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Downgrade Alert for Apartment Investment & Management (AIV)

By James Quinn

Apartment Investment & Management (NYSE:AIV) was downgraded from Buy to Neutral at SunTrust today. The stock closed yesterday at $41.63 on volume of 2.1 million shares, above average daily volume of 1.1 million.

In the past 52 weeks, shares of Apartment Investment & Management have traded between a low of $34.71 and a high of $43.62 and closed yesterday at $41.63, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 1.12% higher over the past week, respectively.

Apartment Investment & Management has overhead space with shares priced $41.63, or 0.8% below the average consensus analyst price target of $41.99. Apartment Investment & Management shares have support at the 50-day moving average (MA) of $40.16 and additional support at the 200-day MA of $38.64.

Apartment Investment & Management Company is a self-administered and self-managed real estate investment trust. The trust owns a geographically diversified portfolio of multifamily apartment properties in the United States, the District of Columbia, and Puerto Rico. Apartment Investment also provides property management and asset management services.

SmarTrend is tracking the current trend status for Apartment Investment & Management and will alert subscribers who have AIV in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades apartment investment & management

Ticker(s): AIV