Apartment Investment and Management Company (AIV) Upgraded to Neutral at Mizuho

Mizuho upgraded shares of Apartment Investment and Management Company (NYSE:AIV) from an underperform rating to a neutral rating in a research note released on Monday, November 6th, MarketBeat reports. They currently have $47.00 price target on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on AIV. BidaskClub upgraded shares of Apartment Investment and Management from a hold rating to a buy rating in a research report on Friday, August 11th. Canaccord Genuity set a $50.00 target price on shares of Apartment Investment and Management and gave the company a hold rating in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a sell rating on shares of Apartment Investment and Management in a research report on Friday, October 27th. Barclays PLC dropped their target price on shares of Apartment Investment and Management from $48.00 to $47.00 and set an overweight rating on the stock in a research report on Tuesday, July 18th. Finally, JMP Securities upgraded shares of Apartment Investment and Management from a market perform rating to an outperform rating and set a $52.00 price target for the company in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $47.67.

Shares of Apartment Investment and Management (AIV) opened at $44.19 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.35. Apartment Investment and Management has a 1 year low of $39.66 and a 1 year high of $46.85. The company has a market cap of $6,938.85, a P/E ratio of 18.26, a P/E/G ratio of 2.66 and a beta of 0.47.

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

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 17th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, November 16th. Apartment Investment and Management’s payout ratio is 109.92%.

In related news, CEO Terry Considine sold 111,577 shares of the company’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 value of $4,910,503.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keith M. Kimmel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the executive vice president now owns 28,481 shares in the company, valued at $1,310,126. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AIV. Renaissance Technologies LLC grew its holdings in shares of 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 worth $175,008,000 after purchasing an additional 1,883,585 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Apartment Investment and Management in the second quarter worth approximately $37,412,000. Principal Financial Group Inc. grew its holdings in shares of Apartment Investment and Management by 10.4% in the second quarter. Principal Financial Group Inc. now owns 7,481,959 shares of the real estate investment trust’s stock worth $321,500,000 after purchasing an additional 701,904 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Apartment Investment and Management by 63.3% in 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 purchasing 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 in the second quarter worth approximately $23,487,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

About Apartment Investment and Management

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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