Apartment Investment and Management Co (NYSE:AIV) declared a quarterly dividend on Wednesday, October 31st, RTT News reports. Investors of record on Friday, November 16th will be given a dividend of 0.38 per share by the real estate investment trust on Friday, November 30th. This represents a $1.52 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, November 15th.
Apartment Investment and Management has raised its dividend payment by an average of 11.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Apartment Investment and Management has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apartment Investment and Management to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 60.1%.
NYSE AIV opened at $45.64 on Friday. The firm has a market cap of $7.06 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.89 and a beta of 0.44. The company has a current ratio of 0.43, a quick ratio of 0.59 and a debt-to-equity ratio of 1.76. Apartment Investment and Management has a fifty-two week low of $37.97 and a fifty-two week high of $45.78.
Apartment Investment and Management (NYSE:AIV) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $3.00. The company had revenue of $242.48 million for the quarter, compared to the consensus estimate of $239.80 million. Apartment Investment and Management had a return on equity of 55.25% and a net margin of 92.50%. Apartment Investment and Management’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts anticipate that Apartment Investment and Management will post 2.44 EPS for the current year.
AIV has been the topic of several research analyst reports. Mizuho restated a “hold” rating and issued a $44.00 price objective on shares of Apartment Investment and Management in a research report on Monday, August 6th. Zacks Investment Research upgraded Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Jefferies Financial Group boosted their price objective on Apartment Investment and Management from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. Scotiabank initiated coverage on Apartment Investment and Management in a research report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Finally, TheStreet upgraded Apartment Investment and Management from a “c+” rating to a “b” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Apartment Investment and Management currently has a consensus rating of “Hold” and a consensus target price of $45.75.
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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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