Apartment Investment & Management Co. Given “Neutral” Rating at Zacks (AIV)
Apartment Investment & Management Co. (NYSE:AIV)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday. They currently have a $33.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 4.90% from the stock’s previous close.
Zacks’ analyst wrote, “Apartment Investment & Management Co. – better known as Aimco reported higher-than-expected results in first-quarter 2014, thanks to improved property operating performance, lower offsite costs and interest expense. The company experienced rent escalations across its key markets, which is encouraging. However, high casualty losses tied to cold winters, low interest income and assets divestiture partly dampened the results. Nevertheless, the increase in full-year outlook boosts investors’ confidence while its portfolio enhancement activity through continued redevelopments of core assets and disposal of non-core ones, continue to strengthen its position in markets with high-growth potential. Yet, we expect an adverse impact on earnings in the short term from asset dispositions. Moreover, upfront increase in estimated cost and decreased NOI assumptions from them can weigh upon the 2014 earnings. “
Apartment Investment & Management Co. (NYSE:AIV) traded down 0.06% during mid-day trading on Monday, hitting $31.46. 620,616 shares of the company’s stock traded hands. Apartment Investment & Management Co. has a 1-year low of $24.78 and a 1-year high of $32.18. The stock’s 50-day moving average is $30.89 and its 200-day moving average is $28.69. The company has a market cap of $4.596 billion and a price-to-earnings ratio of 17.41.
Apartment Investment & Management Co. (NYSE:AIV) last released its earnings data on Thursday, May 1st. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.01. During the same quarter last year, the company posted $0.48 earnings per share. Analysts expect that Apartment Investment & Management Co. will post $2.07 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AIV. Analysts at Imperial Capital raised their price target on shares of Apartment Investment & Management Co. from $32.00 to $34.00 in a research note on Tuesday, May 6th. They now have an “outperform” rating on the stock. Analysts at Barclays upgraded shares of Apartment Investment & Management Co. from an “underweight” rating to an “equal weight” rating in a research note on Monday, April 21st. They now have a $31.00 price target on the stock, up previously from $29.00. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.60.
Apartment Investment and Management Company (NYSE:AIV) is a self-administered and self-managed real estate investment trust (REIT).
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