Insider Selling: Apartment Investment and Management Director Sells 20,000 Shares of Stock (AIV)
Apartment Investment and Management (NYSE:AIV) Director James N. Bailey sold 20,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $33.21, for a total value of $664,200.00. Following the completion of the transaction, the director now directly owns 32,587 shares of the company’s stock, valued at approximately $1,082,214. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Apartment Investment and Management (NYSE:AIV) traded up 1.36% on Wednesday, hitting $33.44. The stock had a trading volume of 1,780,662 shares. Apartment Investment and Management has a 52-week low of $24.78 and a 52-week high of $34.48. The stock’s 50-day moving average is $33.25 and its 200-day moving average is $31.10. The company has a market cap of $4.889 billion and a price-to-earnings ratio of 14.64.
Apartment Investment and Management (NYSE:AIV) last released its earnings data on Thursday, July 31st. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Apartment Investment and Management will post $2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, August 13th.
AIV has been the subject of a number of recent research reports. 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Apartment Investment and Management presently has an average rating of “Hold” and an average price target of $32.75.
Apartment Investment and Management Company (NYSE:AIV) is a self-administered and self-managed real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.