Apartment Investment and Management Co. (NYSE:AIV) announced a quarterly dividend on Thursday, July 28th. Investors of record on Friday, August 19th will be given a dividend of 0.33 per share by the real estate investment trust on Wednesday, August 31st. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%.
In related news, EVP Patti K. Fielding sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $43.00, for a total transaction of $430,000.00. Following the completion of the transaction, the executive vice president now owns 20,923 shares in the company, valued at $899,689. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael A. Stein sold 17,184 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $42.44, for a total transaction of $729,288.96. Following the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,485,400. The disclosure for this sale can be found here.
Shares of Apartment Investment and Management (NYSE:AIV) traded up 1.05% during midday trading on Thursday, reaching $44.26. 994,414 shares of the company’s stock traded hands. The company has a market capitalization of $6.93 billion and a price-to-earnings ratio of 40.57. The company has a 50-day moving average of $43.49 and a 200-day moving average of $40.70. Apartment Investment and Management has a one year low of $34.71 and a one year high of $46.24.
A number of equities analysts have recently commented on AIV shares. Zacks Investment Research raised shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Monday, April 11th. Canaccord Genuity increased their price target on shares of Apartment Investment and Management from $39.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, May 2nd. Robert W. Baird reissued a “hold” rating on shares of Apartment Investment and Management in a report on Sunday, May 8th. SunTrust Banks Inc. lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased 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. Finally, Citigroup Inc. lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their price target for the stock from $43.00 to $48.00 in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.08.
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.
