Apartment Investment and Management Co (NYSE:AIV) declared a quarterly dividend on Wednesday, July 29th, RTT News reports. Investors of record on Friday, August 14th will be given a dividend of 0.41 per share by the real estate investment trust on Friday, August 28th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.40%.
Apartment Investment and Management has increased its dividend payment by an average of 14.6% per year over the last three years and has increased its dividend every year for the last 8 years. Apartment Investment and Management has a payout ratio of 400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apartment Investment and Management to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 65.9%.
Shares of Apartment Investment and Management stock opened at $37.29 on Thursday. The stock has a 50-day moving average price of $37.88 and a 200 day moving average price of $41.80. The company has a market cap of $5.55 billion, a P/E ratio of 27.98, a P/E/G ratio of 9.35 and a beta of 0.85. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.67. 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 posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.62). Apartment Investment and Management had a return on equity of 11.34% and a net margin of 22.75%. The firm had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $228.15 million. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts forecast that Apartment Investment and Management will post 2.49 earnings per share for the current fiscal year.
Several equities analysts recently commented on AIV shares. Raymond James downgraded Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Mizuho cut Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, May 19th. Bank of America lowered Apartment Investment and Management from a “neutral” rating to an “underperform” rating in a report on Monday, May 18th. SunTrust Banks upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating and upped their target price for the stock from $43.00 to $44.00 in a report on Thursday, June 18th. Finally, Zelman & Associates lowered Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.50.
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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