Trading Report: Today, AT Bancorp Takes Position in Apartment Investment and Management Co. (AIV)

Today, AT Bancorp Takes Position in Apartment Investment and Management Co. (AIV)

AT Bancorp acquired a new position in Apartment Investment and Management Co. (NYSE:AIV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,285 shares of the real estate investment trust’s stock, valued at approximately $1,850,000.

Several other hedge funds have also recently made changes to their positions in AIV. NEXT Financial Group Inc increased its stake in shares of Apartment Investment and Management by 1.7% in the second quarter. NEXT Financial Group Inc now owns 2,913 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 50 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Apartment Investment and Management during the second quarter worth approximately $223,000. Conning Inc. increased its stake in shares of Apartment Investment and Management by 2.1% in the second quarter. Conning Inc. now owns 5,378 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 110 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Apartment Investment and Management by 9.8% in the third quarter. Raymond James Trust N.A. now owns 5,900 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 525 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Apartment Investment and Management during the second quarter worth approximately $279,000.

Apartment Investment and Management Co. (NYSE:AIV) traded up 1.56% during midday trading on Monday, reaching $41.70. The company had a trading volume of 1,428,417 shares. The firm has a 50-day moving average of $42.55 and a 200-day moving average of $43.58. The stock has a market cap of $6.54 billion, a P/E ratio of 20.16 and a beta of 0.45. Apartment Investment and Management Co. has a 12 month low of $34.97 and a 12 month high of $47.91.

Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Thursday, October 27th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by $0.01. Apartment Investment and Management had a net margin of 33.39% and a return on equity of 19.95%. The firm earned $244.12 million during the quarter, compared to analyst estimates of $239.45 million. During the same period in the previous year, the company posted $0.57 EPS. Apartment Investment and Management’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Apartment Investment and Management Co. will post $2.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Friday, November 18th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, November 16th. Apartment Investment and Management’s payout ratio is 64.08%.

A number of brokerages have commented on AIV. Zacks Investment Research downgraded Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. JMP Securities downgraded Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 20th. JPMorgan Chase & Co. restated a “hold” rating and set a $45.00 target price on shares of Apartment Investment and Management in a research report on Wednesday, November 16th. Canaccord Genuity raised their target price on Apartment Investment and Management from $41.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Finally, Mizuho upgraded Apartment Investment and Management from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $49.00 in a research report on Monday, October 31st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Apartment Investment and Management has a consensus rating of “Hold” and a consensus target price of $45.78.

In other news, insider Keith M. Kimmel sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $39.81, for a total value of $119,430.00. Following the transaction, the insider now owns 35,718 shares of the company’s stock, valued at $1,421,933.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.71% of the stock is owned by 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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