Apartment Investment and Management (NYSE:AIV) Shares Gap Up Following Dividend Announcement

Key Points

• Apartment Investment and Management Company (NYSE:AIV) shares rose from $7.42 to $7.86 following the announcement of a $2.23 dividend, set to be paid on October 15th to stockholders of record as of September 30th.
• Despite the dividend announcement, analysts have mixed views, with some downgrading the stock to a "sell" rating while others maintain a "buy" rating with a target price of $10.00.
• In the recent earnings report, AIV missed consensus estimates with an EPS of ($0.14) and revealed a negative return on equity of 34.47%.

Apartment Investment and Management Company (NYSE:AIV - Get Free Report) shares gapped up prior to trading on Tuesday after the company announced a dividend. The stock had previously closed at $7.42, but opened at $7.86. Apartment Investment and Management shares last traded at $7.67, with a volume of 876,993 shares.

The newly announced dividend which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $2.23 per share. The ex-dividend date of this dividend is Thursday, October 16th.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIV. Wall Street Zen lowered Apartment Investment and Management from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Wolfe Research raised Apartment Investment and Management from a "peer perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $10.00.

Apartment Investment and Management Trading Down 0.4%

The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average of $8.08 and a 200-day moving average of $8.20. The firm has a market capitalization of $1.12 billion, a PE ratio of -16.40 and a beta of 1.46.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its earnings results on Monday, August 11th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Apartment Investment and Management had a negative net margin of 30.59% and a negative return on equity of 34.47%. The company had revenue of $52.76 million for the quarter, compared to the consensus estimate of $54.62 million. During the same quarter last year, the business earned ($0.43) earnings per share. Apartment Investment and Management has set its FY 2025 guidance at 5.200-5.400 EPS. On average, sell-side analysts anticipate that Apartment Investment and Management Company will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apartment Investment and Management

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Apartment Investment and Management in the 2nd quarter worth approximately $59,000. Point72 Asset Management L.P. bought a new stake in shares of Apartment Investment and Management in the 4th quarter valued at $77,000. GAMMA Investing LLC increased its position in shares of Apartment Investment and Management by 980.0% in the 1st quarter. GAMMA Investing LLC now owns 9,126 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 8,281 shares in the last quarter. Covestor Ltd increased its holdings in Apartment Investment and Management by 276.5% during the 1st quarter. Covestor Ltd now owns 9,355 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 6,870 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Apartment Investment and Management in the 1st quarter valued at about $85,000. 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.