Apartment Investment and Management Company (NYSE:AIV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Shares of Aimco have outperformed its industry over the past three months. Moreover, the Zacks Consensus Estimate for funds from operation (FFO) per share for 2017 remained unchanged in a month’s time. Encouragingly, Aimco’s efforts to reposition its portfolio by shedding non-strategic properties and investing the proceeds in opportunistic acquisitions will likely drive long-term growth. Moreover, Aimco has a solid portfolio diversified both in terms of geography and price point. This is likely to help the company meet the rise in demand for apartment properties. However, stiff competition from new supply in various markets is anticipated to dampen Aimco’s rent growth and new lease pricing ability. Moreover, interest rate hike and dilutive effects of sale of assets remain concerns.”

A number of other brokerages have also issued reports on AIV. UBS AG lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Friday, September 8th. BidaskClub raised shares of Apartment Investment and Management from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Canaccord Genuity set a $50.00 target price on shares of Apartment Investment and Management and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 target price on shares of Apartment Investment and Management in a research note on Tuesday, September 12th. Finally, Barclays PLC lowered their target price on shares of Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Apartment Investment and Management currently has a consensus rating of “Hold” and a consensus target price of $46.90.

Shares of Apartment Investment and Management (AIV) traded up 0.02% during midday trading on Monday, reaching $44.08. 273,322 shares of the company were exchanged. The firm has a market capitalization of $6.92 billion, a P/E ratio of 34.71 and a beta of 0.46. The firm has a 50-day moving average of $44.84 and a 200 day moving average of $44.31. Apartment Investment and Management has a 52 week low of $39.66 and a 52 week high of $46.85.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Apartment Investment and Management had a net margin of 20.64% and a return on equity of 12.46%. The firm had revenue of $246.24 million during the quarter, compared to analyst estimates of $240.78 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Apartment Investment and Management’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Apartment Investment and Management will post $0.41 EPS for the current year.

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In other news, EVP Keith M. Kimmel sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the transaction, the executive vice president now owns 28,481 shares of the company’s stock, valued at $1,310,126. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AIV. Renaissance Technologies LLC boosted its stake in shares of Apartment Investment and Management by 86.0% in the second quarter. Renaissance Technologies LLC now owns 4,072,785 shares of the real estate investment trust’s stock valued at $175,008,000 after purchasing an additional 1,883,585 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Apartment Investment and Management in the second quarter valued at approximately $37,412,000. Principal Financial Group Inc. boosted its stake in shares of Apartment Investment and Management by 10.4% in the second quarter. Principal Financial Group Inc. now owns 7,481,959 shares of the real estate investment trust’s stock valued at $321,500,000 after purchasing an additional 701,904 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Apartment Investment and Management by 63.3% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,665,067 shares of the real estate investment trust’s stock valued at $71,548,000 after purchasing an additional 645,150 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Apartment Investment and Management in the second quarter valued at approximately $23,487,000. 98.18% of the stock is owned by institutional investors and hedge funds.

About Apartment Investment and Management

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

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Analyst Recommendations for Apartment Investment and Management (NYSE:AIV)

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