AMP Capital Investors Ltd raised its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 31.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,616 shares of the real estate investment trust’s stock after acquiring an additional 20,935 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.06% of Apartment Investment and Management worth $3,786,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AIV. Vident Investment Advisory LLC bought a new stake in Apartment Investment and Management during the 3rd quarter valued at $202,000. Allianz Asset Management GmbH acquired a new stake in shares of Apartment Investment and Management in the 4th quarter worth $266,000. MANA Advisors LLC acquired a new stake in shares of Apartment Investment and Management in the 4th quarter worth $288,000. Lourd Capital LLC acquired a new stake in shares of Apartment Investment and Management in the 4th quarter worth $375,000. Finally, Amica Retiree Medical Trust acquired a new stake in shares of Apartment Investment and Management in the 3rd quarter worth $377,000. 98.30% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on AIV. BMO Capital Markets reissued a “sell” rating and issued a $44.00 price objective on shares of Apartment Investment and Management in a research report on Monday, November 27th. Barclays reissued a “buy” rating and issued a $48.00 price objective on shares of Apartment Investment and Management in a research report on Tuesday, March 13th. Zacks Investment Research raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Robert W. Baird reissued a “hold” rating and issued a $42.00 price objective on shares of Apartment Investment and Management in a research report on Tuesday, January 9th. Finally, JMP Securities cut Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Apartment Investment and Management has an average rating of “Hold” and a consensus price target of $46.55.
AIV stock opened at $40.11 on Wednesday. The stock has a market capitalization of $6,401.77, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.84 and a beta of 0.47. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.65 and a quick ratio of 0.65. Apartment Investment and Management Co has a 52 week low of $37.97 and a 52 week high of $46.72.
Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The company had revenue of $250.23 million during the quarter, compared to analyst estimates of $243.24 million. Apartment Investment and Management had a return on equity of 21.25% and a net margin of 31.19%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. analysts forecast that Apartment Investment and Management Co will post 2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 16th were paid a $0.38 dividend. This is a positive change from Apartment Investment and Management’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.52 dividend on an annualized basis and a yield of 3.79%. Apartment Investment and Management’s dividend payout ratio (DPR) is 77.95%.
In related news, EVP Miles Cortez sold 2,587 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $41.90, for a total value of $108,395.30. Following the completion of the transaction, the executive vice president now owns 102,456 shares in the company, valued at approximately $4,292,906.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa R. Cohn sold 9,694 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $39.00, for a total value of $378,066.00. Following the completion of the transaction, the insider now owns 82,139 shares of the company’s stock, valued at approximately $3,203,421. The disclosure for this sale can be found here. Insiders sold a total of 15,970 shares of company stock valued at $641,143 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
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Apartment Investment and Management Profile
Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.
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