Apartment Investment and Management Co. (AIV) Trading Up 2%
Shares of Apartment Investment and Management Co. (NYSE:AIV) were up 2% during mid-day trading on Thursday . The company 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.
A number of analysts recently issued reports on AIV shares. Canaccord Genuity lifted their target price on Apartment Investment and Management from $39.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, May 2nd. Royal Bank Of Canada lifted their price target on 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. Zacks Investment Research upgraded Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Robert W. Baird reiterated a “hold” rating on shares of Apartment Investment and Management in a report on Sunday, May 8th. Finally, SunTrust Banks Inc. cut Apartment Investment and Management from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $42.00 to $44.00 in a report on Thursday, June 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Apartment Investment and Management presently has a consensus rating of “Hold” and a consensus price target of $44.91.
The firm has a market capitalization of $6.94 billion and a P/E ratio of 20.91. The firm’s 50 day moving average price is $45.02 and its 200-day moving average price is $41.71.
Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ 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. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Analysts predict that Apartment Investment and Management Co. will post $2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Friday, August 19th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%.
In other Apartment Investment and Management news, EVP Patti K. Fielding sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $899,689. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Terry Considine sold 176,000 shares of the stock in a transaction dated 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 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 disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
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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