Irenic Capital Management LP Purchases Shares of 3,890,324 Apartment Investment and Management Company $AIV

Irenic Capital Management LP purchased a new stake in shares of Apartment Investment and Management Company (NYSE:AIV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,890,324 shares of the real estate investment trust’s stock, valued at approximately $23,109,000. Apartment Investment and Management makes up about 1.6% of Irenic Capital Management LP’s investment portfolio, making the stock its 13th biggest position. Irenic Capital Management LP owned 2.70% of Apartment Investment and Management as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Apartment Investment and Management by 72.5% during the fourth quarter. Quadrant Capital Group LLC now owns 4,641 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,951 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Apartment Investment and Management by 2,561.7% during the fourth quarter. Parallel Advisors LLC now owns 4,658 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 4,483 shares in the last quarter. CWM LLC lifted its holdings in Apartment Investment and Management by 163.7% during the fourth quarter. CWM LLC now owns 5,730 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,557 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Apartment Investment and Management during the second quarter valued at approximately $59,000. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in Apartment Investment and Management by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 10,418 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,137 shares in the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.

Apartment Investment and Management Price Performance

AIV stock opened at $2.89 on Thursday. Apartment Investment and Management Company has a one year low of $2.85 and a one year high of $8.87. The company’s fifty day moving average price is $3.96 and its 200-day moving average price is $4.85. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.46 and a current ratio of 3.46. The company has a market capitalization of $415.02 million, a PE ratio of 0.74 and a beta of 1.18.

Apartment Investment and Management Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 15th were issued a $1.30 dividend. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 33.51%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Apartment Investment and Management in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

Apartment Investment and Management Company 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.