Envestnet Asset Management Inc. Acquires 2,681 Shares of Apartment Investment and Management Company (NYSE:AIV)

Envestnet Asset Management Inc. raised its holdings in Apartment Investment and Management Company (NYSE:AIV) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,544 shares of the real estate investment trust’s stock after buying an additional 2,681 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Apartment Investment and Management were worth $462,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Apartment Investment and Management in the fourth quarter worth $77,000. GAMMA Investing LLC grew its position in shares of Apartment Investment and Management by 980.0% in the 1st quarter. GAMMA Investing LLC now owns 9,126 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 8,281 shares during the period. Principal Financial Group Inc. bought a new position in shares of Apartment Investment and Management in the 1st quarter worth about $89,000. Cerity Partners LLC bought a new position in shares of Apartment Investment and Management in the 4th quarter worth about $94,000. Finally, Dark Forest Capital Management LP lifted its position in Apartment Investment and Management by 66.5% during the 4th quarter. Dark Forest Capital Management LP now owns 18,110 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 7,232 shares during the period. 83.26% of the stock is owned by hedge funds and other institutional investors.

Apartment Investment and Management Trading Down 0.2%

Shares of AIV stock opened at $8.67 on Thursday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -11.25 and a beta of 1.39. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.94. The firm’s 50 day moving average is $8.52 and its 200 day moving average is $8.46. Apartment Investment and Management Company has a 12-month low of $6.89 and a 12-month high of $9.48.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $52.35 million for the quarter, compared to analysts’ expectations of $53.64 million. Apartment Investment and Management had a negative net margin of 50.37% and a negative return on equity of 45.41%. Research analysts expect that Apartment Investment and Management Company will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIV. Wall Street Zen lowered shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Friday, May 30th. Wolfe Research upgraded Apartment Investment and Management from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Monday.

Apartment Investment and Management Company Profile

Apartment Investment & Management Co operates as a real estate investment trust that engages in the acquisition, ownership, management and redevelopment of apartment properties. The company was founded in 1975 and is headquartered in Denver, CO.