Apartment Investment and Management Company (NYSE:AIV) Receives “Hold” Rating from Robert W. Baird

Robert W. Baird reissued their hold rating on shares of Apartment Investment and Management Company (NYSE:AIV) in a research report sent to investors on Tuesday, October 17th. They currently have a $46.00 price target on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of Apartment Investment and Management from a hold rating to a buy rating in a research note on Friday, August 11th. Mizuho cut shares of Apartment Investment and Management from a neutral rating to an underperform rating and dropped their price objective for the company from $45.00 to $42.00 in a research note on Monday, July 10th. Canaccord Genuity set a $50.00 price target on shares of Apartment Investment and Management and gave the company a hold rating in a research note on Wednesday, August 2nd. Barclays PLC decreased their price objective on shares of Apartment Investment and Management from $48.00 to $47.00 and set an overweight rating on the stock in a report on Tuesday, July 18th. Finally, UBS AG lowered shares of Apartment Investment and Management from a buy rating to a neutral rating and set a $48.00 target price on the stock. in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $47.40.

Apartment Investment and Management (NYSE AIV) traded up $0.65 during trading on Tuesday, hitting $44.87. The company had a trading volume of 898,444 shares, compared to its average volume of 866,948. Apartment Investment and Management has a 52 week low of $39.66 and a 52 week high of $46.85. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $6,943.57, a P/E ratio of 18.27, a P/E/G ratio of 3.01 and a beta of 0.47.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.51). Apartment Investment and Management had a net margin of 21.36% and a return on equity of 13.81%. The firm had revenue of $254.64 million for the quarter, compared to analysts’ expectations of $249.17 million. During the same quarter in the previous year, the business earned $0.54 EPS. research analysts predict that Apartment Investment and Management will post 2.44 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 17th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, November 16th. Apartment Investment and Management’s dividend payout ratio (DPR) is 109.92%.

In other news, EVP Keith M. Kimmel sold 10,000 shares of Apartment Investment and Management stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the sale, the executive vice president now directly owns 28,481 shares in the company, valued at $1,310,126. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Terry Considine sold 111,577 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $44.01, for a total transaction of $4,910,503.77. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Apartment Investment and Management by 86.0% in the second quarter. Renaissance Technologies LLC now owns 4,072,785 shares of the real estate investment trust’s stock valued at $175,008,000 after acquiring an additional 1,883,585 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Apartment Investment and Management during the second quarter valued at $37,412,000. Principal Financial Group Inc. increased its stake in Apartment Investment and Management by 10.4% during the second quarter. Principal Financial Group Inc. now owns 7,481,959 shares of the real estate investment trust’s stock valued at $321,500,000 after purchasing an additional 701,904 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of Apartment Investment and Management by 63.3% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,665,067 shares of the real estate investment trust’s stock worth $71,548,000 after acquiring an additional 645,150 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Apartment Investment and Management during the second quarter worth about $23,487,000. 98.78% of the stock is currently owned by institutional investors and hedge funds.

Apartment Investment and Management Company Profile

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

Analyst Recommendations for Apartment Investment and Management (NYSE:AIV)

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