Apartment Investment and Management (NYSE:AIV) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Apartment Investment and Management (NYSE:AIV) posted its earnings results on Wednesday. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02, RTT News reports. Apartment Investment and Management had a negative return on equity of 30.04% and a negative net margin of 88.87%. The company had revenue of $50.20 million for the quarter, compared to analysts’ expectations of $49.85 million. Apartment Investment and Management updated its FY 2024 guidance to -0.500–0.400 EPS.

Apartment Investment and Management Price Performance

Shares of NYSE AIV traded down $0.06 during trading on Thursday, hitting $8.18. The company had a trading volume of 978,084 shares, compared to its average volume of 1,006,193. The company has a market cap of $1.18 billion, a P/E ratio of -6.99 and a beta of 1.30. Apartment Investment and Management has a 52 week low of $5.63 and a 52 week high of $8.93. The business’s 50-day moving average is $7.90 and its 200 day moving average is $7.45. The company has a debt-to-equity ratio of 2.73, a quick ratio of 2.18 and a current ratio of 2.18.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AIV. TheStreet upgraded Apartment Investment and Management from a “d+” rating to a “c-” rating in a research report on Tuesday, January 16th. StockNews.com cut Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Monday, February 26th.

About Apartment Investment and Management

Aimco is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Aimco's mission is to make real estate investments where outcomes are enhanced through our human capital so that substantial value is created for investors, teammates, and the communities in which we operate.