Apartment Investment and Management Co (NYSE:AIV) announced a quarterly dividend on Wednesday, July 29th, RTT News reports. Stockholders of record on Friday, August 14th will be paid a dividend of 0.41 per share by the real estate investment trust on Friday, August 28th. This represents a $1.64 annualized dividend and a dividend yield of 4.40%.
Apartment Investment and Management has increased its dividend by an average of 14.6% annually over the last three years and has raised its dividend every year for the last 8 years. Apartment Investment and Management has a dividend payout ratio of 400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apartment Investment and Management to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 65.9%.
Shares of AIV stock opened at $37.29 on Thursday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 9.35 and a beta of 0.85. Apartment Investment and Management has a one year low of $24.53 and a one year high of $55.68. The company’s fifty day moving average price is $37.88 and its 200-day moving average price is $41.80. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.07 and a quick ratio of 1.07.
AIV has been the subject of several research analyst reports. Zelman & Associates cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Friday, July 17th. SunTrust Banks raised shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and raised their target price for the company from $43.00 to $44.00 in a research note on Thursday, June 18th. Citigroup cut their target price on shares of Apartment Investment and Management from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Mizuho cut shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, May 19th. Finally, Bank of America cut shares of Apartment Investment and Management from a “neutral” rating to an “underperform” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Apartment Investment and Management has a consensus rating of “Hold” and a consensus price target of $47.50.
Apartment Investment and Management Company Profile
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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