Apartment Investment and Management Co (AIV) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.55. The company posted revenue of $246.20 million in the period, compared to analysts expectations of $239.06 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Many Wall Street Analysts have commented on Apartment Investment and Management Co. Robert W. Baird Downgraded Apartment Investment and Management Co on Apr 13, 2016 to ” Neutral”, Price Target of the shares are set at $40.Apartment Investment and Management Co was Upgraded by Mizuho to ” Buy” on Mar 21, 2016. Shares were Reiterated by Canaccord Genuity on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 39 from a previous price target of $41 .
Apartment Investment and Management Co closed down -0.37 points or -0.91% at $40.23 with 13,60,827 shares getting traded on Wednesday. Post opening the session at $40.35, the shares hit an intraday low of $39.685 and an intraday high of $40.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 9, 2016, James N Bailey (director) sold 25,087 shares at $38.44 per share price. According to the SEC, on Feb 1, 2016, Miles Cortez (Executive Vice President) sold 1,403 shares at $38.52 per share price. On Feb 1, 2016, Lisa R Cohn (Executive Vice President) sold 2,308 shares at $38.84 per share price, according to the Form-4 filing with the securities and exchange commission.
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). The Company operates through two segments: conventional real estate and affordable real estate. As of December 31 2014 the Company’s conventional portfolio consisted of 144 apartment communities with 43393 apartment homes in which it held an average ownership of approximately 97%. It also operates a portfolio of affordable apartment communities which consists of apartments with rents that are generally paid in whole or part by a government agency. As of December 31 2014 its affordable portfolio consisted of 59 apartment communities with 8943 apartment homes in which it held an average ownership of approximately 93%. Aimco through its wholly owned subsidiaries AIMCO-GP Inc. and AIMCO-LP Trust owns the ownership interests in the Aimco Operating Partnership.