Westpac Banking Corp Has $17.89 Million Holdings in Apartment Investment and Management Co (NYSE:AIV)

Westpac Banking Corp increased its holdings in shares of Apartment Investment and Management Co (NYSE:AIV) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 356,953 shares of the real estate investment trust’s stock after buying an additional 32,181 shares during the quarter. Westpac Banking Corp owned 0.24% of Apartment Investment and Management worth $17,890,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Apartment Investment and Management by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 8,204,694 shares of the real estate investment trust’s stock worth $412,614,000 after buying an additional 589,211 shares during the period. FMR LLC raised its stake in Apartment Investment and Management by 5.7% during the 1st quarter. FMR LLC now owns 6,614,021 shares of the real estate investment trust’s stock worth $332,619,000 after buying an additional 358,290 shares during the period. AJO LP raised its stake in Apartment Investment and Management by 113.6% during the 1st quarter. AJO LP now owns 1,708,262 shares of the real estate investment trust’s stock worth $85,908,000 after buying an additional 908,403 shares during the period. WINTON GROUP Ltd raised its stake in Apartment Investment and Management by 33.8% during the 2nd quarter. WINTON GROUP Ltd now owns 854,663 shares of the real estate investment trust’s stock worth $42,836,000 after buying an additional 215,687 shares during the period. Finally, Hexavest Inc. acquired a new stake in Apartment Investment and Management during the 2nd quarter worth $22,138,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Miles Cortez sold 6,205 shares of Apartment Investment and Management stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total transaction of $312,111.50. Following the completion of the transaction, the insider now owns 101,876 shares in the company, valued at $5,124,362.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.83% of the company’s stock.

Shares of NYSE AIV traded down $0.46 during mid-day trading on Tuesday, hitting $50.50. The company had a trading volume of 90,326 shares, compared to its average volume of 1,075,317. The company has a market cap of $7.56 billion, a P/E ratio of 19.84, a PEG ratio of 3.82 and a beta of 0.57. The company has a 50-day moving average price of $50.54. The company has a quick ratio of 0.68, a current ratio of 0.22 and a debt-to-equity ratio of 2.18. Apartment Investment and Management Co has a one year low of $41.73 and a one year high of $52.49.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a net margin of 98.61% and a return on equity of 49.61%. The company had revenue of $224.20 million during the quarter, compared to the consensus estimate of $224.36 million. During the same quarter in the previous year, the business earned $0.59 EPS. Apartment Investment and Management’s revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts forecast that Apartment Investment and Management Co will post 2.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, August 15th. Apartment Investment and Management’s payout ratio is currently 61.18%.

A number of equities analysts have issued reports on the company. BMO Capital Markets set a $55.00 target price on Apartment Investment and Management and gave the stock a “hold” rating in a report on Friday, August 2nd. 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 report on Tuesday, August 6th. Barclays reiterated a “hold” rating and set a $51.00 target price on shares of Apartment Investment and Management in a report on Tuesday, April 16th. Zacks Investment Research upgraded Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, ValuEngine cut Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Apartment Investment and Management presently has a consensus rating of “Hold” and a consensus price target of $51.14.

Apartment Investment and Management 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.

See Also: Compound Interest

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

Receive News & Ratings for Apartment Investment and Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Investment and Management and related companies with MarketBeat.com's FREE daily email newsletter.