Apartment Investment and Management Co. (NYSE:AIV)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $44.03, but opened at $44.17. Apartment Investment and Management shares last traded at $44.59, with a volume of 506,305 shares traded.

AIV has been the subject of several recent analyst reports. SunTrust Banks Inc. lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $42.00 to $44.00 in a research report on Thursday, June 2nd. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “hold” rating on shares of Apartment Investment and Management in a research report on Wednesday, June 29th. Citigroup Inc. lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $43.00 to $48.00 in a research report on Monday, July 18th. Barclays PLC lifted their price target on Apartment Investment and Management from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 19th. Finally, Mizuho lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $48.00 in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.44.

The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 21.05 and a beta of 0.69. The stock’s 50 day moving average price is $44.82 and its 200-day moving average price is $42.72.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/apartment-investment-and-management-co-aiv-shares-gap-up-to-44-17.html

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Apartment Investment and Management had a return on equity of 20.95% and a net margin of 34.56%. The business had revenue of $242.87 million for the quarter, compared to the consensus estimate of $240.17 million. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Analysts anticipate that Apartment Investment and Management Co. will post $2.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 19th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, August 17th. Apartment Investment and Management’s payout ratio is currently 62.56%.

In related news, insider Miles Cortez sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $45.25, for a total transaction of $316,750.00. Following the sale, the insider now owns 116,505 shares of the company’s stock, valued at $5,271,851.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul Beldin sold 4,218 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $45.67, for a total value of $192,636.06. Following the sale, the chief financial officer now directly owns 34,771 shares in the company, valued at approximately $1,587,991.57. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Prudential Financial Inc. increased its stake in shares of Apartment Investment and Management by 7.3% in the first quarter. Prudential Financial Inc. now owns 1,671,472 shares of the real estate investment trust’s stock worth $69,901,000 after buying an additional 113,952 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Apartment Investment and Management by 12.0% in the first quarter. Ngam Advisors L.P. now owns 17,489 shares of the real estate investment trust’s stock worth $731,000 after buying an additional 1,868 shares during the last quarter. Dynamic Advisors Solutions LLC bought a new stake in shares of Apartment Investment and Management during the first quarter worth $201,000. Virginia Retirement System bought a new stake in shares of Apartment Investment and Management during the first quarter worth $6,716,000. Finally, Nisa Investment Advisors L.L.C. increased its stake in shares of Apartment Investment and Management by 5.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 122,034 shares of the real estate investment trust’s stock worth $5,103,000 after buying an additional 6,500 shares during the last quarter.

Apartment Investment and Management Company Profile

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust. The Company, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. Its segments include conventional real estate and affordable real estate.

5 Day Chart for NYSE:AIV

Receive News & Ratings for Apartment Investment and Management Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Investment and Management Co. and related companies with MarketBeat.com's FREE daily email newsletter.