Deutsche Bank Re-instates Coverage on Aimco (AIV); Valuation Call & Low Visibility
AIV Hot Sheet
Rating Summary:7 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 25 | Down: 12 | New: 36
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.
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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