Apartment Investment and Management (NYSE:AIV) Shares Gap Up Following Earnings Beat

Shares of Apartment Investment and Management Company (NYSE:AIV) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.38, but opened at $5.83. Apartment Investment and Management shares last traded at $5.7350, with a volume of 1,386,935 shares changing hands.

The real estate investment trust reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $2.15. Apartment Investment and Management had a negative return on equity of 34.47% and a negative net margin of 30.59%.The firm had revenue of $35.13 million for the quarter, compared to the consensus estimate of $56.09 million. Apartment Investment and Management has set its FY 2025 guidance at 4.750-4.950 EPS.

Apartment Investment and Management Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $2.23 per share. Apartment Investment and Management’s dividend payout ratio is presently -210.42%.

Wall Street Analyst Weigh In

AIV has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Apartment Investment and Management in a report on Thursday, October 30th. Wolfe Research raised Apartment Investment and Management from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Apartment Investment and Management has an average rating of “Hold” and a consensus target price of $10.00.

Hedge Funds Weigh In On Apartment Investment and Management

A number of hedge funds have recently modified their holdings of AIV. Aberdeen Group plc boosted its holdings in shares of Apartment Investment and Management by 3.6% in the 1st quarter. Aberdeen Group plc now owns 38,912 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 1,351 shares during the period. Arizona State Retirement System raised its holdings in Apartment Investment and Management by 4.1% during the 1st quarter. Arizona State Retirement System now owns 38,495 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 1,507 shares during the period. Teacher Retirement System of Texas lifted its position in Apartment Investment and Management by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 21,189 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 1,631 shares during the last quarter. Creative Planning boosted its stake in Apartment Investment and Management by 16.4% during the second quarter. Creative Planning now owns 12,162 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,712 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Apartment Investment and Management by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 46,591 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 1,864 shares during the last quarter. 83.26% of the stock is currently owned by hedge funds and other institutional investors.

Apartment Investment and Management Price Performance

The firm has a market cap of $812.00 million, a P/E ratio of -11.93 and a beta of 1.44. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50-day simple moving average is $6.92 and its two-hundred day simple moving average is $7.78.

Apartment Investment and Management Company Profile

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.