Apartment Investment and Management (NYSE:AIV) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.60-0.64 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63. Apartment Investment and Management also updated its FY 2019 guidance to $2.15-2.23 EPS.
Apartment Investment and Management stock traded up $0.67 during mid-day trading on Friday, hitting $50.23. 2,100,040 shares of the company’s stock were exchanged, compared to its average volume of 980,770. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 3.73 and a beta of 0.57. Apartment Investment and Management has a fifty-two week low of $41.28 and a fifty-two week high of $52.49. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.14. The company has a 50 day moving average price of $50.71.
Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a return on equity of 49.58% and a net margin of 98.61%. The business had revenue of $224.20 million for the quarter, compared to analyst estimates of $224.36 million. During the same period in the previous year, the business posted $0.59 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Apartment Investment and Management will post 2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, August 15th. Apartment Investment and Management’s dividend payout ratio is 61.18%.
AIV has been the topic of several recent research reports. Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating in a research note on Tuesday, April 16th. Barclays reissued a hold rating and issued a $51.00 price target on shares of Apartment Investment and Management in a research note on Tuesday, April 16th. Finally, ValuEngine downgraded Apartment Investment and Management from a buy rating to a hold rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $49.43.
In other news, insider Miles Cortez sold 6,205 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total value of $312,111.50. Following the completion of the transaction, the insider now owns 101,876 shares in the company, valued at approximately $5,124,362.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.
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 132 communities in 17 states and the District of Columbia.
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