Apartment Investment and Management (NYSE:AIV) Sees Large Volume Increase – What’s Next?

Shares of Apartment Investment and Management Company (NYSE:AIV) saw unusually-strong trading volume on Wednesday . Approximately 1,498,788 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 1,442,865 shares.The stock last traded at $5.9450 and had previously closed at $5.79.

Analysts Set New Price Targets

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

Apartment Investment and Management Stock Up 3.1%

The stock’s 50-day moving average price is $5.61 and its two-hundred day moving average price is $7.25. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 8.00. The stock has a market capitalization of $860.16 million, a P/E ratio of 3.47 and a beta of 1.39.

Institutional Trading of Apartment Investment and Management

Several hedge funds have recently made changes to their positions in AIV. Raymond James Financial Inc. bought a new position in shares of Apartment Investment and Management during the 2nd quarter worth $59,000. Diversified Trust Co purchased a new stake in Apartment Investment and Management during the third quarter valued at about $82,000. Creative Planning boosted its position in Apartment Investment and Management by 16.4% during the second quarter. Creative Planning now owns 12,162 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,712 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Apartment Investment and Management in the third quarter worth about $105,000. Finally, Legato Capital Management LLC bought a new stake in shares of Apartment Investment and Management in the third quarter valued at approximately $105,000. 83.26% of the stock is currently owned by institutional investors.

About Apartment Investment and Management

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.