Insider Selling: Ernest Michael Freedman Unloads 8,830 Shares of Apartment Investment and Management Stock (AIV)
Apartment Investment and Management (NYSE:AIV) CFO Ernest Michael Freedman sold 8,830 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $33.69, for a total value of $297,482.70. Following the transaction, the chief financial officer now directly owns 106,130 shares in the company, valued at approximately $3,575,520. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Apartment Investment and Management (NYSE:AIV) traded down 1.12% on Tuesday, hitting $33.58. 1,040,551 shares of the company’s stock traded hands. Apartment Investment and Management has a 1-year low of $24.78 and a 1-year high of $34.48. The stock has a 50-day moving average of $33.05 and a 200-day moving average of $30.91. The company has a market cap of $4.891 billion and a P/E ratio of 15.09.
Apartment Investment and Management (NYSE:AIV) last released its earnings data on Thursday, July 31st. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $246.40 million for the quarter, compared to the consensus estimate of $237.98 million. During the same quarter last year, the company posted $0.49 earnings per share. Apartment Investment and Management’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Apartment Investment and Management will post $2.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 3.10%. The ex-dividend date is Wednesday, August 13th.
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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.80.
Apartment Investment and Management Company (NYSE:AIV) is a self-administered and self-managed real estate investment trust (REIT).
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