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) gapped up prior to trading on Tuesday following a dividend announcement from the company. 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 traded. The newly announced dividend which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $2.23 dividend. The ex-dividend date of this dividend is Tuesday, September 30th.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AIV shares. Wall Street Zen cut 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 target price for the company in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Apartment Investment and Management presently has a consensus rating of "Buy" and an average price target of $10.00.

Apartment Investment and Management Price Performance

The company has a debt-to-equity ratio of 8.06, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $1.10 billion, a P/E ratio of -16.01 and a beta of 1.46. The company has a 50-day moving average price of $8.14 and a 200-day moving average price of $8.22.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $52.76 million during the quarter, compared to the consensus estimate of $54.62 million. Apartment Investment and Management had a negative return on equity of 34.47% and a negative net margin of 30.59%.During the same quarter in the prior 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 predict that Apartment Investment and Management Company will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in Apartment Investment and Management by 278.1% during the second quarter. Squarepoint Ops LLC now owns 157,880 shares of the real estate investment trust's stock worth $1,366,000 after acquiring an additional 116,122 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Apartment Investment and Management by 11.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 206,661 shares of the real estate investment trust's stock worth $1,787,000 after acquiring an additional 21,525 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Apartment Investment and Management by 193.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 16,242 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 10,711 shares during the period. Vision Capital Corp raised its stake in shares of Apartment Investment and Management by 150.8% in the 2nd quarter. Vision Capital Corp now owns 624,036 shares of the real estate investment trust's stock valued at $5,398,000 after purchasing an additional 375,256 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Apartment Investment and Management by 8.8% in the 2nd quarter. Tidal Investments LLC now owns 42,589 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 3,442 shares during the period. 83.26% of the stock is currently owned by 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.

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