Trade Report: The LMR Partners LLP Reduces stake in Apartment Investment and Management Co. (AIV)

The LMR Partners LLP Reduces stake in Apartment Investment and Management Co. (AIV)

LMR Partners LLP reduced its stake in Apartment Investment and Management Co. (NYSE:AIV) by 63.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,906 shares of the real estate investment trust’s stock after selling 10,146 shares during the period. LMR Partners LLP’s holdings in Apartment Investment and Management were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIV. American Century Companies Inc. raised its position in shares of Apartment Investment and Management by 84.4% in the second quarter. American Century Companies Inc. now owns 1,536,779 shares of the real estate investment trust’s stock valued at $67,864,000 after buying an additional 703,454 shares during the period. Shinko Asset Management Co. Ltd. raised its position in shares of Apartment Investment and Management by 5,256.0% in the second quarter. Shinko Asset Management Co. Ltd. now owns 380,273 shares of the real estate investment trust’s stock valued at $16,793,000 after buying an additional 373,173 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Apartment Investment and Management by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,941,167 shares of the real estate investment trust’s stock valued at $81,180,000 after buying an additional 276,691 shares during the period. Renaissance Technologies LLC raised its position in shares of Apartment Investment and Management by 22.6% in the first quarter. Renaissance Technologies LLC now owns 1,470,685 shares of the real estate investment trust’s stock valued at $61,504,000 after buying an additional 270,700 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Apartment Investment and Management during the second quarter valued at about $5,260,000.

Shares of Apartment Investment and Management Co. (NYSE:AIV) traded down 0.74% during trading on Friday, hitting $42.79. 1,273,528 shares of the stock traded hands. The firm’s 50-day moving average price is $44.67 and its 200-day moving average price is $43.29. Apartment Investment and Management Co. has a 12 month low of $34.97 and a 12 month high of $47.91. The stock has a market cap of $6.70 billion, a PE ratio of 20.17 and a beta of 0.52.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The firm had revenue of $242.87 million for the quarter, compared to the consensus estimate of $240.17 million. Apartment Investment and Management had a net margin of 34.56% and a return on equity of 20.95%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. Analysts anticipate that Apartment Investment and Management Co. will post $2.31 EPS for the current year.

AIV has been the subject of several research reports. Mizuho lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and upped their target price for the stock from $47.00 to $48.00 in a research report on Monday, August 1st. Canaccord Genuity reiterated a “hold” rating on shares of Apartment Investment and Management in a research report on Wednesday, June 29th. Zacks Investment Research lowered shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Citigroup Inc. lowered shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $48.00 in a research report on Monday, July 18th. Finally, Barclays PLC upped their target price on shares of Apartment Investment and Management from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.44.

In related news, CFO Paul Beldin sold 4,218 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.67, for a total transaction of $192,636.06. Following the completion of the transaction, the chief financial officer now directly owns 34,771 shares of the company’s stock, valued at $1,587,991.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Terry Considine sold 176,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $45.29, for a total transaction of $7,971,040.00. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

About Apartment Investment and Management

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust. The Company, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. Its segments include conventional real estate and affordable real estate.

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