Brokerages Expect Apartment Investment and Management Co (AIV) Will Post Earnings of $0.61 Per Share

Analysts expect that Apartment Investment and Management Co (NYSE:AIV) will announce $0.61 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Apartment Investment and Management’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.59. Apartment Investment and Management reported earnings of $0.62 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.6%. The firm is expected to announce its next earnings report after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Apartment Investment and Management will report full-year earnings of $2.52 per share for the current year, with EPS estimates ranging from $2.46 to $2.63. For the next financial year, analysts anticipate that the business will report earnings of $2.64 per share, with EPS estimates ranging from $2.55 to $2.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Monday, February 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.61). The company had revenue of $232.00 million for the quarter, compared to analyst estimates of $234.44 million. Apartment Investment and Management had a return on equity of 39.20% and a net margin of 68.29%. Apartment Investment and Management’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 earnings per share.

AIV has been the subject of several research reports. Barclays lowered shares of Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 price target for the company. in a report on Monday, February 4th. Zacks Investment Research lowered shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price target on shares of Apartment Investment and Management in a report on Monday, February 4th. Finally, SunTrust Banks lowered shares of Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Monday, February 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.25.

In related news, CEO Terry Considine sold 100,000 shares of Apartment Investment and Management stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $49.28, for a total value of $4,928,000.00. Following the sale, the chief executive officer now directly owns 378,365 shares in the company, valued at approximately $18,645,827.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lisa R. Cohn sold 831 shares of Apartment Investment and Management stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $48.00, for a total transaction of $39,888.00. Following the completion of the sale, the executive vice president now owns 72,923 shares in the company, valued at $3,500,304. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,177 shares of company stock worth $8,248,379. 2.83% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. raised its position in shares of Apartment Investment and Management by 69.3% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 7,939 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 3,249 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Apartment Investment and Management by 3.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,452 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 252 shares in the last quarter. Virtu Financial LLC raised its position in shares of Apartment Investment and Management by 52.1% during the 1st quarter. Virtu Financial LLC now owns 10,662 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 3,653 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of Apartment Investment and Management by 7.0% during the 1st quarter. CAPROCK Group Inc. now owns 9,737 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 640 shares in the last quarter. Finally, Calamos Advisors LLC raised its position in shares of Apartment Investment and Management by 1.0% during the 1st quarter. Calamos Advisors LLC now owns 162,788 shares of the real estate investment trust’s stock worth $8,187,000 after buying an additional 1,690 shares in the last quarter.

AIV stock traded down $1.55 during mid-day trading on Thursday, hitting $49.34. 55,350 shares of the company were exchanged, compared to its average volume of 1,142,687. Apartment Investment and Management has a twelve month low of $38.54 and a twelve month high of $51.25. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $7.34 billion, a P/E ratio of 19.53, a P/E/G ratio of 3.76 and a beta of 0.68.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 22nd were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This is an increase from Apartment Investment and Management’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.16%. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 61.18%.

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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