Pacer Advisors Inc. Raises Stake in Apartment Investment and Management Co (NYSE:AIV)

Pacer Advisors Inc. lifted its position in shares of Apartment Investment and Management Co (NYSE:AIV) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,052 shares of the real estate investment trust’s stock after buying an additional 1,503 shares during the quarter. Pacer Advisors Inc.’s holdings in Apartment Investment and Management were worth $837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCG Advisors LP purchased a new stake in shares of Apartment Investment and Management during the second quarter worth about $46,000. USA Financial Portformulas Corp grew its holdings in shares of Apartment Investment and Management by 31.3% during the second 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 in the last quarter. Assetmark Inc. grew its holdings in shares of Apartment Investment and Management by 87,975.0% during the second quarter. Assetmark Inc. now owns 3,523 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 3,519 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of Apartment Investment and Management during the second quarter worth about $206,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Apartment Investment and Management during the second quarter worth about $218,000. Institutional investors and hedge funds own 95.72% of the company’s stock.

AIV opened at $54.48 on Friday. The company’s 50 day simple moving average is $52.02 and its 200 day simple moving average is $50.77. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.22 and a current ratio of 0.22. Apartment Investment and Management Co has a 1 year low of $41.98 and a 1 year high of $54.61. The stock has a market capitalization of $8.04 billion, a PE ratio of 21.53, a P/E/G ratio of 4.80 and a beta of 0.54.

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

In related news, Director Kathleen M. Nelson sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $50.16, for a total value of $120,384.00. Following the sale, the director now directly owns 44,329 shares of the company’s stock, valued at $2,223,542.64. The transaction 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.

AIV has been the subject of a number of recent research reports. Barclays set a $53.00 price target on shares of Apartment Investment and Management and gave the stock a “hold” rating in a report on Friday, October 11th. SunTrust Banks lifted their price target on shares of Apartment Investment and Management from $49.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. ValuEngine downgraded shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zelman & Associates upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, BMO Capital Markets upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $58.00 in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $53.17.

About Apartment Investment and Management

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: Equal Weight Rating

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

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