Zelman & Associates Upgrades Apartment Investment and Management (NYSE:AIV) to Hold

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Zelman & Associates upgraded shares of Apartment Investment and Management (NYSE:AIV) from a sell rating to a hold rating in a report issued on Monday, The Fly reports.

Several other research firms have also weighed in on AIV. ValuEngine lowered Apartment Investment and Management from a buy rating to a hold rating in a research note on Thursday, August 1st. Mizuho raised Apartment Investment and Management from a neutral rating to a buy rating and set a $55.00 price objective on the stock in a research note on Tuesday, August 6th. BMO Capital Markets set a $55.00 price objective on Apartment Investment and Management and gave the company a hold rating in a research note on Friday, August 2nd. Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating in a research note on Tuesday, April 16th. Finally, Barclays reaffirmed a hold rating and issued a $51.00 price objective on shares of Apartment Investment and Management in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Apartment Investment and Management currently has an average rating of Hold and a consensus price target of $51.14.

AIV opened at $50.08 on Monday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.22 and a quick ratio of 0.68. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 4.49 and a beta of 0.57. The business has a 50-day moving average of $50.49 and a two-hundred day moving average of $50.13. Apartment Investment and Management has a 12 month low of $41.73 and a 12 month high of $52.49.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $224.20 million during the quarter, compared to analysts’ expectations of $224.36 million. Apartment Investment and Management had a net margin of 98.61% and a return on equity of 49.61%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts anticipate that Apartment Investment and Management will post 2.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, August 15th. Apartment Investment and Management’s dividend payout ratio is currently 61.18%.

In other news, insider Miles Cortez sold 6,205 shares of Apartment Investment and Management stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total value of $312,111.50. Following the transaction, the insider now directly owns 101,876 shares of the company’s stock, valued at approximately $5,124,362.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new position in Apartment Investment and Management during the 1st quarter worth approximately $25,000. TCG Advisors LP acquired a new position in Apartment Investment and Management during the 2nd quarter worth approximately $46,000. USA Financial Portformulas Corp lifted its position in Apartment Investment and Management by 31.3% during the 2nd quarter. USA Financial Portformulas Corp now owns 1,103 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 263 shares in the last quarter. Optimum Investment Advisors lifted its position in Apartment Investment and Management by 214.1% during the 1st quarter. Optimum Investment Advisors now owns 2,199 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Apartment Investment and Management by 42.8% in the 1st quarter. Quadrant Capital Group LLC now owns 2,962 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 888 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

About Apartment Investment and Management

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.

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The Fly

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

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