Zacks: Brokerages Expect Apartment Investment and Management Co (NYSE:AIV) to Post $0.59 EPS

Wall Street analysts forecast that Apartment Investment and Management Co (NYSE:AIV) will announce earnings per share of $0.59 for the current quarter, according to Zacks Investment Research. Four analysts have made 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 $0.56. Apartment Investment and Management posted earnings per share of $0.64 during the same quarter last year, which indicates a negative year over year growth rate of 7.8%. The business is expected to announce its next quarterly earnings results on Thursday, October 29th.

On average, analysts expect that Apartment Investment and Management will report full year earnings of $2.48 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.58. For the next fiscal year, analysts expect that the company will report earnings of $2.43 per share, with EPS estimates ranging from $2.13 to $2.53. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.35). Apartment Investment and Management had a net margin of 20.09% and a return on equity of 10.05%. The business had revenue of $218.08 million for the quarter, compared to analysts’ expectations of $218.05 million. During the same period last year, the firm earned $0.60 EPS. The company’s revenue was down 2.7% compared to the same quarter last year.

AIV has been the subject of several recent research reports. SunTrust Banks raised Apartment Investment and Management from a “hold” rating to a “buy” rating and boosted their price target for the company from $43.00 to $44.00 in a research note on Thursday, June 18th. Bank of America raised Apartment Investment and Management from an “underperform” rating to a “neutral” rating in a research note on Monday. BofA Securities raised Apartment Investment and Management from an “underperform” rating to a “neutral” rating in a research note on Monday. BMO Capital Markets reduced their target price on Apartment Investment and Management from $41.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Zelman & Associates lowered Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Apartment Investment and Management currently has a consensus rating of “Hold” and a consensus price target of $41.29.

NYSE:AIV opened at $37.18 on Thursday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.25 and a quick ratio of 1.25. Apartment Investment and Management has a fifty-two week low of $24.53 and a fifty-two week high of $55.68. The stock’s 50-day moving average is $36.64 and its two-hundred day moving average is $37.68. The stock has a market cap of $5.53 billion, a PE ratio of 30.73 and a beta of 0.76.

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

Hedge funds have recently modified their holdings of the company. Smithfield Trust Co. acquired a new position in shares of Apartment Investment and Management during the second quarter worth approximately $25,000. First Horizon Advisors Inc. bought a new stake in shares of Apartment Investment and Management during the second quarter worth $26,000. Glenmede Trust Co. NA grew its holdings in shares of Apartment Investment and Management by 129.4% during the second quarter. Glenmede Trust Co. NA now owns 867 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 489 shares during the last quarter. Sowell Financial Services LLC grew its holdings in shares of Apartment Investment and Management by 1,083.8% during the first quarter. Sowell Financial Services LLC now owns 876 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 802 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Apartment Investment and Management by 98.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 929 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 460 shares during the last quarter.

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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