Apartment Investment and Management (NYSE:AIV) Sets New 12-Month High at $54.62

Apartment Investment and Management Co (NYSE:AIV) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.62 and last traded at $54.60, with a volume of 8464 shares trading hands. The stock had previously closed at $54.48.

Several brokerages recently issued reports on AIV. Mizuho upgraded Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, August 6th. ValuEngine lowered Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. SunTrust Banks upped their price target on Apartment Investment and Management from $49.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Barclays set a $53.00 price target on Apartment Investment and Management and gave the stock a “hold” rating in a research report on Friday, October 11th. Finally, BMO Capital Markets raised Apartment Investment and Management from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $56.00 to $58.00 in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Apartment Investment and Management currently has an average rating of “Hold” and an average target price of $53.17.

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.22 and a current ratio of 0.22. The business has a 50-day simple moving average of $52.31 and a two-hundred day simple moving average of $50.85. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 4.84 and a beta of 0.54.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Apartment Investment and Management had a return on equity of 49.61% and a net margin of 98.61%. The firm had revenue of $224.20 million for the quarter, compared to analyst estimates of $224.36 million. During the same period last year, the company earned $0.59 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. On average, analysts expect that Apartment Investment and Management Co will post 2.48 earnings per share for the current fiscal year.

In other news, Director Kathleen M. Nelson sold 2,400 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $50.16, for a total value of $120,384.00. Following the completion of the sale, the director now owns 44,329 shares of the company’s stock, valued at approximately $2,223,542.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.83% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIV. Nuveen Asset Management LLC boosted its holdings in shares of Apartment Investment and Management by 191.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,852,566 shares of the real estate investment trust’s stock valued at $92,850,000 after buying an additional 1,217,071 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Apartment Investment and Management by 43.2% in the 2nd quarter. Morgan Stanley now owns 1,815,925 shares of the real estate investment trust’s stock valued at $91,014,000 after buying an additional 547,576 shares during the last quarter. Long Pond Capital LP acquired a new stake in shares of Apartment Investment and Management in the 2nd quarter valued at approximately $27,401,000. Balyasny Asset Management LLC boosted its holdings in shares of Apartment Investment and Management by 46.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,396,811 shares of the real estate investment trust’s stock valued at $70,008,000 after buying an additional 445,430 shares during the last quarter. Finally, Hexavest Inc. acquired a new stake in shares of Apartment Investment and Management in the 2nd quarter valued at approximately $22,138,000. 95.75% of the stock is owned by institutional investors.

Apartment Investment and Management Company Profile (NYSE:AIV)

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.

Featured Article: The role of implied volatility with call option volume

Receive News & Ratings for Apartment Investment and Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Investment and Management and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit