BlackRock Inc. Sells 39,673 Shares of Apartment Investment and Management Co (AIV)

Share on StockTwits

BlackRock Inc. lowered its stake in Apartment Investment and Management Co (NYSE:AIV) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,351,486 shares of the real estate investment trust’s stock after selling 39,673 shares during the quarter. BlackRock Inc. owned approximately 8.49% of Apartment Investment and Management worth $564,769,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Stevens Capital Management LP grew its position in shares of Apartment Investment and Management by 96.3% in the second quarter. Stevens Capital Management LP now owns 91,591 shares of the real estate investment trust’s stock valued at $3,874,000 after purchasing an additional 44,928 shares during the last quarter. Tredje AP fonden acquired a new position in shares of Apartment Investment and Management in the second quarter valued at approximately $3,888,000. Carret Asset Management LLC acquired a new position in shares of Apartment Investment and Management in the second quarter valued at approximately $206,000. Schwab Charles Investment Management Inc. grew its position in shares of Apartment Investment and Management by 5.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,114,324 shares of the real estate investment trust’s stock valued at $89,436,000 after purchasing an additional 104,385 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Apartment Investment and Management by 4.5% in the second quarter. Russell Investments Group Ltd. now owns 743,656 shares of the real estate investment trust’s stock valued at $31,414,000 after purchasing an additional 32,314 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of AIV stock opened at $43.72 on Thursday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $6.89 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.76 and a beta of 0.41. Apartment Investment and Management Co has a 1 year low of $37.97 and a 1 year high of $46.72.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.60). The company had revenue of $250.13 million during the quarter, compared to the consensus estimate of $242.93 million. Apartment Investment and Management had a net margin of 36.78% and a return on equity of 25.11%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. analysts predict that Apartment Investment and Management Co will post 2.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, August 16th. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 62.04%.

Several equities analysts have recently commented on AIV shares. ValuEngine raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Bank of America upped their target price on Apartment Investment and Management from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, June 8th. Mizuho reaffirmed a “hold” rating and issued a $44.00 target price on shares of Apartment Investment and Management in a research report on Monday, August 6th. Zelman & Associates downgraded Apartment Investment and Management from a “hold” rating to a “sell” rating in a research report on Thursday, May 10th. Finally, Jefferies Financial Group upped their target price on Apartment Investment and Management from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Apartment Investment and Management has a consensus rating of “Hold” and an average price target of $46.00.

In related news, insider Keith M. Kimmel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $43.21, for a total value of $1,080,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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 133 communities in 17 states and the District of Columbia.

Further Reading: Market Capitalization

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

Receive News & Ratings for Apartment Investment and Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Investment and Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply