Apartment Investment and Mortgage (AIV) NewsBite - AIV Lower on Weak Guidance

Posted: Friday, February 06, 2009 10:52 AM EDT

Apartment Investment and Mortgage (NYSE: AIV) opened at $9.17. So far today, the stock has hit a low of $6.84 and a high of $9.17. AIV is now trading at $7.02, down $0.71 (-9.18%). Over the last 52 weeks the stock has ranged from a low of $7.01 to a high of $43.67. AIV forecast first-quarter funds from operations of 30 to 36 cents per share this morning, below analysts' estimates of 61 cents per share. AIV also forecast 2009 FFO of $1.65 to $1.95 per share, below analysts' projections of $2.45 per share. Technical indicators for the stock are neutral and S&P gives AIV a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for AIV. [ABR-Seven Summits Strategic Investments NewsBite]

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