Brokerages Anticipate Apartment Investment and Management Co (NYSE:AIV) Will Announce Quarterly Sales of $228.64 Million

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Brokerages forecast that Apartment Investment and Management Co (NYSE:AIV) will report sales of $228.64 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Apartment Investment and Management’s earnings. The lowest sales estimate is $225.30 million and the highest is $230.87 million. Apartment Investment and Management reported sales of $232.02 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The firm is expected to issue its next quarterly earnings results on Monday, February 3rd.

According to Zacks, analysts expect that Apartment Investment and Management will report full year sales of $912.42 million for the current year, with estimates ranging from $909.50 million to $915.13 million. For the next financial year, analysts expect that the business will report sales of $935.02 million, with estimates ranging from $921.58 million to $944.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.62). Apartment Investment and Management had a net margin of 37.98% and a return on equity of 19.60%. The company had revenue of $229.80 million for the quarter, compared to the consensus estimate of $224.73 million. During the same quarter last year, the business posted $3.61 earnings per share. Apartment Investment and Management’s revenue was down 5.2% on a year-over-year basis.

Several equities analysts have weighed in on the company. TheStreet cut Apartment Investment and Management from a “b” rating to a “c+” rating in a research note on Thursday, October 31st. Mizuho upgraded Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, August 6th. SunTrust Banks raised their price objective on Apartment Investment and Management from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Friday. Barclays set a $53.00 price objective on Apartment Investment and Management and gave the company a “hold” rating in a research note on Friday, October 11th. Finally, Goldman Sachs Group started coverage on Apartment Investment and Management in a research note on Friday, November 8th. They set a “buy” rating and a $62.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Apartment Investment and Management presently has a consensus rating of “Hold” and a consensus price target of $55.83.

NYSE:AIV traded down $1.42 during trading hours on Wednesday, hitting $52.35. 811,012 shares of the company traded hands, compared to its average volume of 1,070,953. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 2.38. The firm’s 50-day simple moving average is $53.98 and its 200-day simple moving average is $51.65. Apartment Investment and Management has a one year low of $42.06 and a one year high of $55.49. The company has a market cap of $8.01 billion, a PE ratio of 20.53, a PEG ratio of 4.68 and a beta of 0.50.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Thursday, November 14th. Apartment Investment and Management’s payout ratio is 61.18%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TCG Advisors LP bought a new stake in shares of Apartment Investment and Management during the 2nd quarter worth $46,000. USA Financial Portformulas Corp raised its stake in shares of Apartment Investment and Management by 31.3% during the 2nd quarter. USA Financial Portformulas Corp now owns 1,103 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 263 shares during the period. Signaturefd LLC raised its stake in shares of Apartment Investment and Management by 52.5% during the 3rd quarter. Signaturefd LLC now owns 1,147 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 395 shares during the period. Optimum Investment Advisors raised its stake in shares of Apartment Investment and Management by 22.7% during the 3rd quarter. Optimum Investment Advisors now owns 2,699 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 500 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Apartment Investment and Management by 87,975.0% during the 2nd quarter. Assetmark Inc. now owns 3,523 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 3,519 shares during the period. Institutional investors own 99.02% of the company’s stock.

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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