Apartment Investment and Management Co (AIV) Stake Decreased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,857 shares of the real estate investment trust’s stock after selling 2,825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apartment Investment and Management were worth $2,809,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its holdings in Apartment Investment and Management by 15.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 144,962 shares of the real estate investment trust’s stock valued at $5,911,000 after buying an additional 18,961 shares during the period. Strs Ohio grew its stake in Apartment Investment and Management by 5.8% in the 4th quarter. Strs Ohio now owns 227,852 shares of the real estate investment trust’s stock worth $9,998,000 after acquiring an additional 12,588 shares in the last quarter. Citigroup Inc. grew its stake in Apartment Investment and Management by 59.4% in the 4th quarter. Citigroup Inc. now owns 291,277 shares of the real estate investment trust’s stock worth $12,781,000 after acquiring an additional 108,506 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Apartment Investment and Management by 13.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 170,000 shares of the real estate investment trust’s stock worth $7,460,000 after acquiring an additional 20,000 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Apartment Investment and Management by 9.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 224,500 shares of the real estate investment trust’s stock worth $9,851,000 after acquiring an additional 20,000 shares in the last quarter.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Barclays reaffirmed a “hold” rating and issued a $51.00 price target on shares of Apartment Investment and Management in a report on Tuesday, April 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $54.00 price target on shares of Apartment Investment and Management in a report on Monday, March 25th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Apartment Investment and Management in a report on Monday, March 4th. Finally, SunTrust Banks cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Monday, February 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.25.

Shares of Apartment Investment and Management stock opened at $49.08 on Wednesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.68 and a quick ratio of 0.32. Apartment Investment and Management Co has a 1 year low of $38.54 and a 1 year high of $51.25. The firm has a market cap of $7.15 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 3.73 and a beta of 0.65.

Apartment Investment and Management (NYSE:AIV) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Apartment Investment and Management had a net margin of 89.47% and a return on equity of 48.32%. The firm had revenue of $230.24 million during the quarter, compared to analysts’ expectations of $226.53 million. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Apartment Investment and Management Co will post 2.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 61.18%.

In related news, insider Lisa R. Cohn sold 9,695 shares of the firm’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $48.87, for a total transaction of $473,794.65. Following the sale, the insider now owns 88,791 shares in the company, valued at $4,339,216.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Keith M. Kimmel sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $49.55, for a total transaction of $1,238,750.00. Following the sale, the executive vice president now owns 28,753 shares in the company, valued at approximately $1,424,711.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,467 shares of company stock valued at $8,117,097. 2.83% of the stock is currently owned by corporate insiders.

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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 132 communities in 17 states and the District of Columbia.

See Also: Special Dividends

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

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