Apartment Investment and Management Co (AIV) was Upgraded by UBS to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $42 . Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Jul 1, 2016.
Many Wall Street Analysts have commented on Apartment Investment and Management Co. Apartment Investment and Management Co was Downgraded by SunTrust to ” Neutral” on Jun 2, 2016. Company shares were Reiterated by Canaccord Genuity on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $39 .Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $43 .
On the company’s financial health, Apartment Investment and Management Co reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $246.20 million for the quarter, 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.
Apartment Investment and Management Co opened for trading at $42.98 and hit $43.53 on the upside on Wednesday, eventually ending the session at $43.41, with a gain of 1.90% or 0.81 points. The heightened volatility saw the trading volume jump to 10,97,352 shares. Company has a market cap of $6,798 M.
In a different news, on Jun 30, 2016, Patti K Fielding (Executive Vice President) sold 10,000 shares at $43.00 per share price. According to the SEC, on Jun 2, 2016, Terry Considine (Chairman & CEO) sold 81,101 shares at $42.55 per share price. On May 27, 2016, Robert A. Miller (director) sold 4,429 shares at $42.95 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.