Deutsche Bank Re-instates Coverage on Aimco (AIV); Valuation Call & Low Visibility
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Deutsche Bank re-instates coverage on Aimco (NYSE: AIV) with a Sell.
Deutsche analyst says, "In an effort to delever, AIV is attempting to sell roughly 18% of its portfolio into a soft market. However, the total gross proceeds from these sales, the size of a potential special dividend and subsequent share issuance, the likely reduction in earnings power, and total debt reduction are all significant unknowns. Against this backdrop and with the shares trading at a premium to our forward EV estimate, we are reinstating coverage with a Sell rating."
To see more analyst ratings on AIV Click Here.
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT), engaged in the acquisition, ownership, management and redevelopment of apartment properties.
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