Apartment Investment and Management Co (AIV) Stake Lowered by PNC Financial Services Group Inc.

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PNC Financial Services Group Inc. reduced its stake in Apartment Investment and Management Co (NYSE:AIV) by 23.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 19,026 shares of the real estate investment trust’s stock after selling 5,851 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Apartment Investment and Management were worth $775,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AIV. Commerzbank Aktiengesellschaft FI purchased a new stake in Apartment Investment and Management during the 1st quarter worth approximately $204,000. Zeke Capital Advisors LLC purchased a new stake in Apartment Investment and Management during the 4th quarter worth approximately $210,000. Allianz Asset Management GmbH purchased a new stake in Apartment Investment and Management during the 4th quarter worth approximately $266,000. MANA Advisors LLC purchased a new stake in Apartment Investment and Management during the 4th quarter worth approximately $288,000. Finally, Vident Investment Advisory LLC increased its stake in Apartment Investment and Management by 43.0% during the 4th quarter. Vident Investment Advisory LLC now owns 6,585 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 1,980 shares during the period.

In other news, Director Kathleen M. Nelson sold 1,318 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $41.12, for a total value of $54,196.16. Following the completion of the transaction, the director now owns 43,782 shares in the company, valued at approximately $1,800,315.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Shares of NYSE:AIV opened at $42.04 on Friday. Apartment Investment and Management Co has a 52 week low of $37.97 and a 52 week high of $46.72. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 3.60 and a beta of 0.42.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Monday, May 7th. The real estate investment trust reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.08). Apartment Investment and Management had a net margin of 38.11% and a return on equity of 26.79%. The firm had revenue of $247.72 million during the quarter, compared to analysts’ expectations of $240.46 million. During the same period in the prior year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. research analysts forecast that Apartment Investment and Management Co will post 2.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Friday, May 18th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, May 17th. Apartment Investment and Management’s dividend payout ratio is presently 62.04%.

AIV has been the topic of several recent research reports. Zacks Investment Research raised shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. BMO Capital Markets raised shares of Apartment Investment and Management from an “underperform” rating to a “market perform” rating and set a $42.00 target price on the stock in a research note on Friday, March 2nd. SunTrust Banks set a $44.00 target price on shares of Apartment Investment and Management and gave the stock a “buy” rating in a research note on Friday, March 2nd. Barclays reaffirmed a “buy” rating and set a $47.00 target price on shares of Apartment Investment and Management in a research note on Tuesday, April 17th. Finally, ValuEngine raised shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.00.

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 184 communities in 22 states and the District of Columbia.

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

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