Westpac Banking Corp Has $16.33 Million Holdings in Apartment Investment and Management Co (NYSE:AIV)

Westpac Banking Corp cut its stake in Apartment Investment and Management Co (NYSE:AIV) by 2.6% in the first quarter, HoldingsChannel.com reports. The fund owned 324,772 shares of the real estate investment trust’s stock after selling 8,646 shares during the period. Westpac Banking Corp’s holdings in Apartment Investment and Management were worth $16,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AIV. Norges Bank acquired a new position in Apartment Investment and Management in the fourth quarter valued at approximately $72,158,000. AJO LP raised its stake in shares of Apartment Investment and Management by 113.6% during the 1st quarter. AJO LP now owns 1,708,262 shares of the real estate investment trust’s stock worth $85,908,000 after buying an additional 908,403 shares during the period. Millennium Management LLC raised its stake in shares of Apartment Investment and Management by 1,121.4% during the 4th quarter. Millennium Management LLC now owns 829,481 shares of the real estate investment trust’s stock worth $36,398,000 after buying an additional 761,569 shares during the period. Deutsche Bank AG raised its stake in shares of Apartment Investment and Management by 172.3% during the 4th quarter. Deutsche Bank AG now owns 958,789 shares of the real estate investment trust’s stock worth $42,066,000 after buying an additional 606,725 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Apartment Investment and Management by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 8,204,694 shares of the real estate investment trust’s stock worth $412,614,000 after buying an additional 589,211 shares during the period. 96.19% of the stock is owned by institutional investors.

Shares of AIV traded up $0.27 during trading hours on Wednesday, hitting $51.41. 313,457 shares of the stock were exchanged, compared to its average volume of 1,166,535. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.68 and a current ratio of 0.68. Apartment Investment and Management Co has a 12-month low of $40.69 and a 12-month high of $52.00. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 3.90 and a beta of 0.59.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. The firm had revenue of $230.24 million during the quarter, compared to analysts’ expectations of $226.53 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that Apartment Investment and Management Co will post 2.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, May 16th. Apartment Investment and Management’s payout ratio is currently 61.18%.

AIV has been the subject of several research analyst reports. Barclays reaffirmed a “hold” rating and set a $51.00 target price on shares of Apartment Investment and Management in a research note on Tuesday, April 16th. Zacks Investment Research cut Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. BMO Capital Markets reiterated a “hold” rating and set a $54.00 price target on shares of Apartment Investment and Management in a research report on Monday, March 25th. SunTrust Banks cut Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research report on Monday, February 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Apartment Investment and Management in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.43.

In other Apartment Investment and Management news, insider Miles Cortez sold 6,205 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total value of $312,111.50. Following the completion of the sale, the insider now directly owns 101,876 shares in the company, valued at approximately $5,124,362.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.83% of the stock is owned by corporate insiders.

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Apartment Investment and Management Profile

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.

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Want to see what other hedge funds are holding AIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apartment Investment and Management Co (NYSE:AIV).

Institutional Ownership by Quarter for Apartment Investment and Management (NYSE:AIV)

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