Apartment Investment and Management Co (AIV) Expected to Announce Quarterly Sales of $228.69 Million

Wall Street analysts expect that Apartment Investment and Management Co (NYSE:AIV) will post $228.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Apartment Investment and Management’s earnings. The highest sales estimate is $235.48 million and the lowest is $224.28 million. Apartment Investment and Management reported sales of $250.19 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.6%. The company is expected to issue its next earnings results on Thursday, August 1st.

On average, analysts expect that Apartment Investment and Management will report full year sales of $916.66 million for the current financial year, with estimates ranging from $897.00 million to $946.48 million. For the next year, analysts anticipate that the business will report sales of $937.46 million, with estimates ranging from $922.00 million to $975.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $230.24 million during the quarter, compared to the consensus estimate of $226.53 million. Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. Apartment Investment and Management’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS.

AIV has been the subject of several analyst reports. Zacks Investment Research upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, January 23rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Apartment Investment and Management in a report on Monday, March 4th. Barclays cut Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 price target for the company. in a report on Monday, February 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $54.00 price target on shares of Apartment Investment and Management in a report on Monday, March 25th. Finally, SunTrust Banks cut Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Monday, February 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.25.

Shares of Apartment Investment and Management stock traded up $0.11 during midday trading on Friday, hitting $49.19. 18,961 shares of the company were exchanged, compared to its average volume of 1,244,099. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.68 and a quick ratio of 0.32. The company has a market capitalization of $7.15 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.65. Apartment Investment and Management has a 52 week low of $38.54 and a 52 week high of $51.25.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a yield of 3.17%. Apartment Investment and Management’s dividend payout ratio is presently 61.18%.

In other news, insider Patti K. Fielding sold 20,272 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.64, for a total value of $1,006,302.08. Following the sale, the insider now directly owns 35,187 shares in the company, valued at $1,746,682.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Terry Considine sold 100,000 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $49.28, for a total value of $4,928,000.00. Following the completion of the sale, the chief executive officer now owns 378,365 shares in the company, valued at $18,645,827.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,467 shares of company stock worth $8,117,097. Corporate insiders own 2.83% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can raised its holdings in Apartment Investment and Management by 15.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 144,962 shares of the real estate investment trust’s stock worth $5,911,000 after acquiring an additional 18,961 shares in the last quarter. Strs Ohio increased its position in Apartment Investment and Management by 5.8% during the fourth quarter. Strs Ohio now owns 227,852 shares of the real estate investment trust’s stock worth $9,998,000 after buying an additional 12,588 shares during the last quarter. Citigroup Inc. increased its position in Apartment Investment and Management by 59.4% during the fourth quarter. Citigroup Inc. now owns 291,277 shares of the real estate investment trust’s stock worth $12,781,000 after buying an additional 108,506 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Apartment Investment and Management by 13.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 170,000 shares of the real estate investment trust’s stock worth $7,460,000 after buying an additional 20,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Apartment Investment and Management by 9.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 224,500 shares of the real estate investment trust’s stock worth $9,851,000 after buying an additional 20,000 shares during the last quarter.

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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