Zacks: Brokerages Expect Apartment Investment and Management Co (AIV) Will Post Quarterly Sales of $234.60 Million

Brokerages expect that Apartment Investment and Management Co (NYSE:AIV) will post $234.60 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Apartment Investment and Management’s earnings, with estimates ranging from $227.78 million to $241.22 million. Apartment Investment and Management reported sales of $247.72 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The company is expected to announce its next earnings report on Monday, May 6th.

According to Zacks, analysts expect that Apartment Investment and Management will report full-year sales of $953.12 million for the current financial year, with estimates ranging from $912.08 million to $985.00 million. For the next year, analysts forecast that the company will post sales of $965.14 million, with estimates ranging from $924.80 million to $987.25 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Monday, February 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.61). Apartment Investment and Management had a return on equity of 39.20% and a net margin of 68.29%. The firm had revenue of $232.00 million during the quarter, compared to analyst estimates of $234.44 million. During the same period in the previous year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis.

Several research firms recently commented on AIV. Zacks Investment Research raised Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, December 12th. TheStreet upgraded Apartment Investment and Management from a “c+” rating to a “b” rating in a research note on Thursday, November 1st. Finally, Barclays downgraded Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 target price for the company. in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.13.

In other news, Director Thomas L. Keltner sold 3,500 shares of the stock in a transaction on Monday, December 17th. The shares were sold at an average price of $46.67, for a total value of $163,345.00. Following the completion of the sale, the director now directly owns 37,829 shares of the company’s stock, valued at $1,765,479.43. 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 stock in a transaction on Monday, February 11th. The stock was sold at an average price of $49.28, for a total transaction of $4,928,000.00. Following the completion of the sale, the chief executive officer now directly owns 378,365 shares of the company’s stock, valued at $18,645,827.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,405 shares of company stock worth $7,405,422. 1.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AIV. HRT Financial LLC acquired a new position in shares of Apartment Investment and Management in the 4th quarter worth approximately $383,000. Millennium Management LLC increased its holdings in Apartment Investment and Management by 1,121.4% during the 4th quarter. Millennium Management LLC now owns 829,481 shares of the real estate investment trust’s stock valued at $36,398,000 after purchasing an additional 761,569 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Apartment Investment and Management by 9.4% during the 4th quarter. Macquarie Group Ltd. now owns 813,440 shares of the real estate investment trust’s stock valued at $35,694,000 after purchasing an additional 70,019 shares in the last quarter. V3 Capital Management L.P. increased its holdings in Apartment Investment and Management by 35.4% during the 4th quarter. V3 Capital Management L.P. now owns 742,750 shares of the real estate investment trust’s stock valued at $32,592,000 after purchasing an additional 194,000 shares in the last quarter. Finally, Zimmer Partners LP increased its holdings in Apartment Investment and Management by 75.8% during the 4th quarter. Zimmer Partners LP now owns 483,431 shares of the real estate investment trust’s stock valued at $21,213,000 after purchasing an additional 208,431 shares in the last quarter. 99.06% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:AIV traded down $0.39 during trading on Tuesday, hitting $48.54. 40,288 shares of the company were exchanged, compared to its average volume of 1,356,015. The company has a market capitalization of $7.23 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 3.63 and a beta of 0.71. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.43 and a current ratio of 0.32. Apartment Investment and Management has a 1-year low of $38.17 and a 1-year high of $50.09.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, February 22nd will be given a $0.39 dividend. This is a boost from Apartment Investment and Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.56 annualized dividend and a yield of 3.21%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 61.18%.

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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