On 3/28/14, Apartment Investment & Management Co.'s 7.00% Class Z Cumulative Preferred Stock (AIV.PRZ) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 4/15/14. As a percentage of AIV.PRZ's recent share price of $25.32, this dividend works out to approximately 1.73%, so look for shares of AIV.PRZ to trade 1.73% lower — all else being equal — when AIV.PRZ shares open for trading on 3/28/14. On an annualized basis, the current yield is approximately 6.92%, which compares to an average yield of 7.31% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, AIV.PRZ was trading at a 1.28% premium to its liquidation preference amount. The chart below shows the one year performance of AIV.PRZ shares, versus AIV:
Below is a dividend history chart for AIV.PRZ, showing historical dividends prior to the most recent $0.4375 on Apartment Investment & Management Co.'s 7.00% Class Z Cumulative Preferred Stock:
According to the ETF Finder at ETF Channel, Apartment Investment & Management Co. (AIV) makes up 2.82% of the iShares Residential Real Estate Capped ETF (REZ) which is trading lower by about 0.4% on the day Wednesday.