Apartment Investment and Management (NYSE:AIV) Upgraded at BofA Securities

BofA Securities upgraded shares of Apartment Investment and Management (NYSE:AIV) from an underperform rating to a neutral rating in a research report sent to investors on Monday morning, Briefing.com reports.

A number of other analysts have also recently commented on AIV. Raymond James cut Apartment Investment and Management from an outperform rating to a market perform rating in a research note on Friday, June 12th. SunTrust Banks raised Apartment Investment and Management from a hold rating to a buy rating and upped their price target for the company from $43.00 to $44.00 in a research note on Thursday, June 18th. Zelman & Associates cut Apartment Investment and Management from a hold rating to a sell rating in a research note on Friday, July 17th. Zacks Investment Research raised Apartment Investment and Management from a sell rating to a hold rating and set a $39.00 target price for the company in a research note on Friday, September 4th. Finally, Bank of America cut Apartment Investment and Management from a neutral rating to an underperform rating in a research note on Monday, May 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Apartment Investment and Management presently has an average rating of Hold and a consensus price target of $41.29.

Shares of AIV stock opened at $37.18 on Monday. 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 stock has a market cap of $5.53 billion, a PE ratio of 30.73 and a beta of 0.76. The stock has a 50-day moving average of $36.64 and a 200-day moving average of $37.68. Apartment Investment and Management has a one year low of $24.53 and a one year high of $55.68.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Thursday, August 13th. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 65.60%.

Large investors have recently added to or reduced their stakes in the business. Smithfield Trust Co. acquired a new position in Apartment Investment and Management during the 2nd quarter worth approximately $25,000. First Horizon Advisors Inc. acquired a new position in Apartment Investment and Management during the 2nd quarter worth approximately $26,000. Sowell Financial Services LLC boosted its position in Apartment Investment and Management by 1,083.8% during the 1st 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 last quarter. Glenmede Trust Co. NA boosted its position in Apartment Investment and Management by 129.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 867 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 489 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in Apartment Investment and Management during the 1st quarter worth approximately $32,000.

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.

Recommended Story: Straddles

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

Receive News & Ratings for Apartment Investment and Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Investment and Management and related companies with MarketBeat.com's FREE daily email newsletter.