Wall Street Zen Downgrades Apartment Investment and Management (NYSE:AIV) to Sell

Apartment Investment and Management (NYSE:AIV) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

Apartment Investment and Management Stock Up 0.1%

AIV opened at $8.00 on Friday. The firm has a 50 day moving average price of $7.97 and a 200 day moving average price of $8.51. The company has a market cap of $1.14 billion, a PE ratio of -4.62 and a beta of 1.38. Apartment Investment and Management has a 1 year low of $6.89 and a 1 year high of $9.49. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.35 and a current ratio of 1.35.

Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $52.35 million during the quarter, compared to the consensus estimate of $53.64 million. Apartment Investment and Management had a negative net margin of 119.76% and a negative return on equity of 68.04%. Sell-side analysts expect that Apartment Investment and Management will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On Apartment Investment and Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Anson Funds Management LP purchased a new position in Apartment Investment and Management in the 1st quarter worth approximately $2,582,000. Strs Ohio purchased a new position in Apartment Investment and Management in the 1st quarter worth approximately $227,000. Caxton Associates LLP purchased a new position in Apartment Investment and Management in the 1st quarter worth approximately $345,000. Newtyn Management LLC boosted its holdings in Apartment Investment and Management by 32.4% in the 1st quarter. Newtyn Management LLC now owns 5,000,000 shares of the real estate investment trust’s stock worth $44,000,000 after acquiring an additional 1,223,856 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Apartment Investment and Management by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,692 shares of the real estate investment trust’s stock worth $728,000 after acquiring an additional 3,635 shares during the period. Hedge funds and other institutional investors own 83.26% of the company’s stock.

About Apartment Investment and Management

Apartment Investment & Management Co operates as a real estate investment trust that engages in the acquisition, ownership, management and redevelopment of apartment properties. The company was founded in 1975 and is headquartered in Denver, CO.