Apartment Investment and Management Co (NYSE:AIV) Expected to Earn Q2 2019 Earnings of $0.62 Per Share

Apartment Investment and Management Co (NYSE:AIV) – Investment analysts at SunTrust Banks reduced their Q2 2019 earnings per share estimates for shares of Apartment Investment and Management in a note issued to investors on Wednesday, June 12th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.63. SunTrust Banks has a “Hold” rating and a $48.00 price objective on the stock. SunTrust Banks also issued estimates for Apartment Investment and Management’s Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.48 EPS, Q1 2020 earnings at $0.64 EPS, Q2 2020 earnings at $0.65 EPS, Q3 2020 earnings at $0.64 EPS, Q4 2020 earnings at $0.65 EPS and FY2020 earnings at $2.59 EPS.

A number of other equities analysts also recently weighed in on AIV. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays restated a “hold” rating and set a $51.00 target price on shares of Apartment Investment and Management in a report on Tuesday, April 16th. BMO Capital Markets restated a “hold” rating and set a $54.00 target price on shares of Apartment Investment and Management in a report on Monday, March 25th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Apartment Investment and Management in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Apartment Investment and Management has an average rating of “Hold” and an average price target of $49.43.

Shares of AIV opened at $51.13 on Friday. The firm has a market cap of $7.64 billion, a P/E ratio of 20.05, a PEG ratio of 3.90 and a beta of 0.59. Apartment Investment and Management has a 1-year low of $40.69 and a 1-year high of $52.00. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.68 and a current ratio of 0.68.

Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. The business had revenue of $230.24 million for the quarter, compared to the consensus estimate of $226.53 million. Apartment Investment and Management had a net margin of 89.47% and a return on equity of 48.32%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a yield of 3.05%. Apartment Investment and Management’s dividend payout ratio (DPR) is 61.18%.

In other Apartment Investment and Management news, insider Miles Cortez sold 6,205 shares of Apartment Investment and Management stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $50.30, for a total transaction of $312,111.50. Following the completion of the transaction, the insider now directly owns 101,876 shares of the company’s stock, valued at $5,124,362.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its position in Apartment Investment and Management by 0.6% during the third quarter. Vanguard Group Inc now owns 25,432,876 shares of the real estate investment trust’s stock worth $1,122,352,000 after purchasing an additional 139,888 shares during the period. BlackRock Inc. boosted its position in Apartment Investment and Management by 3.2% during the fourth quarter. BlackRock Inc. now owns 14,083,432 shares of the real estate investment trust’s stock worth $617,981,000 after purchasing an additional 441,243 shares during the period. Principal Financial Group Inc. boosted its position in Apartment Investment and Management by 7.7% during the first quarter. Principal Financial Group Inc. now owns 8,204,694 shares of the real estate investment trust’s stock worth $412,614,000 after purchasing an additional 589,211 shares during the period. FMR LLC boosted its position in Apartment Investment and Management by 5.7% during the first quarter. FMR LLC now owns 6,614,021 shares of the real estate investment trust’s stock worth $332,619,000 after purchasing an additional 358,290 shares during the period. Finally, Northern Trust Corp boosted its position in Apartment Investment and Management by 11.3% during the fourth quarter. Northern Trust Corp now owns 2,610,433 shares of the real estate investment trust’s stock worth $114,545,000 after purchasing an additional 264,329 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Apartment Investment and Management Company Profile

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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Earnings History and Estimates for Apartment Investment and Management (NYSE:AIV)

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