Apartment Investment and Management Co (AIV) Expected to Announce Quarterly Sales of $242.55 Million

Wall Street analysts expect Apartment Investment and Management Co (NYSE:AIV) to announce $242.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Apartment Investment and Management’s earnings. The lowest sales estimate is $230.90 million and the highest is $253.47 million. Apartment Investment and Management posted sales of $254.64 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The business is expected to report its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Apartment Investment and Management will report full year sales of $965.60 million for the current financial year, with estimates ranging from $914.90 million to $1.00 billion. For the next financial year, analysts forecast that the firm will report sales of $991.61 million per share, with estimates ranging from $954.40 million to $1.03 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.60). The business had revenue of $250.13 million for the quarter, compared to the consensus estimate of $242.93 million. Apartment Investment and Management had a net margin of 36.78% and a return on equity of 25.11%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS.

AIV has been the subject of a number of recent analyst reports. Zelman & Associates cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Thursday, May 10th. ValuEngine cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Bank of America upped their price objective on shares of Apartment Investment and Management from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, June 8th. Jefferies Financial Group initiated coverage on shares of Apartment Investment and Management in a research report on Monday, June 11th. They issued a “hold” rating and a $40.00 price objective for the company. Finally, Zacks Investment Research cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.00.

AIV opened at $43.88 on Monday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.59 and a quick ratio of 0.59. Apartment Investment and Management has a 12 month low of $37.97 and a 12 month high of $46.72. The firm has a market capitalization of $6.88 billion, a P/E ratio of 17.85, a PEG ratio of 3.75 and a beta of 0.45.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Thursday, August 16th. Apartment Investment and Management’s dividend payout ratio is currently 62.04%.

In related news, insider Keith M. Kimmel sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $43.21, for a total value of $1,080,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuburgh Advisers LLC boosted its stake in Apartment Investment and Management by 14.2% in the 1st quarter. Neuburgh Advisers LLC now owns 10,604 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 1,320 shares during the period. Riverhead Capital Management LLC boosted its stake in Apartment Investment and Management by 14.5% in the 1st quarter. Riverhead Capital Management LLC now owns 11,904 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 1,510 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Apartment Investment and Management by 5.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,861 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 1,522 shares during the period. Tyers Asset Management LLC boosted its stake in Apartment Investment and Management by 14.2% in the 1st quarter. Tyers Asset Management LLC now owns 13,496 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 1,680 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apartment Investment and Management by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,837 shares of the real estate investment trust’s stock worth $1,868,000 after purchasing an additional 1,886 shares during the period. 99.89% 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 133 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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