Apartment Investment and Management Earns “Neutral” Rating from Zacks (AIV)
Apartment Investment and Management (NYSE:AIV)‘s stock had its “neutral” rating reissued by Zacks in a research report issued on Wednesday. They currently have a $36.00 target price on the stock. Zacks‘s price target suggests a potential upside of 3.66% from the stock’s previous close.
Zacks’ analyst wrote, “Apartment Investment & Management Co. – better known as Aimco reported higher-than-expected results in second-quarter 2014, thanks to improved property operating performance, lower offsite costs and contribution from redevelopment communities. The company experienced rent escalations across its key markets, which is encouraging. Moreover, the increase in the lower end of its 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 these assets disposition. Moreover, upfront increase in estimated cost and decreased NOI assumptions from its pipeline projects can weigh upon its earnings. Hence, we reaffirm our Neutral stance on the stock.”
In other Apartment Investment and Management news, EVP Miles Cortez sold 7,028 shares of Apartment Investment and Management stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $34.25, for a total value of $240,709.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. 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 given a buy rating to the stock. Apartment Investment and Management has an average rating of “Hold” and an average price target of $33.40.
Apartment Investment and Management (NYSE:AIV) traded up 0.61% on Wednesday, hitting $34.73. 965,008 shares of the company’s stock traded hands. Apartment Investment and Management has a 52-week low of $24.78 and a 52-week high of $34.77. The stock’s 50-day moving average is $33.82 and its 200-day moving average is $31.69. The company has a market cap of $5.077 billion and a price-to-earnings ratio of 15.32.
Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Apartment Investment and Management will post $2.09 EPS for the current fiscal year.
Apartment Investment and Management Company (NYSE:AIV) is a self-administered and self-managed real estate investment trust (REIT).
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