Apartment Investment and Management (AIV) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Apartment Investment and Management (NYSE: AIV) in the last few weeks:

  • 2/9/2018 – Apartment Investment and Management was given a new $39.00 price target on by analysts at Mizuho. They now have a “hold” rating on the stock.
  • 2/9/2018 – Apartment Investment and Management was upgraded by analysts at Zelman & Associates from a “sell” rating to a “hold” rating.
  • 2/7/2018 – Apartment Investment and Management was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Apartment Investment and Management Company, better known as Aimco, have outperformed its industry in the past three months. The Zacks Consensus Estimate for funds from operation (FFO) per share for 2018 remained stable in a month’s time. The company’s fourth-quarter 2017 results displayed growth in same-store property net operating income (NOI). Notably, the company is making diligent efforts to reposition its portfolio by shedding non-strategic properties and investing the proceeds in opportunistic acquisitions. Further, its improving balance sheet keeps us optimistic. However, new supply in various markets is anticipated to dampen the company’s rent growth and new lease pricing ability. Also, the dilutive impact on earnings from asset dispositions cannot be bypassed in the near term. Further, rate hike add to its woes.”
  • 1/30/2018 – Apartment Investment and Management had its price target lowered by analysts at Barclays PLC from $48.00 to $47.00. They now have an “overweight” rating on the stock.
  • 1/30/2018 – Apartment Investment and Management was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
  • 1/22/2018 – Apartment Investment and Management was upgraded by analysts at SunTrust Banks, Inc. from a “hold” rating to a “buy” rating. They now have a $46.00 price target on the stock.
  • 1/9/2018 – Apartment Investment and Management had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $42.00 price target on the stock.
  • 1/8/2018 – Apartment Investment and Management was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Apartment Investment and Management Company, better known as Aimco, have underperformed its industry, in the past year. Moreover, the Zacks Consensus Estimate for funds from operation (FFO) per share for fourth-quarter 2017 was revised downward in a month’s time. Recently, the lawsuit of Aimco against Airbnb, which alleged that the short-term rental website has allowed tenants to violate their lease agreements through unauthorized subleases, has been dismissed by a California judge. In addition, though the company is making diligent efforts to reposition its portfolio by shedding non-strategic properties and investing the proceeds in opportunistic acquisitions, the dilutive impact on earnings from such asset dispositions cannot be bypassed in the near term. Moreover, intense competition from new supply in various markets is anticipated to dampen the company’s rent growth and new lease pricing ability.”

Apartment Investment and Management Co (AIV) traded down $0.91 during trading on Monday, reaching $38.43. The company’s stock had a trading volume of 171,787 shares, compared to its average volume of 1,094,317. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 2.67. The stock has a market capitalization of $6,155.81, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41. Apartment Investment and Management Co has a one year low of $38.19 and a one year high of $46.85.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $250.23 million during the quarter, compared to the consensus estimate of $243.24 million. Apartment Investment and Management had a return on equity of 21.25% and a net margin of 31.19%. Apartment Investment and Management’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. research analysts anticipate that Apartment Investment and Management Co will post 2.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th will be given a dividend of $0.38 per share. This is an increase from Apartment Investment and Management’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, February 15th. This represents a $1.52 annualized dividend and a yield of 3.96%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 73.85%.

In other news, EVP Miles Cortez sold 2,587 shares of Apartment Investment and Management stock in a transaction on Monday, January 29th. The stock was sold at an average price of $41.90, for a total value of $108,395.30. Following the completion of the sale, the executive vice president now owns 102,456 shares of the company’s stock, valued at $4,292,906.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lisa R. Cohn sold 2,858 shares of Apartment Investment and Management stock in a transaction on Monday, January 29th. The shares were sold at an average price of $41.80, for a total value of $119,464.40. Following the completion of the sale, the insider now directly owns 53,071 shares of the company’s stock, valued at approximately $2,218,367.80. The disclosure for this sale can be found here. Insiders have sold 13,840 shares of company stock valued at $601,718 in the last three months. 1.20% of the stock is currently owned by company insiders.

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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