Zelman & Associates Upgrades Apartment Investment and Management (NYSE:AIV) to Hold

Zelman & Associates upgraded shares of Apartment Investment and Management (NYSE:AIV) from a sell rating to a hold rating in a research report report published on Monday morning, The Fly reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets set a $55.00 target price on shares of Apartment Investment and Management and gave the stock a hold rating in a research report on Friday, August 2nd. ValuEngine lowered shares of Apartment Investment and Management from a buy rating to a hold rating in a research report on Thursday, August 1st. Mizuho raised Apartment Investment and Management from a neutral rating to a buy rating and set a $55.00 price target for the company in a report on Tuesday, August 6th. Barclays reaffirmed a hold rating and set a $51.00 price target on shares of Apartment Investment and Management in a report on Tuesday, April 16th. Finally, Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Apartment Investment and Management currently has a consensus rating of Hold and an average price target of $51.14.

Shares of AIV opened at $50.08 on Monday. The company has a current ratio of 0.22, a quick ratio of 0.68 and a debt-to-equity ratio of 2.17. The firm has a market cap of $7.50 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 4.49 and a beta of 0.57. The company’s 50 day simple moving average is $50.49 and its 200-day simple moving average is $50.13. Apartment Investment and Management has a 12-month low of $41.73 and a 12-month high of $52.49.

Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $224.20 million for the quarter, compared to analysts’ expectations of $224.36 million. Apartment Investment and Management had a return on equity of 49.61% and a net margin of 98.61%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. As a group, equities research analysts forecast that Apartment Investment and Management will post 2.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, August 15th. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 61.18%.

In other Apartment Investment and Management news, insider Miles Cortez sold 6,205 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 101,876 shares of the company’s stock, valued at $5,124,362.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.83% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. 6 Meridian lifted its holdings in Apartment Investment and Management by 2.1% in the second quarter. 6 Meridian now owns 10,213 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 214 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Apartment Investment and Management by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 8,452 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 252 shares in the last quarter. USA Financial Portformulas Corp increased its position in shares of Apartment Investment and Management by 31.3% in the second quarter. USA Financial Portformulas Corp now owns 1,103 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 263 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Apartment Investment and Management by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,552 shares of the real estate investment trust’s stock valued at $830,000 after buying an additional 297 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Apartment Investment and Management by 3.6% in the second quarter. M&T Bank Corp now owns 10,553 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 371 shares in the last quarter. 97.22% of the stock is owned by institutional investors.

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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