Riverhead Capital Management LLC Acquires 4,144 Shares of Apartment Investment and Management Co (NYSE:AIV)

Riverhead Capital Management LLC raised its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,304 shares of the real estate investment trust’s stock after purchasing an additional 4,144 shares during the period. Riverhead Capital Management LLC’s holdings in Apartment Investment and Management were worth $967,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AIV. AJO LP boosted its stake in shares of Apartment Investment and Management by 113.6% in the 1st quarter. AJO LP now owns 1,708,262 shares of the real estate investment trust’s stock valued at $85,908,000 after purchasing an additional 908,403 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Apartment Investment and Management by 7.7% in the first quarter. Principal Financial Group Inc. now owns 8,204,694 shares of the real estate investment trust’s stock worth $412,614,000 after purchasing an additional 589,211 shares during the period. Hexavest Inc. acquired a new stake in shares of Apartment Investment and Management in the 2nd quarter valued at about $22,138,000. FMR LLC increased its position in Apartment Investment and Management by 5.7% in the 1st quarter. FMR LLC now owns 6,614,021 shares of the real estate investment trust’s stock valued at $332,619,000 after buying an additional 358,290 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in Apartment Investment and Management by 32.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,415,282 shares of the real estate investment trust’s stock valued at $70,934,000 after buying an additional 346,827 shares in the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.

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

Shares of NYSE AIV traded down $0.03 during trading on Wednesday, hitting $50.78. The stock had a trading volume of 26,625 shares, compared to its average volume of 1,018,351. The firm has a fifty day moving average of $50.50 and a two-hundred day moving average of $50.31. The company has a market capitalization of $7.67 billion, a PE ratio of 19.92, a PEG ratio of 3.35 and a beta of 0.56. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.22 and a quick ratio of 0.22. Apartment Investment and Management Co has a 12 month low of $41.73 and a 12 month high of $52.49.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $224.20 million for the quarter, compared to the consensus estimate of $224.36 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts expect 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 dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 3.07%. Apartment Investment and Management’s dividend payout ratio is currently 61.18%.

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

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.

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

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