$237.24 Million in Sales Expected for Apartment Investment and Management Co (AIV) This Quarter

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Brokerages expect Apartment Investment and Management Co (NYSE:AIV) to post sales of $237.24 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Apartment Investment and Management’s earnings, with the highest sales estimate coming in at $240.07 million and the lowest estimate coming in at $234.42 million. Apartment Investment and Management reported sales of $255.23 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7%. The firm is expected to report its next earnings report after the market closes on Monday, February 4th.

On average, analysts expect that Apartment Investment and Management will report full year sales of $970.53 million for the current financial year, with estimates ranging from $967.82 million to $973.47 million. For the next financial year, analysts forecast that the company will post sales of $961.24 million, with estimates ranging from $944.55 million to $985.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $3.00. Apartment Investment and Management had a return on equity of 55.25% and a net margin of 92.50%. The company had revenue of $242.48 million during the quarter, compared to the consensus estimate of $239.80 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year.

AIV has been the subject of several recent analyst reports. Zacks Investment Research upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, January 23rd. Scotiabank initiated coverage on Apartment Investment and Management in a report on Tuesday, October 16th. They set an “underperform” rating for the company. TheStreet upgraded Apartment Investment and Management from a “c+” rating to a “b” rating in a report on Thursday, November 1st. Wells Fargo & Co set a $50.00 price objective on Apartment Investment and Management and gave the stock a “buy” rating in a report on Friday, November 16th. Finally, ValuEngine upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $47.13.

In related news, insider Lisa R. Cohn sold 5,000 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $45.62, for a total transaction of $228,100.00. Following the completion of the transaction, the insider now directly owns 73,754 shares of the company’s stock, valued at $3,364,657.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas L. Keltner sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 37,829 shares of the company’s stock, valued at $1,765,479.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,210 shares of company stock valued at $522,728. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Private Capital Group LLC boosted its position in Apartment Investment and Management by 24.5% during the fourth quarter. Private Capital Group LLC now owns 1,101 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 217 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Apartment Investment and Management by 3.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,265 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 299 shares during the last quarter. Dupont Capital Management Corp lifted its position in shares of Apartment Investment and Management by 38.0% in the fourth quarter. Dupont Capital Management Corp now owns 2,262 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 623 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Apartment Investment and Management in the fourth quarter valued at approximately $39,000. Finally, Eii Capital Management Inc. lifted its position in shares of Apartment Investment and Management by 3.8% in the fourth quarter. Eii Capital Management Inc. now owns 27,750 shares of the real estate investment trust’s stock valued at $1,218,000 after buying an additional 1,027 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Shares of Apartment Investment and Management stock opened at $49.07 on Monday. Apartment Investment and Management has a 1 year low of $37.97 and a 1 year high of $49.92. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 3.53 and a beta of 0.71. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.76.

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 133 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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