Apartment Investment and Management Co (NYSE:AIV) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Investors of record on Friday, May 17th will be paid a dividend of 0.39 per share by the real estate investment trust on Friday, May 31st. This represents a $1.56 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, May 16th.
Apartment Investment and Management has increased its dividend payment by an average of 8.8% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Apartment Investment and Management has a payout ratio of 63.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apartment Investment and Management to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 59.3%.
AIV traded up $0.48 on Friday, reaching $49.89. The company had a trading volume of 745,148 shares, compared to its average volume of 1,021,117. The company has a market capitalization of $7.43 billion, a P/E ratio of 19.56, a P/E/G ratio of 3.69 and a beta of 0.65. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.68 and a quick ratio of 0.32. Apartment Investment and Management has a 52-week low of $38.54 and a 52-week high of $51.25.
Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $230.24 million for the quarter, compared to the consensus estimate of $226.53 million. Apartment Investment and Management had a net margin of 89.47% and a return on equity of 48.32%. Apartment Investment and Management’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. On average, equities analysts anticipate that Apartment Investment and Management will post 2.47 earnings per share for the current year.
A number of research analysts have commented on AIV shares. Zacks Investment Research cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Barclays cut shares of Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 target price on the stock. in a report on Monday, February 4th. BMO Capital Markets restated a “hold” rating and issued a $47.00 target price on shares of Apartment Investment and Management in a report on Monday, February 4th. SunTrust Banks cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Monday, February 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co restated a “buy” rating on shares of Apartment Investment and Management in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.25.
In related news, EVP Keith M. Kimmel sold 25,000 shares of Apartment Investment and Management stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $49.55, for a total value of $1,238,750.00. Following the sale, the executive vice president now owns 28,753 shares in the company, valued at $1,424,711.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lisa R. Cohn sold 9,695 shares of Apartment Investment and Management stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $48.87, for a total transaction of $473,794.65. Following the completion of the sale, the insider now owns 88,791 shares in the company, valued at approximately $4,339,216.17. The disclosure for this sale can be found here. Insiders sold 164,467 shares of company stock worth $8,117,097 in the last 90 days. Company insiders own 2.83% of the company’s stock.
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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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