Apartment Investment and Management (NYSE:AIV) Releases Q3 Earnings Guidance

Apartment Investment and Management (NYSE:AIV) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.60-0.64 for the period, compared to the Thomson Reuters consensus estimate of $0.63. Apartment Investment and Management also updated its FY 2019 guidance to $2.15-2.23 EPS.

Shares of AIV stock traded up $0.67 on Friday, hitting $50.23. 2,100,040 shares of the stock were exchanged, compared to its average volume of 910,968. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 3.73 and a beta of 0.57. Apartment Investment and Management has a one year low of $41.28 and a one year high of $52.49. The firm has a 50 day moving average price of $50.71.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). The firm had revenue of $224.20 million for the quarter, compared to the consensus estimate of $224.36 million. Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. Sell-side analysts expect that Apartment Investment and Management will post 2.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 3.11%. Apartment Investment and Management’s dividend payout ratio (DPR) is 61.18%.

A number of brokerages recently issued reports on AIV. Barclays reissued a hold rating and set a $51.00 price objective on shares of Apartment Investment and Management in a report on Tuesday, April 16th. ValuEngine cut Apartment Investment and Management from a buy rating to a hold rating in a report on Thursday. Finally, Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $49.43.

In related news, insider Miles Cortez sold 6,205 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total transaction of $312,111.50. Following the sale, the insider now owns 101,876 shares of the company’s stock, valued at approximately $5,124,362.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

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 132 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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