546,714 Shares in Apartment Investment and Management Co (NYSE:AIV) Bought by Long Pond Capital LP

Long Pond Capital LP acquired a new position in shares of Apartment Investment and Management Co (NYSE:AIV) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 546,714 shares of the real estate investment trust’s stock, valued at approximately $27,401,000.

Other hedge funds have also made changes to their positions in the company. TCG Advisors LP bought a new stake in shares of Apartment Investment and Management during the 2nd quarter worth $46,000. USA Financial Portformulas Corp lifted its position in shares of Apartment Investment and Management by 31.3% during the 2nd quarter. USA Financial Portformulas Corp now owns 1,103 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 263 shares during the last quarter. Sawtooth Solutions LLC bought a new stake in shares of Apartment Investment and Management during the 1st quarter worth $206,000. Advisor Partners LLC bought a new stake in shares of Apartment Investment and Management during the 2nd quarter worth $206,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Apartment Investment and Management during the 1st quarter worth $212,000. Institutional investors and hedge funds own 95.68% of the company’s stock.

In other news, Director Kathleen M. Nelson sold 2,400 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $50.16, for a total transaction of $120,384.00. Following the completion of the transaction, the director now directly owns 44,329 shares in the company, valued at $2,223,542.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by company insiders.

Apartment Investment and Management stock opened at $50.82 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $7.56 billion, a PE ratio of 19.93, a P/E/G ratio of 3.30 and a beta of 0.56. Apartment Investment and Management Co has a 12 month low of $41.73 and a 12 month high of $52.49. The stock has a 50-day moving average price of $50.53 and a two-hundred day moving average price of $50.32.

Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The firm had revenue of $224.20 million during the quarter, compared to the consensus estimate of $224.36 million. Apartment Investment and Management had a net margin of 98.61% and a return on equity of 49.61%. Apartment Investment and Management’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, analysts predict that Apartment Investment and Management Co will post 2.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 3.07%. Apartment Investment and Management’s dividend payout ratio is presently 61.18%.

AIV has been the subject of several research reports. Barclays dropped their target price on Apartment Investment and Management from $53.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Mizuho upgraded Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, August 6th. SunTrust Banks increased their target price on Apartment Investment and Management from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. BMO Capital Markets upgraded Apartment Investment and Management from a “market perform” rating to an “outperform” rating and increased their target price for the company from $56.00 to $58.00 in a research report on Friday, September 6th. Finally, ValuEngine downgraded Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.83.

Apartment Investment and Management Company Profile

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.

Further Reading: Call Option Volume

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Institutional Ownership by Quarter for Apartment Investment and Management (NYSE:AIV)

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