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Apartment Investment and Management (NYSE:AIV) shares reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company, Analyst RN reports. The company traded as high as $34.25 and last traded at $34.20, with a volume of 335,825 shares trading hands. The stock had previously closed at $33.89.

The newly announced dividend is scheduled for Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.03%.

A number of research firms have recently commented on AIV. Analysts at Mizuho initiated coverage on shares of Apartment Investment and Management in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Apartment Investment and Management from $32.00 to $34.00 in a research note on Monday, July 21st. They now have an “equal weight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Apartment Investment and Management in a research note on Friday, June 20th. They now have a $32.00 price target on the stock, up previously from $31.00. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Apartment Investment and Management has an average rating of “Hold” and a consensus price target of $32.80.

The stock’s 50-day moving average is $32.78 and its 200-day moving average is $30.6. The company has a market cap of $5.014 billion and a P/E ratio of 18.74.

Apartment Investment and Management Company (NYSE:AIV) is a self-administered and self-managed real estate investment trust (REIT).

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