Apartment Investment and Management Company (NYSE:AIV) Sees Significant Decline in Short Interest

Apartment Investment and Management Company (NYSE:AIV) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 2,915,443 shares, a decline of 13.4% from the February 26th total of 3,366,174 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 2,781,666 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Apartment Investment and Management in a research report on Friday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apartment Investment and Management presently has a consensus rating of “Hold” and an average price target of $10.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Apartment Investment and Management by 66.3% during the first quarter. AQR Capital Management LLC now owns 27,747 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 11,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Apartment Investment and Management by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,692 shares of the real estate investment trust’s stock valued at $728,000 after acquiring an additional 3,635 shares during the period. Creative Planning raised its stake in Apartment Investment and Management by 16.4% during the 2nd quarter. Creative Planning now owns 12,162 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 1,712 shares during the last quarter. Legal & General Group Plc raised its stake in Apartment Investment and Management by 9.8% during the 2nd quarter. Legal & General Group Plc now owns 638,373 shares of the real estate investment trust’s stock valued at $5,522,000 after acquiring an additional 57,082 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Apartment Investment and Management during the 2nd quarter worth approximately $204,000. 83.26% of the stock is currently owned by institutional investors and hedge funds.

Apartment Investment and Management Stock Up 2.4%

Shares of NYSE AIV opened at $4.08 on Wednesday. The business has a 50-day moving average price of $5.08 and a 200 day moving average price of $5.81. The stock has a market cap of $586.27 million, a PE ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.87. Apartment Investment and Management has a 52-week low of $3.93 and a 52-week high of $8.89.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of ($0.11) by $2.19. The company had revenue of $34.64 million for the quarter, compared to analyst estimates of $56.65 million. Apartment Investment and Management had a return on equity of 9.05% and a net margin of 316.79%. Equities research analysts forecast that Apartment Investment and Management will post -0.8 earnings per share for the current year.

Apartment Investment and Management Dividend Announcement

The firm also recently declared a special dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $1.45 per share. The ex-dividend date was Friday, February 27th.

About Apartment Investment and Management

Apartment Investment and Management Company (NYSE:AIV), commonly known as Aimco, is a real estate investment trust focused on the ownership and operation of multifamily residential communities in the United States. The company acquires, develops and manages apartment properties that offer a range of living environments—from urban high-rise buildings to garden-style communities. Aimco’s core business includes leasing apartments, providing on-site services and amenities, and overseeing property maintenance to drive occupancy and resident satisfaction.

Founded in 1994 as part of GMAC Residential, Aimco became a publicly traded REIT with headquarters in Denver, Colorado.