Apartment Investment and Management Co (AIV) Expected to Announce Quarterly Sales of $244.59 Million

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Equities analysts expect that Apartment Investment and Management Co (NYSE:AIV) will report sales of $244.59 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Apartment Investment and Management’s earnings, with estimates ranging from $234.19 million to $253.47 million. Apartment Investment and Management posted sales of $254.64 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The company is expected to announce its next earnings report after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Apartment Investment and Management will report full-year sales of $980.95 million for the current fiscal year, with estimates ranging from $952.53 million to $1.00 billion. For the next year, analysts expect that the business will report sales of $987.72 million, with estimates ranging from $917.34 million to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.60). Apartment Investment and Management had a net margin of 36.78% and a return on equity of 25.11%. The business had revenue of $250.13 million during the quarter, compared to analysts’ expectations of $242.93 million. During the same period in the previous year, the business posted $0.61 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Several research firms have recently commented on AIV. Zacks Investment Research lowered shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Monday, June 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $44.00 target price on shares of Apartment Investment and Management in a report on Thursday, July 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $45.00 target price on shares of Apartment Investment and Management in a report on Wednesday, June 27th. Bank of America raised their target price on shares of Apartment Investment and Management from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, June 8th. Finally, Jefferies Financial Group assumed coverage on shares of Apartment Investment and Management in a report on Monday, June 11th. They issued a “hold” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.75.

Shares of NYSE AIV traded up $0.72 during midday trading on Friday, hitting $44.13. The company’s stock had a trading volume of 1,267,700 shares, compared to its average volume of 997,814. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.59 and a current ratio of 0.59. Apartment Investment and Management has a 1 year low of $37.97 and a 1 year high of $45.64. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 3.72 and a beta of 0.41.

The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.52 annualized dividend and a yield of 3.44%. Apartment Investment and Management’s dividend payout ratio (DPR) is 62.04%.

In related news, insider Keith M. Kimmel sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $43.21, for a total value of $1,080,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Schroder Investment Management Group raised its holdings in Apartment Investment and Management by 84.3% during the second quarter. Schroder Investment Management Group now owns 618,233 shares of the real estate investment trust’s stock worth $26,065,000 after purchasing an additional 282,774 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Apartment Investment and Management by 114.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,122 shares of the real estate investment trust’s stock valued at $174,000 after acquiring an additional 2,200 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Apartment Investment and Management in the 2nd quarter valued at $275,000. WINTON GROUP Ltd acquired a new position in shares of Apartment Investment and Management in the 2nd quarter valued at $6,034,000. Finally, Verition Fund Management LLC acquired a new position in shares of Apartment Investment and Management in the 2nd quarter valued at $905,000. 98.80% of the stock is currently owned by hedge funds and other 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 133 communities in 17 states and the District of Columbia.

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Earnings History and Estimates for Apartment Investment and Management (NYSE:AIV)

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