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Upgrade Alert for Apartment Investment & Management (AIV)

By Nick Russo

Apartment Investment & Management (NYSE:AIV) was upgraded from Neutral to Buy at Mizuho today. The stock closed yesterday at $44.07 on volume of 1.8 million shares, above average daily volume of 1.1 million.

Over the past year, Apartment Investment & Management has traded in a range of $34.71 to $47.91 and closed yesterday at $44.07, 27% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Apartment Investment & Management (NYSE:AIV) is currently priced 4.7% above its 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 recommended that its subscribers protect gains by selling shares of Apartment Investment & Management on October 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $45.19. Since that call, shares of Apartment Investment & Management have fallen 5.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades apartment investment & management

Ticker(s): AIV