Apartment Investment and Management Co (NYSE:AIV) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 2.7% in the second quarter, Holdings Channel reports. The fund owned 4,032,068 shares of the real estate investment trust’s stock after selling 112,230 shares during the period. Apartment Investment and Management accounts for about 1.8% of Daiwa Securities Group Inc.’s portfolio, making the stock its 13th biggest position. Daiwa Securities Group Inc.’s holdings in Apartment Investment and Management were worth $202,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. 6 Meridian lifted its position in Apartment Investment and Management by 2.1% during the 2nd quarter. 6 Meridian now owns 10,213 shares of the real estate investment trust’s stock worth $512,000 after acquiring an additional 214 shares during the period. Louisiana State Employees Retirement System lifted its position in Apartment Investment and Management by 3.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,452 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 252 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Apartment Investment and Management by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,552 shares of the real estate investment trust’s stock worth $830,000 after acquiring an additional 297 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Apartment Investment and Management by 10.1% in the 2nd quarter. Raymond James Trust N.A. now owns 4,387 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 404 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Apartment Investment and Management by 3.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,193 shares of the real estate investment trust’s stock valued at $563,000 after buying an additional 414 shares during the period. 96.55% of the stock is owned by institutional investors.

Several research firms have recently commented on AIV. Barclays reissued a “hold” rating and issued a $51.00 price target on shares of Apartment Investment and Management in a report on Tuesday, April 16th. ValuEngine cut Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.43.

In related news, insider Miles Cortez sold 6,205 shares of Apartment Investment and Management stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $50.30, for a total transaction of $312,111.50. Following the completion of the transaction, the insider now directly owns 101,876 shares of the company’s stock, valued at $5,124,362.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

AIV opened at $50.23 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.14. The company has a 50 day simple moving average of $50.71. The firm has a market cap of $7.48 billion, a PE ratio of 19.70, a P/E/G ratio of 3.73 and a beta of 0.57. Apartment Investment and Management Co has a 12 month low of $41.28 and a 12 month high of $52.49.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $224.20 million during the quarter, compared to analyst estimates of $224.36 million. Apartment Investment and Management had a net margin of 89.47% and a return on equity of 48.32%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, sell-side analysts expect that Apartment Investment and Management Co will post 2.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 3.11%. Apartment Investment and Management’s dividend payout ratio is presently 61.18%.

Apartment Investment and Management Company 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.

Read More: Why do analysts give a neutral rating?

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

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