Apartment Investment and Management (NYSE:AIV) Rating Increased to Outperform at Wolfe Research

Key Points

• Wolfe Research upgraded Apartment Investment and Management's stock rating from "peer perform" to "outperform", with a target price of $10.00, suggesting a potential 19.19% upside.
• In contrast, Wall Street Zen has downgraded the stock from "hold" to "sell" as of May 30th.
• Despite recent upgrades, AIV's stock opened at $8.39, experiencing a slight decline of 0.2%, and the company reported a negative net margin and EPS of ($0.10) in its latest earnings report.

Apartment Investment and Management (NYSE:AIV - Get Free Report) was upgraded by equities researchers at Wolfe Research from a "peer perform" rating to an "outperform" rating in a report released on Monday,Benzinga reports. The brokerage currently has a $10.00 target price on the real estate investment trust's stock. Wolfe Research's price target indicates a potential upside of 19.19% from the company's current price.

Separately, Wall Street Zen downgraded shares of Apartment Investment and Management from a "hold" rating to a "sell" rating in a report on Friday, May 30th.

Apartment Investment and Management Stock Down 0.2%

NYSE AIV opened at $8.39 on Monday. Apartment Investment and Management has a one year low of $6.89 and a one year high of $9.48. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.34 and a current ratio of 1.34. The business has a fifty day moving average price of $8.48 and a 200 day moving average price of $8.46. The company has a market cap of $1.19 billion, a P/E ratio of -10.90 and a beta of 1.39.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $52.35 million during the quarter, compared to analysts' expectations of $53.64 million. Apartment Investment and Management had a negative net margin of 50.37% and a negative return on equity of 45.41%. Research analysts anticipate that Apartment Investment and Management will post -0.8 EPS for the current fiscal year.

Institutional Trading of Apartment Investment and Management

A number of hedge funds and other institutional investors have recently modified their holdings of AIV. Vanguard Group Inc. boosted its position in shares of Apartment Investment and Management by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,340,629 shares of the real estate investment trust's stock valued at $170,198,000 after acquiring an additional 212,813 shares during the last quarter. Millennium Management LLC raised its stake in Apartment Investment and Management by 14.0% during the fourth quarter. Millennium Management LLC now owns 7,145,287 shares of the real estate investment trust's stock worth $64,951,000 after purchasing an additional 877,954 shares during the period. Newtyn Management LLC boosted its holdings in Apartment Investment and Management by 32.4% in the 1st quarter. Newtyn Management LLC now owns 5,000,000 shares of the real estate investment trust's stock valued at $44,000,000 after purchasing an additional 1,223,856 shares during the last quarter. Irenic Capital Management LP grew its stake in shares of Apartment Investment and Management by 21.5% in the 1st quarter. Irenic Capital Management LP now owns 4,633,134 shares of the real estate investment trust's stock valued at $40,772,000 after buying an additional 820,539 shares during the period. Finally, Rush Island Management LP increased its holdings in shares of Apartment Investment and Management by 156.7% during the 4th quarter. Rush Island Management LP now owns 4,543,774 shares of the real estate investment trust's stock worth $41,303,000 after buying an additional 2,773,984 shares during the last quarter. 83.26% of the stock is owned by institutional investors and hedge funds.

Apartment Investment and Management Company Profile

Apartment Investment & Management Co operates as a real estate investment trust that engages in the acquisition, ownership, management and redevelopment of apartment properties. The company was founded in 1975 and is headquartered in Denver, CO.

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