LS Investment Advisors LLC boosted its position in shares of Apartment Investment and Management Company (NYSE:AIV) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,615 shares of the real estate investment trust’s stock after buying an additional 523 shares during the period. LS Investment Advisors LLC’s holdings in Apartment Investment and Management were worth $284,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIV. Kentucky Retirement Systems purchased a new position in shares of Apartment Investment and Management during the fourth quarter worth $517,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Apartment Investment and Management during the fourth quarter worth $231,000. Pensionfund Sabic boosted its position in shares of Apartment Investment and Management by 6.9% in the first quarter. Pensionfund Sabic now owns 15,500 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 1,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Apartment Investment and Management by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 136,108 shares of the real estate investment trust’s stock worth $6,036,000 after buying an additional 4,251 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Apartment Investment and Management by 10.6% in the first quarter. Quadrant Capital Group LLC now owns 2,606 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.
Apartment Investment and Management Company (AIV) remained flat at $45.53 during mid-day trading on Friday. The stock had a trading volume of 150,388 shares. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 35.85 and a beta of 0.44. The stock’s 50 day moving average is $43.72 and its 200-day moving average is $44.13. Apartment Investment and Management Company has a 1-year low of $39.66 and a 1-year high of $47.91.
Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $246.24 million for the quarter, compared to analyst estimates of $240.78 million. Apartment Investment and Management had a return on equity of 12.46% and a net margin of 20.64%. Apartment Investment and Management’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, equities research analysts predict that Apartment Investment and Management Company will post $0.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, August 16th. Apartment Investment and Management’s payout ratio is 113.39%.
AIV has been the subject of a number of research analyst reports. Barclays PLC raised their price target on Apartment Investment and Management from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Mizuho cut Apartment Investment and Management from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $45.00 in a research report on Monday, May 1st. Canaccord Genuity dropped their price objective on Apartment Investment and Management from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 2nd. Zacks Investment Research cut Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets reiterated a “sell” rating and set a $42.00 price objective on shares of Apartment Investment and Management in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $46.88.
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.
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