Bank of Montreal Can Reduces Holdings in Apartment Investment and Management Co (AIV)

Bank of Montreal Can lowered its stake in Apartment Investment and Management Co (NYSE:AIV) by 59.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 81,577 shares of the real estate investment trust’s stock after selling 119,728 shares during the period. Bank of Montreal Can’s holdings in Apartment Investment and Management were worth $4,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Apartment Investment and Management by 16.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 579,838 shares of the real estate investment trust’s stock worth $25,588,000 after buying an additional 83,057 shares in the last quarter. Man Group plc bought a new stake in Apartment Investment and Management during the third quarter valued at about $478,000. AQR Capital Management LLC boosted its position in Apartment Investment and Management by 11.2% during the third quarter. AQR Capital Management LLC now owns 56,340 shares of the real estate investment trust’s stock valued at $2,487,000 after purchasing an additional 5,668 shares in the last quarter. Nordea Investment Management AB bought a new stake in Apartment Investment and Management during the third quarter valued at about $11,613,000. Finally, Standard Life Aberdeen plc boosted its position in Apartment Investment and Management by 18.1% during the third quarter. Standard Life Aberdeen plc now owns 32,648 shares of the real estate investment trust’s stock valued at $1,441,000 after purchasing an additional 4,994 shares in the last quarter.

In other Apartment Investment and Management news, insider Patti K. Fielding sold 20,272 shares of Apartment Investment and Management stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.64, for a total value of $1,006,302.08. Following the sale, the insider now owns 35,187 shares in the company, valued at $1,746,682.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miles Cortez sold 9,500 shares of Apartment Investment and Management stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $49.50, for a total value of $470,250.00. Following the completion of the sale, the insider now owns 101,826 shares in the company, valued at approximately $5,040,387. The disclosure for this sale can be found here. Insiders have sold 54,772 shares of company stock worth $2,715,302 in the last three months. 2.83% of the stock is currently owned by corporate insiders.

NYSE AIV opened at $49.85 on Tuesday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.69 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.32 and a debt-to-equity ratio of 2.14. Apartment Investment and Management Co has a fifty-two week low of $38.54 and a fifty-two week high of $51.25.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $230.24 million for the quarter, compared to analyst estimates of $226.53 million. Apartment Investment and Management had a return on equity of 48.32% and a net margin of 89.47%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities analysts anticipate that Apartment Investment and Management Co will post 2.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 16th. Apartment Investment and Management’s dividend payout ratio (DPR) is currently 61.18%.

A number of brokerages recently weighed in on AIV. Zacks Investment Research raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 price objective on shares of Apartment Investment and Management in a research report on Monday, February 4th. Barclays downgraded Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 price objective on the stock. in a research report on Monday, February 4th. SunTrust Banks downgraded Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a research report on Monday, February 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Apartment Investment and Management in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.25.

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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: Retained Earnings

Want to see what other hedge funds are holding AIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apartment Investment and Management Co (NYSE:AIV).

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

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