Robert W. Baird reaffirmed their hold rating on shares of Apartment Investment and Management (NYSE:AIV) in a research note issued to investors on Tuesday, January 9th. They currently have a $42.00 price objective on the real estate investment trust’s stock.
A number of other brokerages also recently issued reports on AIV. Mizuho upgraded Apartment Investment and Management from an underperform rating to a neutral rating and set a $47.00 price objective for the company in a research note on Monday, November 6th. Zacks Investment Research downgraded Apartment Investment and Management from a hold rating to a sell rating in a research note on Monday, January 8th. TheStreet downgraded Apartment Investment and Management from a b- rating to a c+ rating in a research note on Friday, November 3rd. Raymond James Financial downgraded Apartment Investment and Management from a strong-buy rating to an outperform rating and dropped their price target for the stock from $52.00 to $50.00 in a research note on Tuesday, December 12th. Finally, BMO Capital Markets restated a sell rating and issued a $44.00 price target on shares of Apartment Investment and Management in a research note on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $47.70.
Shares of Apartment Investment and Management (NYSE:AIV) traded down $0.38 during trading hours on Tuesday, reaching $40.58. The company’s stock had a trading volume of 1,301,500 shares, compared to its average volume of 925,100. Apartment Investment and Management has a fifty-two week low of $40.38 and a fifty-two week high of $46.85. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.35. The stock has a market cap of $6,431.67, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46.
Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.51). The firm had revenue of $254.64 million for the quarter, compared to the consensus estimate of $249.17 million. Apartment Investment and Management had a net margin of 21.36% and a return on equity of 13.81%. During the same quarter in the prior year, the firm earned $0.54 earnings per share. sell-side analysts anticipate that Apartment Investment and Management will post 2.45 EPS for the current year.
In related news, CEO Terry Considine sold 111,577 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $44.01, for a total transaction of $4,910,503.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John E. Bezzant sold 7,564 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $44.77, for a total value of $338,640.28. Following the sale, the insider now owns 48,422 shares in the company, valued at approximately $2,167,852.94. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group bought a new position in Apartment Investment and Management in the 2nd quarter valued at $124,000. Vident Investment Advisory LLC bought a new position in Apartment Investment and Management in the 3rd quarter valued at $202,000. Raymond James Trust N.A. bought a new position in Apartment Investment and Management in the 2nd quarter valued at $217,000. Shelton Capital Management bought a new position in Apartment Investment and Management in the 2nd quarter valued at $246,000. Finally, CAPROCK Group Inc. bought a new position in shares of Apartment Investment and Management during the 3rd quarter worth $251,000.
About Apartment Investment and Management
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.
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