Apartment Investment and Management Co. (AIV) Sees Unusually-High Trading Volume
Apartment Investment and Management Co. (NYSE:AIV) shares saw unusually-strong trading volume on Tuesday . Approximately 978,776 shares changed hands during trading, a decline of 10% from the previous session’s volume of 1,082,237 shares.The stock last traded at $44.76 and had previously closed at $45.15.
Several research analysts recently commented on AIV shares. Barclays PLC increased their target price on shares of Apartment Investment and Management from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, July 19th. Canaccord Genuity restated a “hold” rating on shares of Apartment Investment and Management in a report on Wednesday, June 29th. Zacks Investment Research cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Mizuho cut shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $48.00 in a report on Monday, August 1st. Finally, Royal Bank Of Canada increased their target price on shares of Apartment Investment and Management from $43.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $44.91.
The company has a market cap of $7.02 billion and a P/E ratio of 21.15. The firm’s 50-day moving average is $44.98 and its 200 day moving average is $41.92.
Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business earned $242.87 million during the quarter, compared to analyst estimates of $240.17 million. During the same period in the previous year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Apartment Investment and Management Co. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Friday, August 19th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, August 17th.
In related news, EVP Patti K. Fielding sold 10,000 shares of Apartment Investment and Management stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $43.00, for a total value of $430,000.00. Following the completion of the sale, the executive vice president now owns 20,923 shares of the company’s stock, valued at approximately $899,689. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Terry Considine sold 176,000 shares of Apartment Investment and Management stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $45.29, for a total transaction of $7,971,040.00. 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 raised its stake in shares of Apartment Investment and Management Co. (NYSE:AIV) by 50.7% during the fourth quarter, according to its most recent Form 13F 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 0.05% of Apartment Investment and Management worth $3,213,000 at the end of the most recent quarter.
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.
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