The Apartment Investment and Management Co. (AIV) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

The Apartment Investment and Management Co. (AIV) Releases Quarterly  Earnings Results, Misses Expectations By $0.01 EPS

Apartment Investment and Management Co. (NYSE:AIV) posted its earnings results on Thursday. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.01. The business earned $244.12 million during the quarter, compared to analyst estimates of $239.45 million. Apartment Investment and Management had a net margin of 33.39% and a return on equity of 19.95%. Apartment Investment and Management’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Apartment Investment and Management updated its Q4 guidance to $0.58-0.62 EPS.

Apartment Investment and Management (NYSE:AIV) opened at 42.85 on Monday. The company’s 50-day moving average is $43.99 and its 200-day moving average is $43.37. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 20.72 and a beta of 0.52. Apartment Investment and Management has a 12 month low of $34.97 and a 12 month high of $47.91.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 18th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.08%. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 64.08%.

AIV has been the subject of a number of analyst reports. Barclays PLC lifted their target price on shares of Apartment Investment and Management from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, July 19th. Zacks Investment Research cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Mizuho cut shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $48.00 in a research note on Monday, August 1st. Canaccord Genuity lifted their target price on shares of Apartment Investment and Management from $41.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, August 2nd. Finally, JMP Securities cut shares of Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Apartment Investment and Management presently has a consensus rating of “Hold” and a consensus price target of $45.75.

In other news, CFO Paul Beldin sold 4,218 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.67, for a total transaction of $192,636.06. Following the completion of the transaction, the chief financial officer now directly owns 34,771 shares of the company’s stock, valued at approximately $1,587,991.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa R. Cohn sold 8,102 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $45.57, for a total transaction of $369,208.14. Following the transaction, the insider now directly owns 73,602 shares of the company’s stock, valued at $3,354,043.14. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. increased its stake in Apartment Investment and Management by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 953,666 shares of the real estate investment trust’s stock valued at $39,882,000 after buying an additional 59,896 shares during the last quarter. Nationwide Fund Advisors increased its stake in Apartment Investment and Management by 61.7% in the second quarter. Nationwide Fund Advisors now owns 272,151 shares of the real estate investment trust’s stock valued at $12,018,000 after buying an additional 103,875 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in Apartment Investment and Management by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 28,963 shares of the real estate investment trust’s stock valued at $1,279,000 after buying an additional 142 shares during the last quarter. Renaissance Technologies LLC increased its stake in Apartment Investment and Management by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,470,685 shares of the real estate investment trust’s stock valued at $61,504,000 after buying an additional 270,700 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Apartment Investment and Management during the second quarter valued at approximately $318,000.

Apartment Investment and Management Company Profile

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