Apartment Investment and Management (NYSE:AIV) Downgraded by Citigroup to Sell

Citigroup lowered shares of Apartment Investment and Management (NYSE:AIV) from a neutral rating to a sell rating in a report released on Friday, Benzinga reports. They currently have $33.00 price target on the real estate investment trust’s stock, down from their prior price target of $40.00. Several other research analysts […]

Citigroup lowered shares of Apartment Investment and Management (NYSE:AIV) from a neutral rating to a sell rating in a report released on Friday, Benzinga reports. They currently have $33.00 price target on the real estate investment trust’s stock, down from their prior price target of $40.00.

Several other research analysts have also commented on AIV. Goldman Sachs Group lowered shares of Apartment Investment and Management from a buy rating to a neutral rating and reduced their price objective for the stock from $48.00 to $41.00 in a research note on Wednesday, September 9th. Bank of America upgraded Apartment Investment and Management from an underperform rating to a neutral rating in a report on Monday, September 14th. BofA Securities raised shares of Apartment Investment and Management from an underperform rating to a neutral rating in a research report on Monday, September 14th. Zelman & Associates downgraded shares of Apartment Investment and Management from a hold rating to a sell rating in a research note on Friday, July 17th. Finally, BMO Capital Markets cut their target price on Apartment Investment and Management from $41.00 to $40.00 and set a market perform rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $41.00.

NYSE:AIV opened at $34.93 on Friday. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 28.87 and a beta of 0.76. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $36.62 and a 200-day simple moving average of $37.56. Apartment Investment and Management has a 1 year low of $24.53 and a 1 year high of $55.68.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.35). Apartment Investment and Management had a return on equity of 10.05% and a net margin of 20.09%. The company had revenue of $218.08 million for the quarter, compared to analysts’ expectations of $218.05 million. During the same quarter last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts expect that Apartment Investment and Management will post 2.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.70%. Apartment Investment and Management’s payout ratio is currently 65.60%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smithfield Trust Co. acquired a new stake in Apartment Investment and Management during the 2nd quarter worth about $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Apartment Investment and Management in the second quarter worth about $26,000. Glenmede Trust Co. NA boosted its stake in shares of Apartment Investment and Management by 129.4% in the second quarter. Glenmede Trust Co. NA now owns 867 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 489 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Apartment Investment and Management by 1,083.8% during the first quarter. Sowell Financial Services LLC now owns 876 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 802 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. raised its position in Apartment Investment and Management by 98.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 929 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 460 shares in 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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Analyst Recommendations for Apartment Investment and Management (NYSE:AIV)

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