Apartment Investment and Management Co. (AIV) Trading 2% Higher
Apartment Investment and Management Co. (NYSE:AIV)’s share price traded up 2% during trading on Thursday . The stock traded as high as $45.25 and last traded at $44.86, with a volume of 750,849 shares changing hands. The stock had previously closed at $44.00.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Canaccord Genuity increased their target price on shares of Apartment Investment and Management from $41.00 to $47.00 and gave the company a “hold” rating in a report on Tuesday, August 2nd. Mizuho lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their target price for the company from $47.00 to $48.00 in a report on Monday, August 1st. Barclays PLC increased their target price on shares of Apartment Investment and Management from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, July 19th. Finally, Citigroup Inc. lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their target price for the company from $43.00 to $48.00 in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Apartment Investment and Management presently has a consensus rating of “Hold” and a consensus price target of $44.91.
The firm’s 50 day moving average price is $45.04 and its 200 day moving average price is $41.64. The company has a market cap of $7.03 billion and a PE ratio of 21.16.
Apartment Investment and Management (NYSE:AIV) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. During the same period last year, the firm posted $0.56 EPS. The company earned $242.87 million during the quarter, compared to analysts’ expectations of $240.17 million. Apartment Investment and Management’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Apartment Investment and Management Co. will post $2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Friday, August 19th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, August 17th.
In related news, Director Robert A. Miller sold 4,429 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $42.95, for a total transaction of $190,225.55. Following the sale, the director now owns 76,132 shares of the company’s stock, valued at $3,269,869.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Paul Beldin sold 4,218 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.67, for a total transaction of $192,636.06. Following the completion of the sale, the chief financial officer now directly owns 34,771 shares in the company, valued at approximately $1,587,991.57. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Apartment Investment and Management stock. KBC Group NV boosted its stake in shares of Apartment Investment and Management Co. (NYSE:AIV) by 50.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,266 shares of the real estate investment trust’s stock after buying an additional 27,010 shares during the period. KBC Group NV owned approximately 0.05% of Apartment Investment and Management worth $3,213,000 as of its most recent SEC filing.
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust. The Company, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. Its segments include conventional real estate and affordable real estate.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.