The Whittier Trust Co. Maintains Stake in Apartment Investment and Management Co. (AIV)

The Whittier Trust Co. Maintains Stake in Apartment Investment and Management Co. (AIV)

Whittier Trust Co. held its stake in Apartment Investment and Management Co. (NYSE:AIV) during the second quarter, Holdings Channel reports. The institutional investor owned 5,729 shares of the real estate investment trust’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Apartment Investment and Management were worth $253,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in 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 worth $67,864,000 after buying an additional 703,454 shares in the last quarter. Shinko Asset Management Co. Ltd. increased its position in 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 worth $16,793,000 after buying an additional 373,173 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 worth $81,180,000 after buying an additional 276,691 shares during the last quarter. Renaissance Technologies LLC increased its position in 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 worth $61,504,000 after buying an additional 270,700 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Apartment Investment and Management during the second quarter worth about $5,260,000.

Apartment Investment and Management Co. (NYSE:AIV) traded down 0.74% during midday trading on Friday, hitting $42.79. 1,273,528 shares of the stock were exchanged. Apartment Investment and Management Co. has a 12 month low of $34.97 and a 12 month high of $47.91. The company has a market cap of $6.70 billion, a PE ratio of 20.17 and a beta of 0.52. The firm’s 50 day moving average price is $44.73 and its 200 day moving average price is $43.27.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Apartment Investment and Management had a net margin of 34.56% and a return on equity of 20.95%. The firm earned $242.87 million during the quarter, compared to analysts’ expectations of $240.17 million. During the same period in the previous year, the company earned $0.56 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Apartment Investment and Management Co. will post $2.31 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on AIV shares. Mizuho downgraded shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $48.00 in a research note on Monday, August 1st. Canaccord Genuity reissued a “hold” rating on shares of Apartment Investment and Management in a research note on Wednesday, June 29th. Zacks Investment Research downgraded shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Citigroup Inc. downgraded shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and increased their price target for the stock from $43.00 to $48.00 in a research note on Monday, July 18th. Finally, Barclays PLC increased their price target on shares of Apartment Investment and Management from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.44.

In other Apartment Investment and Management news, insider Miles Cortez sold 7,000 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $45.25, for a total value of $316,750.00. Following the completion of the sale, the insider now directly owns 116,505 shares of the company’s stock, valued at approximately $5,271,851.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Terry Considine sold 176,000 shares of the business’s stock in a transaction dated 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. 1.71% of the stock is currently owned by company insiders.

Apartment Investment and Management Company Profile

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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