Apartment Investment and Management Co (AIV) Position Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 935.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,000 shares of the real estate investment trust’s stock after acquiring an additional 156,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Apartment Investment and Management worth $7,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quad Cities Investment Group LLC bought a new position in Apartment Investment and Management during the 2nd quarter valued at $150,000. Advisors Asset Management Inc. boosted its stake in Apartment Investment and Management by 114.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,122 shares of the real estate investment trust’s stock valued at $174,000 after acquiring an additional 2,200 shares during the last quarter. Carret Asset Management LLC bought a new position in Apartment Investment and Management during the 2nd quarter valued at $206,000. Mount Yale Investment Advisors LLC bought a new position in Apartment Investment and Management during the 2nd quarter valued at $275,000. Finally, NN Investment Partners Holdings N.V. bought a new position in Apartment Investment and Management during the 3rd quarter valued at $330,000.

Apartment Investment and Management stock opened at $47.08 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.43 and a current ratio of 0.43. Apartment Investment and Management Co has a 1 year low of $37.97 and a 1 year high of $47.61. The stock has a market capitalization of $7.36 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 4.10 and a beta of 0.51.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $3.00. Apartment Investment and Management had a net margin of 92.50% and a return on equity of 55.25%. The company had revenue of $242.48 million for the quarter, compared to the consensus estimate of $239.80 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts expect that Apartment Investment and Management Co will post 2.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.38 dividend. The ex-dividend date was Thursday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.23%. Apartment Investment and Management’s payout ratio is currently 62.04%.

In other news, insider Lisa R. Cohn sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $45.62, for a total value of $228,100.00. Following the transaction, the insider now directly owns 73,754 shares in the company, valued at approximately $3,364,657.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

AIV has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Apartment Investment and Management from $42.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Scotiabank initiated coverage on shares of Apartment Investment and Management in a research note on Tuesday, October 16th. They set an “underperform” rating on the stock. TheStreet upgraded shares of Apartment Investment and Management from a “c+” rating to a “b” rating in a research note on Thursday, November 1st. Zacks Investment Research reiterated a “sell” rating on shares of Apartment Investment and Management in a research note on Monday, November 12th. Finally, Wells Fargo & Co set a $50.00 price objective on shares of Apartment Investment and Management and gave the company a “buy” rating in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.80.

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Apartment Investment and Management Profile

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: Cash Flow

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

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