$0.60 Earnings Per Share Expected for Apartment Investment and Management Company (NYSE:AIV) This Quarter

Wall Street analysts predict that Apartment Investment and Management Company (NYSE:AIV) will announce earnings per share of $0.60 for the current quarter, Zacks reports. Five analysts have provided estimates for Apartment Investment and Management’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.58. Apartment Investment and Management posted earnings of $0.59 per share during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The company is expected to announce its next earnings results after the market closes on Thursday, July 27th.

On average, analysts expect that Apartment Investment and Management will report full year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.49. For the next financial year, analysts forecast that the firm will report earnings of $2.56 per share, with EPS estimates ranging from $2.51 to $2.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Apartment Investment and Management had a return on equity of 23.66% and a net margin of 41.53%. The company had revenue of $246.50 million for the quarter, compared to analysts’ expectations of $242.87 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis.

Several brokerages have recently commented on AIV. Zacks Investment Research upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday. BidaskClub downgraded Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho cut Apartment Investment and Management from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $45.00 to $42.00 in a report on Monday, July 10th. JMP Securities raised Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Monday, July 10th. Finally, Barclays PLC dropped their price target on Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.50.

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In related news, Director Kathleen M. Nelson sold 1,220 shares of Apartment Investment and Management stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $43.59, for a total transaction of $53,179.80. Following the completion of the sale, the director now directly owns 40,630 shares of the company’s stock, valued at approximately $1,771,061.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in shares of Apartment Investment and Management by 41.2% in the fourth quarter. Teachers Advisors LLC now owns 1,203,230 shares of the real estate investment trust’s stock valued at $54,687,000 after buying an additional 351,177 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Apartment Investment and Management during the fourth quarter valued at $517,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Apartment Investment and Management during the fourth quarter valued at $231,000. Macquarie Group Ltd. boosted its position in shares of Apartment Investment and Management by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 957,394 shares of the real estate investment trust’s stock valued at $43,514,000 after buying an additional 42,326 shares in the last quarter. Finally, Pensionfund Sabic boosted its position in shares of Apartment Investment and Management by 6.9% in the first quarter. Pensionfund Sabic now owns 15,500 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 1,000 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

Apartment Investment and Management (NYSE:AIV) traded down 1.24% during trading on Monday, reaching $43.68. The company’s stock had a trading volume of 1,751,234 shares. The stock’s 50 day moving average is $43.64 and its 200-day moving average is $44.13. The firm has a market cap of $6.86 billion, a P/E ratio of 16.88 and a beta of 0.43. Apartment Investment and Management has a 52 week low of $39.66 and a 52 week high of $47.91.

About Apartment Investment and Management

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

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Earnings History and Estimates for Apartment Investment and Management (NYSE:AIV)

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