Apartment Investment and Management Co. (NYSE:AIV) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.26-2.34 for the period, compared to the Thomson Reuters consensus estimate of $2.31. Apartment Investment and Management also updated its Q3 guidance to $0.52-0.56 EPS.
Apartment Investment and Management Co. (NYSE:AIV) traded up 1.05% during trading on Thursday, hitting $44.26. 985,854 shares of the company were exchanged. Apartment Investment and Management Co. has a 12 month low of $34.71 and a 12 month high of $46.24. The company has a market capitalization of $6.93 billion and a price-to-earnings ratio of 40.57. The stock’s 50-day moving average is $43.49 and its 200-day moving average is $40.70.
Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. During the same period last year, the company posted $0.56 earnings per share. The firm had revenue of $242.87 million for the quarter, compared to analysts’ expectations of $240.17 million. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Apartment Investment and Management Co. will post $2.31 earnings per share for the current year.
In related news, EVP Lisa R. Cohn sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $43.17, for a total transaction of $518,040.00. Following the completion of the sale, the executive vice president now directly owns 66,619 shares in the company, valued at $2,875,942.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael A. Stein sold 17,184 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $42.44, for a total transaction of $729,288.96. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,485,400. The disclosure for this sale can be found here.
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.