State Treasurer State of Michigan Sells 1,600 Shares of Apartment Investment and Management Co (NYSE:AIV)

State Treasurer State of Michigan lowered its holdings in Apartment Investment and Management Co (NYSE:AIV) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,028 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. State Treasurer State of Michigan’s holdings in Apartment Investment and Management were worth $2,012,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vident Investment Advisory LLC purchased a new position in Apartment Investment and Management in the third quarter worth approximately $202,000. Shelton Capital Management purchased a new position in Apartment Investment and Management in the second quarter worth approximately $246,000. CAPROCK Group Inc. purchased a new position in Apartment Investment and Management in the third quarter worth approximately $251,000. Lourd Capital LLC purchased a new position in Apartment Investment and Management in the fourth quarter worth approximately $375,000. Finally, Amica Retiree Medical Trust purchased a new position in Apartment Investment and Management in the third quarter worth approximately $377,000. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Apartment Investment and Management Co (NYSE:AIV) traded down $0.11 during mid-day trading on Tuesday, reaching $39.58. 330,177 shares of the company traded hands, compared to its average volume of 1,128,464. Apartment Investment and Management Co has a 1 year low of $38.19 and a 1 year high of $46.85. The stock has a market cap of $6,210.57, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.41. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.59 and a current ratio of 0.65.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Apartment Investment and Management had a net margin of 31.19% and a return on equity of 21.25%. The firm had revenue of $250.23 million during the quarter, compared to the consensus estimate of $243.24 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Apartment Investment and Management’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts anticipate that Apartment Investment and Management Co will post 2.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be given a $0.38 dividend. This is an increase from Apartment Investment and Management’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.52 annualized dividend and a yield of 3.84%. Apartment Investment and Management’s dividend payout ratio is 77.95%.

A number of research analysts recently issued reports on AIV shares. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Raymond James Financial downgraded shares of Apartment Investment and Management from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $52.00 to $50.00 in a research report on Tuesday, December 12th. TheStreet downgraded shares of Apartment Investment and Management from a “b-” rating to a “c+” rating in a research report on Friday, November 3rd. Robert W. Baird restated a “hold” rating and set a $42.00 price objective on shares of Apartment Investment and Management in a research report on Tuesday, January 9th. Finally, BMO Capital Markets restated a “sell” rating and set a $44.00 price objective on shares of Apartment Investment and Management in a research report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.64.

In other Apartment Investment and Management news, EVP Miles Cortez sold 2,587 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $41.90, for a total value of $108,395.30. Following the transaction, the executive vice president now directly owns 102,456 shares of the company’s stock, valued at approximately $4,292,906.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa R. Cohn sold 9,694 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $39.00, for a total transaction of $378,066.00. Following the completion of the transaction, the insider now directly owns 82,139 shares in the company, valued at $3,203,421. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,534 shares of company stock valued at $979,784. 1.20% of the stock is owned by insiders.

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Apartment Investment and Management Profile

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

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

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