Apartment Investment and Management (NYSE:AIV) Cut to Sell at StockNews.com

StockNews.com cut shares of Apartment Investment and Management (NYSE:AIV) from a hold rating to a sell rating in a report released on Monday.

Apartment Investment and Management Stock Down 0.5%

Shares of Apartment Investment and Management stock opened at $7.96 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 4.28. The firm has a market cap of $1.13 billion, a P/E ratio of -4.60 and a beta of 1.38. Apartment Investment and Management has a fifty-two week low of $6.89 and a fifty-two week high of $9.49. The business has a 50-day moving average price of $8.15 and a 200 day moving average price of $8.56.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $52.35 million during the quarter, compared to analyst estimates of $53.64 million. Apartment Investment and Management had a negative return on equity of 68.04% and a negative net margin of 119.76%. On average, sell-side analysts forecast that Apartment Investment and Management will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apartment Investment and Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Apartment Investment and Management by 1.1% in the first quarter. Vanguard Group Inc. now owns 19,340,629 shares of the real estate investment trust’s stock valued at $170,198,000 after acquiring an additional 212,813 shares during the period. Millennium Management LLC boosted its stake in Apartment Investment and Management by 14.0% in the fourth quarter. Millennium Management LLC now owns 7,145,287 shares of the real estate investment trust’s stock valued at $64,951,000 after acquiring an additional 877,954 shares during the period. Rush Island Management LP boosted its stake in Apartment Investment and Management by 156.7% in the fourth quarter. Rush Island Management LP now owns 4,543,774 shares of the real estate investment trust’s stock valued at $41,303,000 after acquiring an additional 2,773,984 shares during the period. Irenic Capital Management LP boosted its stake in Apartment Investment and Management by 0.5% in the fourth quarter. Irenic Capital Management LP now owns 3,812,595 shares of the real estate investment trust’s stock valued at $34,656,000 after acquiring an additional 19,577 shares during the period. Finally, Land & Buildings Investment Management LLC boosted its position in shares of Apartment Investment and Management by 77.2% during the fourth quarter. Land & Buildings Investment Management LLC now owns 3,074,160 shares of the real estate investment trust’s stock worth $27,944,000 after buying an additional 1,338,921 shares during the period. 83.26% of the stock is currently owned by institutional investors and hedge funds.

About Apartment Investment and Management

Apartment Investment & Management Co operates as a real estate investment trust that engages in the acquisition, ownership, management and redevelopment of apartment properties. The company was founded in 1975 and is headquartered in Denver, CO.