SummitTX Capital L.P. Purchases 1,178,504 Shares of Apartment Investment and Management Company $AIV

SummitTX Capital L.P. grew its position in Apartment Investment and Management Company (NYSE:AIV) by 141.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,010,275 shares of the real estate investment trust’s stock after purchasing an additional 1,178,504 shares during the period. SummitTX Capital L.P.’s holdings in Apartment Investment and Management were worth $8,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIV. Weiss Asset Management LP grew its holdings in shares of Apartment Investment and Management by 552.0% in the 1st quarter. Weiss Asset Management LP now owns 8,150,456 shares of the real estate investment trust’s stock valued at $33,172,000 after buying an additional 6,900,456 shares during the period. Newtyn Management LLC raised its stake in Apartment Investment and Management by 49.5% during the 3rd quarter. Newtyn Management LLC now owns 7,761,846 shares of the real estate investment trust’s stock worth $61,551,000 after buying an additional 2,571,374 shares during the period. Silver Point Capital L.P. acquired a new stake in Apartment Investment and Management during the 4th quarter worth $43,995,000. Irenic Capital Management LP bought a new position in Apartment Investment and Management during the fourth quarter worth about $23,109,000. Finally, Geode Capital Management LLC lifted its holdings in Apartment Investment and Management by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,382,389 shares of the real estate investment trust’s stock worth $20,091,000 after acquiring an additional 52,760 shares in the last quarter. 83.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Apartment Investment and Management from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

Apartment Investment and Management Stock Up 0.2%

AIV stock opened at $2.65 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.46 and a quick ratio of 3.46. The stock has a market capitalization of $380.51 million, a P/E ratio of 0.68 and a beta of 1.18. Apartment Investment and Management Company has a fifty-two week low of $2.59 and a fifty-two week high of $8.82. The business has a 50-day moving average of $3.22 and a 200-day moving average of $4.29.

Apartment Investment and Management Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 15th were paid a $1.30 dividend.

Apartment Investment and Management Profile

Apartment Investment and Management Company (NYSE:AIV), commonly known as Aimco, is a real estate investment trust focused on the ownership and operation of multifamily residential communities in the United States. The company acquires, develops and manages apartment properties that offer a range of living environments—from urban high-rise buildings to garden-style communities. Aimco’s core business includes leasing apartments, providing on-site services and amenities, and overseeing property maintenance to drive occupancy and resident satisfaction.

Founded in 1994 as part of GMAC Residential, Aimco became a publicly traded REIT with headquarters in Denver, Colorado.