, August 6th. Zacks Investment Research upgraded Apartment Investment and Management from a sell rating to a hold rating in a research note on Tuesday, August 7th. Finally, BMO Capital Markets reiterated a hold rating and issued a $44.00 target price on shares of Apartment Investment and Management in a research note on Thursday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $45.75.
Shares of AIV stock traded up $0.52 during midday trading on Thursday, hitting $43.52. The company had a trading volume of 1,885,439 shares, compared to its average volume of 1,268,413. Apartment Investment and Management has a 52-week low of $37.97 and a 52-week high of $45.64. The company has a market capitalization of $6.85 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.73 and a beta of 0.44. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 2.93.
Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 earnings per share for the quarter, beating the consensus estimate of $0.61 by $3.00. Apartment Investment and Management had a return on equity of 60.09% and a net margin of 92.50%. The company had revenue of $242.48 million for the quarter, compared to the consensus estimate of $239.80 million. During the same period last year, the business posted $0.63 EPS. The company’s revenue was down 4.8% on a year-over-year basis. As a group, equities analysts predict that Apartment Investment and Management will post 2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 3.49%. Apartment Investment and Management’s dividend payout ratio is currently 62.04%.
In other news, insider Keith M. Kimmel sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $43.21, for a total value of $1,080,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Signition LP acquired a new stake in shares of Apartment Investment and Management in the 2nd quarter valued at approximately $563,000. Calamos Advisors LLC lifted its holdings in shares of Apartment Investment and Management by 22.6% in the 2nd quarter. Calamos Advisors LLC now owns 100,116 shares of the real estate investment trust’s stock valued at $4,235,000 after buying an additional 18,480 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Apartment Investment and Management in the 2nd quarter valued at approximately $1,654,000. Sei Investments Co. raised its holdings in Apartment Investment and Management by 12.3% during the second quarter. Sei Investments Co. now owns 453,700 shares of the real estate investment trust’s stock worth $19,191,000 after purchasing an additional 49,523 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. raised its holdings in Apartment Investment and Management by 104.8% during the second quarter. Shine Investment Advisory Services Inc. now owns 4,690 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 2,400 shares during the last quarter. 98.85% of the stock is owned by institutional investors and hedge funds.
About Apartment Investment and Management
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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