Apartment Investment and Management (NYSE:AIV) Raised 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.

Wolfe Research upgraded shares of Apartment Investment and Management (NYSE:AIV - Free Report) from a peer perform rating to an outperform rating in a research report report published on Monday morning, MarketBeat Ratings reports. Wolfe Research currently has $10.00 price objective on the real estate investment trust's stock.

Separately, Wall Street Zen lowered 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 Price Performance

Shares of NYSE:AIV traded down $0.30 during midday trading on Monday, hitting $8.05. The company had a trading volume of 4,207,550 shares, compared to its average volume of 1,031,833. Apartment Investment and Management has a twelve month low of $6.89 and a twelve month high of $9.48. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -10.45 and a beta of 1.39. The company has a debt-to-equity ratio of 6.94, a current ratio of 1.34 and a quick ratio of 1.34. The business's 50-day simple moving average is $8.53 and its 200-day simple moving average is $8.46.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Apartment Investment and Management had a negative return on equity of 45.41% and a negative net margin of 50.37%. The business had revenue of $52.35 million for the quarter, compared to analyst estimates of $53.64 million. On average, research analysts predict that Apartment Investment and Management will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On Apartment Investment and Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rush Island Management LP increased its stake in Apartment Investment and Management by 156.7% during the fourth quarter. Rush Island Management LP now owns 4,543,774 shares of the real estate investment trust's stock worth $41,303,000 after purchasing an additional 2,773,984 shares during the period. Argosy Lionbridge Management LLC purchased a new stake in Apartment Investment and Management during the 4th quarter worth approximately $21,226,000. Aew Capital Management L P acquired a new stake in Apartment Investment and Management during the 1st quarter worth approximately $17,491,000. Landmark Investment Partners L.P. purchased a new position in Apartment Investment and Management in the 4th quarter valued at approximately $12,447,000. Finally, Land & Buildings Investment Management LLC boosted its position in Apartment Investment and Management by 77.2% in the 4th quarter. Land & Buildings Investment Management LLC now owns 3,074,160 shares of the real estate investment trust's stock valued at $27,944,000 after buying an additional 1,338,921 shares during the period. 83.26% of the stock is owned by hedge funds and other institutional investors.

About Apartment Investment and Management

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.