BMO Capital Markets Analysts Give Apartment Investment and Management (NYSE:AIV) a $55.00 Price Target

BMO Capital Markets set a $55.00 price target on Apartment Investment and Management (NYSE:AIV) in a research note released on Friday, TipRanks reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on AIV. Mizuho raised Apartment Investment and Management from a neutral rating to a buy rating and set a $55.00 price target on the stock in a research report on Tuesday. ValuEngine lowered Apartment Investment and Management from a buy rating to a hold rating in a research report on Thursday, August 1st. Barclays reaffirmed a hold rating and issued a $51.00 price target on shares of Apartment Investment and Management in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $51.14.

AIV stock traded up $1.26 during mid-day trading on Friday, reaching $50.05. The company had a trading volume of 1,263,206 shares, compared to its average volume of 1,146,709. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.22 and a quick ratio of 0.68. The company has a market cap of $7.48 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 3.78 and a beta of 0.57. The company has a fifty day moving average of $50.62. Apartment Investment and Management has a fifty-two week low of $41.73 and a fifty-two week high of $52.49.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The company had revenue of $224.20 million during the quarter, compared to analyst estimates of $224.36 million. Apartment Investment and Management had a net margin of 98.61% and a return on equity of 49.61%. Apartment Investment and Management’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. Sell-side analysts predict that Apartment Investment and Management will post 2.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.12%. Apartment Investment and Management’s payout ratio is currently 61.18%.

In other 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 value of $312,111.50. Following the transaction, the insider now owns 101,876 shares in the company, valued at approximately $5,124,362.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 6 Meridian increased its holdings in shares of Apartment Investment and Management by 2.1% in the 2nd quarter. 6 Meridian now owns 10,213 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 214 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Apartment Investment and Management by 3.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,452 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 252 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Apartment Investment and Management by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,552 shares of the real estate investment trust’s stock worth $830,000 after buying an additional 297 shares during the last quarter. Raymond James Trust N.A. grew its stake in Apartment Investment and Management by 10.1% during the 2nd quarter. Raymond James Trust N.A. now owns 4,387 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 404 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in Apartment Investment and Management by 3.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,193 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.

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

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