Brokerages expect Apartment Investment and Management Co (NYSE:AIV) to report $227.23 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Apartment Investment and Management’s earnings, with estimates ranging from $222.32 million to $229.00 million. Apartment Investment and Management posted sales of $242.48 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that Apartment Investment and Management will report full year sales of $908.96 million for the current year, with estimates ranging from $900.00 million to $913.07 million. For the next fiscal year, analysts forecast that the business will report sales of $932.96 million, with estimates ranging from $921.58 million to $950.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Apartment Investment and Management.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a return on equity of 49.61% and a net margin of 98.61%. The business had revenue of $224.20 million during the quarter, compared to the consensus estimate of $224.36 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis.

AIV has been the topic of a number of analyst reports. Barclays set a $53.00 price objective on shares of Apartment Investment and Management and gave the company a “hold” rating in a research report on Friday, October 11th. BMO Capital Markets upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $58.00 in a research report on Friday, September 6th. Zelman & Associates upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Mizuho upgraded shares of Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, August 6th. Finally, SunTrust Banks boosted their price objective on shares of Apartment Investment and Management from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.17.

In other news, Director Kathleen M. Nelson sold 2,400 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $50.16, for a total value of $120,384.00. Following the transaction, the director now directly owns 44,329 shares in the company, valued at $2,223,542.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Apartment Investment and Management by 5.7% in the first quarter. FMR LLC now owns 6,614,021 shares of the real estate investment trust’s stock worth $332,619,000 after purchasing an additional 358,290 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Apartment Investment and Management by 191.5% in the second quarter. Nuveen Asset Management LLC now owns 1,852,566 shares of the real estate investment trust’s stock worth $92,850,000 after acquiring an additional 1,217,071 shares during the period. Morgan Stanley lifted its stake in Apartment Investment and Management by 43.2% in the second quarter. Morgan Stanley now owns 1,815,925 shares of the real estate investment trust’s stock worth $91,014,000 after acquiring an additional 547,576 shares during the period. Bank of New York Mellon Corp lifted its stake in Apartment Investment and Management by 12.5% in the second quarter. Bank of New York Mellon Corp now owns 1,707,843 shares of the real estate investment trust’s stock worth $85,597,000 after acquiring an additional 189,955 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its stake in Apartment Investment and Management by 1.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,430,382 shares of the real estate investment trust’s stock worth $74,580,000 after acquiring an additional 15,100 shares during the period. Hedge funds and other institutional investors own 95.72% of the company’s stock.

AIV stock traded up $0.33 during mid-day trading on Friday, reaching $53.93. 518,762 shares of the stock traded hands, compared to its average volume of 1,117,184. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.22 and a current ratio of 0.22. Apartment Investment and Management has a one year low of $41.98 and a one year high of $53.98. The stock has a market capitalization of $7.97 billion, a PE ratio of 21.15, a PEG ratio of 4.76 and a beta of 0.54. The business has a 50-day moving average price of $51.82 and a two-hundred day moving average price of $50.72.

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.

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Earnings History and Estimates for Apartment Investment and Management (NYSE:AIV)

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