Brokerages Anticipate Apartment Investment and Management Co (NYSE:AIV) to Announce $0.62 Earnings Per Share

Analysts expect that Apartment Investment and Management Co (NYSE:AIV) will report earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Apartment Investment and Management’s earnings, with estimates ranging from $0.61 to $0.63. Apartment Investment and Management reported earnings per share of $0.65 in the same quarter last year, which would suggest a negative year over year growth rate of 4.6%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Apartment Investment and Management will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.51. For the next fiscal year, analysts anticipate that the business will report earnings of $2.62 per share, with EPS estimates ranging from $2.55 to $2.72. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. The business had revenue of $224.20 million for the quarter, compared to the consensus estimate of $224.36 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year.

Several research analysts have recently commented on AIV shares. Barclays reiterated a “hold” rating and set a $51.00 target price on shares of Apartment Investment and Management in a research note on Tuesday, April 16th. Zacks Investment Research raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, ValuEngine cut Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Apartment Investment and Management has a consensus rating of “Hold” and a consensus price target of $49.43.

Shares of NYSE AIV traded up $0.67 during midday trading on Friday, hitting $50.23. 2,100,040 shares of the company’s 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. Apartment Investment and Management has a 12 month low of $41.28 and a 12 month high of $52.49. The business has a 50 day moving average of $50.71. 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.

The company also recently declared 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 is Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 3.11%. Apartment Investment and Management’s payout ratio is currently 61.18%.

In related news, insider Miles Cortez sold 6,205 shares of Apartment Investment and Management stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total transaction of $312,111.50. Following the completion of the sale, the insider now directly owns 101,876 shares of the company’s stock, valued at approximately $5,124,362.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.83% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp acquired a new position in Apartment Investment and Management in the 1st quarter valued at $25,000. Optimum Investment Advisors raised its holdings in Apartment Investment and Management by 214.1% in the 1st quarter. Optimum Investment Advisors now owns 2,199 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 1,499 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Apartment Investment and Management by 42.8% in the 1st quarter. Quadrant Capital Group LLC now owns 2,962 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 888 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Apartment Investment and Management in the 1st quarter valued at $180,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Apartment Investment and Management in the 4th quarter valued at $178,000. 96.55% of the stock is owned by hedge funds and other institutional investors.

About Apartment Investment and Management

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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