Apartment Investment and Management Company (AIV - Free Report) or Aimco was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $34.98 to $37.45 in the past one-month time frame.
The upmove came after the company's announcement of its decision to separate its business into two separate and distinct publicly traded companies, Apartment Income REIT and Aimco.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Aimco. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Aimco currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the REIT and Equity Trust - Residential industry is Spirit Realty Capital, Inc. (SRC - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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