Apartment Investment and Management Company (NYSE:AIV) Given “Sell” Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their sell rating on shares of Apartment Investment and Management Company (NYSE:AIV) in a research note issued to investors on Friday, October 27th.

“OAK reported 3Q17 $0.67 of adjusted net income (ANI) per share, comfortably beating our and consensus’ estimate of $0.50 and $0.56. The beat was broad-based: Fee-related earnings (FRE) of $60M came in ahead of our $49M expectation on better management fees and unusually low expenses. Incentive income of $54M was essentially in line, but the better FRE and better cash from fund investments all led to distributable earnings of $0.74 per share. As far as FRE is concerned, we wouldn’t take this quarter’s expense level as a go-forward run rate and, as usual, management estimated that 4Q17 incentive income would likely come in a bit lighter than 3Q’s.”,” BMO Capital Markets’ analyst wrote.

Several other research firms have also issued reports on AIV. Zacks Investment Research lowered Apartment Investment and Management from a buy rating to a hold rating in a research note on Thursday, July 27th. Robert W. Baird restated a hold rating and set a $46.00 target price on shares of Apartment Investment and Management in a report on Tuesday, September 12th. BidaskClub cut Apartment Investment and Management from a hold rating to a sell rating in a report on Wednesday, July 12th. JMP Securities upgraded Apartment Investment and Management from a market perform rating to an outperform rating and set a $52.00 price target on the stock in a report on Monday, July 10th. Finally, UBS AG cut Apartment Investment and Management from a buy rating to a neutral rating and set a $48.00 price target on the stock. in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $47.40.

Apartment Investment and Management (AIV) opened at $45.13 on Friday. Apartment Investment and Management has a 1-year low of $39.66 and a 1-year high of $46.85. The company has a market capitalization of $7,086.46, a P/E ratio of 18.65, a PEG ratio of 2.68 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.35.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.51). The business had revenue of $254.64 million for the quarter, compared to analyst estimates of $249.17 million. Apartment Investment and Management had a return on equity of 13.81% and a net margin of 21.36%. During the same quarter last year, the firm earned $0.54 earnings per share. equities research analysts anticipate that Apartment Investment and Management will post 2.45 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 17th will be paid a $0.36 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.44 annualized dividend and a yield of 3.19%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 109.92%.

In other Apartment Investment and Management news, CEO Terry Considine sold 111,577 shares of Apartment Investment and Management stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $44.01, for a total value of $4,910,503.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Keith M. Kimmel sold 10,000 shares of Apartment Investment and Management stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,481 shares of the company’s stock, valued at $1,310,126. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. ING Groep NV raised its holdings in shares of Apartment Investment and Management by 0.4% during the 2nd quarter. ING Groep NV now owns 8,048 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 29 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Apartment Investment and Management by 0.5% in the 2nd quarter. CIBC Asset Management Inc now owns 13,451 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 69 shares in the last quarter. Utah Retirement Systems increased its holdings in Apartment Investment and Management by 0.3% in the 2nd quarter. Utah Retirement Systems now owns 35,735 shares of the real estate investment trust’s stock worth $1,535,000 after purchasing an additional 96 shares in the last quarter. Sentry Investment Management LLC increased its holdings in Apartment Investment and Management by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 12,340 shares of the real estate investment trust’s stock worth $530,000 after purchasing an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Apartment Investment and Management by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 76,133 shares of the real estate investment trust’s stock worth $3,271,000 after purchasing an additional 233 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

About Apartment Investment and Management

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

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

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