Trading Report: Today, Public Employees Retirement Association of Colorado Reduces Position in Apartment Investment and Management Co. (AIV)

Today, Public Employees Retirement Association of Colorado Reduces Position in Apartment Investment and Management Co. (AIV)

Public Employees Retirement Association of Colorado cut its stake in shares of Apartment Investment and Management Co. (NYSE:AIV) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,528 shares of the real estate investment trust’s stock after selling 2,613 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Apartment Investment and Management were worth $1,631,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AIV. NEXT Financial Group Inc raised its position 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 valued at $128,000 after buying an additional 50 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Apartment Investment and Management during the second quarter valued at approximately $223,000. Conning Inc. raised its position 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 valued at $237,000 after buying an additional 110 shares during the period. Raymond James Trust N.A. raised its position 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 valued at $270,000 after buying an additional 525 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Apartment Investment and Management during the second quarter valued at approximately $279,000.

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

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.01. The company had revenue of $244.12 million for the quarter, compared to analysts’ expectations of $239.45 million. Apartment Investment and Management had a return on equity of 19.95% and a net margin of 33.39%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. Equities research analysts anticipate that Apartment Investment and Management Co. will post $2.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a 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%.

AIV has been the topic of several recent analyst reports. Zacks Investment Research lowered Apartment Investment and Management from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Mizuho lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and upped their price target for the company from $47.00 to $48.00 in a research note on Monday, August 1st. Canaccord Genuity upped their price target on Apartment Investment and Management from $41.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $45.00 price target on shares of Apartment Investment and Management in a research note on Wednesday, November 16th. Finally, JMP Securities lowered Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 20th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Apartment Investment and Management presently has a consensus rating of “Hold” and an average target price of $45.78.

In other news, insider Keith M. Kimmel sold 3,000 shares of Apartment Investment and Management stock in a transaction 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 completion of the sale, the insider now owns 35,718 shares of the company’s stock, valued at $1,421,933.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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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