BMO Capital Markets Reiterates $42.00 Price Target for Apartment Investment and Management (AIV)

BMO Capital Markets set a $42.00 target price on Apartment Investment and Management (NYSE:AIV) in a report issued on Monday. The brokerage currently has a sell rating on the real estate investment trust’s stock.

AIV has been the subject of a number of other reports. Robert W. Baird reaffirmed a hold rating and issued a $46.00 target price on shares of Apartment Investment and Management in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Apartment Investment and Management from a sell rating to a hold rating in a report on Wednesday, February 7th. TheStreet cut shares of Apartment Investment and Management from a b- rating to a c+ rating in a report on Friday, November 3rd. JMP Securities cut shares of Apartment Investment and Management from an outperform rating to a market perform rating in a report on Tuesday, January 30th. Finally, Mizuho set a $39.00 target price on shares of Apartment Investment and Management and gave the company a hold rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $46.64.

Shares of Apartment Investment and Management (NYSE AIV) opened at $38.70 on Monday. Apartment Investment and Management has a 1 year low of $38.19 and a 1 year high of $46.85. The firm has a market cap of $6,070.00, a price-to-earnings ratio of 774.00, a P/E/G ratio of 2.30 and a beta of 0.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 2.67.

Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, February 1st. The real estate investment trust reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. Apartment Investment and Management had a net margin of 31.19% and a return on equity of 21.25%. The business had revenue of $250.23 million during the quarter, compared to analysts’ expectations of $243.24 million. During the same period in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. equities analysts predict that Apartment Investment and Management will post 2.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from Apartment Investment and Management’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, February 15th. Apartment Investment and Management’s payout ratio is 2,880.00%.

In other news, EVP Miles Cortez sold 2,587 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $41.90, for a total transaction of $108,395.30. Following the transaction, the executive vice president now directly owns 102,456 shares in the company, valued at $4,292,906.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Bezzant sold 7,564 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $44.77, for a total transaction of $338,640.28. Following the transaction, the insider now owns 48,422 shares in the company, valued at $2,167,852.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,534 shares of company stock worth $979,784. Company insiders own 1.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Zeke Capital Advisors LLC acquired a new position in shares of Apartment Investment and Management during the fourth quarter worth about $210,000. Millennium Management LLC increased its stake in shares of Apartment Investment and Management by 10.1% during the fourth quarter. Millennium Management LLC now owns 955,443 shares of the real estate investment trust’s stock worth $41,762,000 after acquiring an additional 87,466 shares during the period. Flinton Capital Management LLC increased its stake in shares of Apartment Investment and Management by 10.8% during the fourth quarter. Flinton Capital Management LLC now owns 14,348 shares of the real estate investment trust’s stock worth $627,000 after acquiring an additional 1,394 shares during the period. NWQ Investment Management Company LLC increased its stake in shares of Apartment Investment and Management by 13.5% during the fourth quarter. NWQ Investment Management Company LLC now owns 199,060 shares of the real estate investment trust’s stock worth $8,701,000 after acquiring an additional 23,665 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Apartment Investment and Management by 13.4% during the fourth quarter. Raymond James & Associates now owns 342,786 shares of the real estate investment trust’s stock worth $14,983,000 after acquiring an additional 40,535 shares during the period. Institutional investors and hedge funds own 99.74% of the company’s stock.

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Apartment Investment and Management Company Profile

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.

Analyst Recommendations for Apartment Investment and Management (NYSE:AIV)

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