Insider Selling: Apartment Investment and Management EVP Sells 7,028 Shares of Stock (AIV)
Apartment Investment and Management (NYSE:AIV) EVP Miles Cortez sold 7,028 shares of Apartment Investment and Management stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $34.25, for a total value of $240,709.00. Following the transaction, the executive vice president now directly owns 120,518 shares of the company’s stock, valued at approximately $4,127,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on AIV shares. 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Apartment Investment and Management presently has a consensus rating of “Hold” and an average price target of $32.75.
Apartment Investment and Management (NYSE:AIV) traded down 0.35% during mid-day trading on Friday, hitting $34.02. The stock had a trading volume of 502,422 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 $33.58 and its 200-day moving average is $31.41. The company has a market cap of $4.973 billion and a price-to-earnings ratio of 15.15.
Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results 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 $2.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which 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 3.06%. The ex-dividend date is Wednesday, August 13th.
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.