Apartment Investment and Management Company (NYSE:AIV) issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01, Bloomberg Earnings reports. Apartment Investment and Management had a return on equity of 12.46% and a net margin of 20.64%. The business had revenue of $246.24 million for the quarter, compared to the consensus estimate of $240.78 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. Apartment Investment and Management updated its Q3 guidance to $0.60-0.64 EPS and its FY17 guidance to $2.40-2.48 EPS.
Apartment Investment and Management (NYSE AIV) opened at 45.60 on Tuesday. The company’s 50-day moving average price is $43.72 and its 200 day moving average price is $44.13. Apartment Investment and Management has a 52-week low of $39.66 and a 52-week high of $47.91. The stock has a market capitalization of $7.13 billion, a P/E ratio of 35.91 and a beta of 0.44.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.44 annualized dividend and a yield of 3.16%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 113.39%.
Several analysts have commented on the company. BidaskClub downgraded Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BMO Capital Markets reiterated a “sell” rating and set a $42.00 target price on shares of Apartment Investment and Management in a research note on Thursday, May 25th. JMP Securities upgraded Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Monday, July 10th. Zacks Investment Research upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, July 24th. Finally, Barclays PLC dropped their price target on Apartment Investment and Management from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $46.88.
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About Apartment Investment and Management
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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