State Treasurer State of Michigan Has $2.09 Million Stake in Apartment Investment and Management Company (AIV)

State Treasurer State of Michigan cut its position in shares of Apartment Investment and Management Company (NYSE:AIV) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,628 shares of the real estate investment trust’s stock after selling 4,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Apartment Investment and Management were worth $2,089,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Apartment Investment and Management by 86.0% during the second quarter. Renaissance Technologies LLC now owns 4,072,785 shares of the real estate investment trust’s stock valued at $175,008,000 after buying an additional 1,883,585 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Apartment Investment and Management during the second quarter valued at $37,412,000. Principal Financial Group Inc. grew its holdings in shares of Apartment Investment and Management by 10.4% during the second quarter. Principal Financial Group Inc. now owns 7,481,959 shares of the real estate investment trust’s stock valued at $321,500,000 after buying an additional 701,904 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Apartment Investment and Management by 63.3% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,665,067 shares of the real estate investment trust’s stock valued at $71,548,000 after buying an additional 645,150 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Apartment Investment and Management during the second quarter valued at $23,487,000. Institutional investors own 98.78% of the company’s stock.

In other Apartment Investment and Management news, EVP Keith M. Kimmel sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the executive vice president now owns 28,481 shares of the company’s stock, valued at approximately $1,310,126. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Terry Considine sold 111,577 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $44.01, for a total value of $4,910,503.77. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

A number of research analysts have recently weighed in on the company. Robert W. Baird reiterated a “hold” rating and set a $46.00 price target on shares of Apartment Investment and Management in a report on Tuesday, October 17th. BidaskClub raised Apartment Investment and Management from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research raised Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, July 24th. Canaccord Genuity set a $50.00 price target on Apartment Investment and Management and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets reaffirmed a “sell” rating on shares of Apartment Investment and Management in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $47.40.

Shares of Apartment Investment and Management Company (NYSE:AIV) opened at $45.13 on Friday. Apartment Investment and Management Company has a 12 month low of $39.66 and a 12 month high of $46.85. The firm has a market capitalization of $7,086.45, a P/E ratio of 18.65, a PEG ratio of 2.68 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.35.

Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.51). The business had revenue of $254.64 million during the quarter, compared to analyst estimates of $249.17 million. Apartment Investment and Management had a return on equity of 13.81% and a net margin of 21.36%. During the same period in the previous year, the firm earned $0.54 earnings per share. sell-side analysts predict that Apartment Investment and Management Company will post 2.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, November 16th. Apartment Investment and Management’s dividend payout ratio is 109.92%.

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Apartment Investment and Management Company 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.

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

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