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Apartment Investment and Management (NYSE:AIV) Rating Lowered to Sell at ValuEngine

Last updated on Friday, September 18, 2020 | 2020 MarketBeat

Apartment Investment and Management (NYSE:AIV) was downgraded by investment analysts at ValuEngine from a "hold" rating to a "sell" rating in a research report issued on Friday, ValuEngine reports.

AIV has been the topic of several other research reports. SunTrust Banks upgraded shares of Apartment Investment and Management from a "hold" rating to a "buy" rating and increased their price target for the stock from $43.00 to $44.00 in a research report on Thursday, June 18th. Bank of America raised Apartment Investment and Management from an "underperform" rating to a "neutral" rating in a report on Monday. Zelman & Associates cut Apartment Investment and Management from a "hold" rating to a "sell" rating in a report on Friday, July 17th. Raymond James lowered Apartment Investment and Management from an "outperform" rating to a "market perform" rating in a research note on Friday, June 12th. Finally, Citigroup downgraded Apartment Investment and Management from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $40.00 to $33.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. The stock has an average rating of "Hold" and an average target price of $41.00.

Shares of NYSE:AIV traded down $1.44 during trading on Friday, reaching $34.93. 4,082,666 shares of the company traded hands, compared to its average volume of 1,371,588. The firm has a market capitalization of $5.20 billion, a PE ratio of 28.87 and a beta of 0.76. Apartment Investment and Management has a 52 week low of $24.53 and a 52 week high of $55.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.76. The company's 50 day moving average is $36.62 and its two-hundred day moving average is $37.56.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks' consensus estimate of $0.61 by ($0.35). The company had revenue of $218.08 million during the quarter, compared to analyst estimates of $218.05 million. Apartment Investment and Management had a net margin of 20.09% and a return on equity of 10.05%. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. As a group, research analysts anticipate that Apartment Investment and Management will post 2.5 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its holdings in Apartment Investment and Management by 44.8% during the 1st quarter. Morgan Stanley now owns 1,160,409 shares of the real estate investment trust's stock worth $40,788,000 after acquiring an additional 359,152 shares during the last quarter. Paloma Partners Management Co increased its holdings in Apartment Investment and Management by 107.9% in the first quarter. Paloma Partners Management Co now owns 8,283 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 4,299 shares during the period. The Manufacturers Life Insurance Company raised its position in Apartment Investment and Management by 14.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 159,466 shares of the real estate investment trust's stock worth $5,605,000 after purchasing an additional 20,537 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Apartment Investment and Management by 71.1% during the 1st quarter. Treasurer of the State of North Carolina now owns 60,984 shares of the real estate investment trust's stock worth $2,144,000 after buying an additional 25,340 shares during the period. Finally, Westpac Banking Corp grew its position in shares of Apartment Investment and Management by 91.3% in the 1st quarter. Westpac Banking Corp now owns 332,453 shares of the real estate investment trust's stock valued at $11,686,000 after buying an additional 158,642 shares during the last quarter.

About Apartment Investment and Management

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 132 communities in 17 states and the District of Columbia.

Further Reading: Quantitative Easing

To view ValuEngine's full report, visit ValuEngine's official website.

Analyst Recommendations for Apartment Investment and Management (NYSE:AIV)

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