Northern Trust Corp Sells 435,279 Shares of Apartment Investment and Management Co (NYSE:AIV)

Northern Trust Corp decreased its position in Apartment Investment and Management Co (NYSE:AIV) by 16.7% in the 1st quarter, HoldingsChannel reports. The fund owned 2,175,154 shares of the real estate investment trust’s stock after selling 435,279 shares during the period. Northern Trust Corp’s holdings in Apartment Investment and Management were worth $109,388,000 as of its most recent filing with the Securities & Exchange Commission.

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

Several equities research analysts have recently weighed in on AIV shares. Wells Fargo & Co reiterated a “buy” rating on shares of Apartment Investment and Management in a research note on Monday, March 4th. BMO Capital Markets reiterated a “hold” rating and issued a $54.00 price objective on shares of Apartment Investment and Management in a research note on Monday, March 25th. SunTrust Banks lowered Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a research note on Monday, February 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Barclays reiterated a “hold” rating and issued a $51.00 price objective on shares of Apartment Investment and Management in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $49.43.

In related news, insider Miles Cortez sold 6,205 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total transaction of $312,111.50. Following the sale, the insider now directly owns 101,876 shares in the company, valued at approximately $5,124,362.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is owned by corporate insiders.

NYSE AIV opened at $51.38 on Friday. The company has a market cap of $7.64 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 3.90 and a beta of 0.59. Apartment Investment and Management Co has a one year low of $40.69 and a one year high of $52.00. 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 (NYSE:AIV) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The business had revenue of $230.24 million for the quarter, compared to analyst estimates of $226.53 million. Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. Apartment Investment and Management’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. Analysts forecast that Apartment Investment and Management Co will post 2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.56 dividend on an annualized basis and a yield of 3.04%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 61.18%.

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

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