Apartment Investment and Management Co (AIV) Stake Reduced by Waterfront Capital Partners LLC

Waterfront Capital Partners LLC decreased its position in Apartment Investment and Management Co (NYSE:AIV) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 439,020 shares of the real estate investment trust’s stock after selling 40,568 shares during the period. Apartment Investment and Management accounts for approximately 2.8% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 10th largest position. Waterfront Capital Partners LLC’s holdings in Apartment Investment and Management were worth $19,471,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its stake in Apartment Investment and Management by 1.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 227,298 shares of the real estate investment trust’s stock valued at $10,435,000 after buying an additional 3,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apartment Investment and Management by 1.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,851 shares of the real estate investment trust’s stock valued at $1,830,000 after buying an additional 740 shares during the period. Hartford Investment Management Co. boosted its stake in Apartment Investment and Management by 5.2% in the third quarter. Hartford Investment Management Co. now owns 36,091 shares of the real estate investment trust’s stock valued at $1,657,000 after buying an additional 1,775 shares during the period. KCG Holdings Inc. acquired a new stake in Apartment Investment and Management during the third quarter valued at approximately $822,000. Finally, BOKF NA boosted its stake in Apartment Investment and Management by 22.3% in the third quarter. BOKF NA now owns 12,837 shares of the real estate investment trust’s stock valued at $589,000 after buying an additional 2,341 shares during the period.

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

Apartment Investment and Management Co (NYSE:AIV) traded up 0.58% during trading on Friday, hitting $43.04. The stock had a trading volume of 1,168,544 shares. The company has a market cap of $6.76 billion, a P/E ratio of 16.63 and a beta of 0.36. The company has a 50 day moving average of $43.87 and a 200-day moving average of $43.92. Apartment Investment and Management Co has a 12-month low of $39.14 and a 12-month high of $47.91.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $246.50 million for the quarter, compared to analyst estimates of $242.87 million. Apartment Investment and Management had a return on equity of 24.85% and a net margin of 42.78%. Apartment Investment and Management’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, equities analysts predict that Apartment Investment and Management Co will post $0.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Friday, May 19th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, May 17th. Apartment Investment and Management’s payout ratio is 49.62%.

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Several analysts have commented on the company. BMO Capital Markets cut Apartment Investment and Management from a “market perform” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Friday, February 17th. Zacks Investment Research cut Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Tuesday, January 24th. Barclays PLC lowered their price target on Apartment Investment and Management from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, January 23rd. Canaccord Genuity set a $48.00 price target on Apartment Investment and Management and gave the company a “hold” rating in a report on Tuesday, February 7th. Finally, Mizuho cut Apartment Investment and Management from a “buy” rating to a “neutral” rating and lowered their price target for the company from $50.00 to $45.00 in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.57.

In related news, insider John E. Bezzant sold 7,085 shares of the company’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $44.25, for a total transaction of $313,511.25. Following the transaction, the insider now directly owns 45,717 shares of the company’s stock, valued at $2,022,977.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen M. Nelson sold 1,220 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $43.59, for a total value of $53,179.80. Following the transaction, the director now directly owns 40,630 shares in the company, valued at $1,771,061.70. The disclosure for this sale can be found here. Insiders have sold 18,305 shares of company stock worth $833,891 over the last three months. 1.71% of the stock is owned by insiders.

Apartment Investment and Management Company Profile

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

12 Month Chart for NYSE:AIV

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