LPL Financial LLC Takes $2.85 Million Position in Apartment Investment and Management Company $AIV

LPL Financial LLC acquired a new stake in Apartment Investment and Management Company (NYSE:AIV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 323,771 shares of the real estate investment trust’s stock, valued at approximately $2,849,000. LPL Financial LLC owned approximately 0.23% of Apartment Investment and Management at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AIV. Rush Island Management LP raised its holdings in shares of Apartment Investment and Management by 156.7% in the 4th quarter. Rush Island Management LP now owns 4,543,774 shares of the real estate investment trust’s stock valued at $41,303,000 after purchasing an additional 2,773,984 shares in the last quarter. Argosy Lionbridge Management LLC acquired a new stake in Apartment Investment and Management during the 4th quarter worth $21,226,000. Landmark Investment Partners L.P. acquired a new stake in Apartment Investment and Management during the 4th quarter worth $12,447,000. Land & Buildings Investment Management LLC raised its stake in Apartment Investment and Management by 77.2% during the 4th quarter. Land & Buildings Investment Management LLC now owns 3,074,160 shares of the real estate investment trust’s stock worth $27,944,000 after acquiring an additional 1,338,921 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Apartment Investment and Management by 14.0% during the 4th quarter. Millennium Management LLC now owns 7,145,287 shares of the real estate investment trust’s stock worth $64,951,000 after acquiring an additional 877,954 shares in the last quarter. 83.26% of the stock is currently owned by institutional investors and hedge funds.

Apartment Investment and Management Price Performance

Shares of NYSE:AIV opened at $7.89 on Monday. The company’s fifty day moving average price is $8.49 and its 200 day moving average price is $8.40. Apartment Investment and Management Company has a 12 month low of $6.89 and a 12 month high of $9.48. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $1.12 billion, a P/E ratio of -16.44 and a beta of 1.39.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings data on Monday, August 11th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The business had revenue of $52.76 million during the quarter, compared to analyst estimates of $54.62 million. Apartment Investment and Management had a negative net margin of 30.59% and a negative return on equity of 34.47%. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. As a group, sell-side analysts predict that Apartment Investment and Management Company will post -0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on AIV. Wolfe Research upgraded shares of Apartment Investment and Management from a “peer perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Monday, August 4th. Wall Street Zen lowered shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Friday, May 30th.

Apartment Investment and Management 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.