Apartment Investment and Management Co (NYSE:AIV) Position Trimmed by Convergence Investment Partners LLC

Convergence Investment Partners LLC decreased its holdings in shares of Apartment Investment and Management Co (NYSE:AIV) by 61.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,480 shares of the real estate investment trust’s stock after selling 11,689 shares during the period. Convergence Investment Partners LLC’s holdings in Apartment Investment and Management were worth $390,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. TCG Advisors LP bought a new stake in Apartment Investment and Management during the second quarter valued at $46,000. USA Financial Portformulas Corp boosted its holdings in shares of Apartment Investment and Management by 31.3% during the second quarter. USA Financial Portformulas Corp now owns 1,103 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 263 shares during the period. Signaturefd LLC boosted its holdings in shares of Apartment Investment and Management by 52.5% during the third quarter. Signaturefd LLC now owns 1,147 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 395 shares during the period. Optimum Investment Advisors boosted its holdings in shares of Apartment Investment and Management by 22.7% during the third quarter. Optimum Investment Advisors now owns 2,699 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 500 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Apartment Investment and Management by 87,975.0% during the second quarter. Assetmark Inc. now owns 3,523 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 3,519 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Several brokerages have recently issued reports on AIV. ValuEngine downgraded shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks boosted their price target on shares of Apartment Investment and Management from $49.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Barclays set a $53.00 price target on shares of Apartment Investment and Management and gave the company a “hold” rating in a report on Friday, October 11th. Zelman & Associates raised shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Mizuho raised shares of Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $53.17.

In related news, Director Kathleen M. Nelson sold 2,400 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $50.16, for a total value of $120,384.00. Following the completion of the sale, the director now owns 44,329 shares of the company’s stock, valued at $2,223,542.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Shares of AIV opened at $54.50 on Friday. Apartment Investment and Management Co has a 1 year low of $42.06 and a 1 year high of $55.06. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 4.86 and a beta of 0.54. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a fifty day moving average of $52.45 and a 200-day moving average of $50.89.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a net margin of 98.61% and a return on equity of 49.61%. The firm had revenue of $224.20 million for the quarter, compared to analyst estimates of $224.36 million. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. Analysts predict that Apartment Investment and Management Co will post 2.48 EPS for the current year.

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

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