Oppenheimer Asset Management Inc. Increases Stake in Apartment Investment and Management Co (NYSE:AIV)

Oppenheimer Asset Management Inc. lifted its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,498 shares of the real estate investment trust’s stock after buying an additional 192 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Apartment Investment and Management were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in Apartment Investment and Management by 11.3% in the third quarter. California Public Employees Retirement System now owns 335,173 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 33,910 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Apartment Investment and Management by 19.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 205,051 shares of the real estate investment trust’s stock worth $10,691,000 after purchasing an additional 32,929 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Apartment Investment and Management by 86.5% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 9,591 shares of the real estate investment trust’s stock worth $495,000 after purchasing an additional 4,447 shares during the period. Presima Inc. grew its holdings in Apartment Investment and Management by 7.3% in the third quarter. Presima Inc. now owns 41,419 shares of the real estate investment trust’s stock worth $2,160,000 after purchasing an additional 2,800 shares during the period. Finally, Rhumbline Advisers grew its holdings in Apartment Investment and Management by 1.2% in the third quarter. Rhumbline Advisers now owns 258,583 shares of the real estate investment trust’s stock worth $13,483,000 after purchasing an additional 3,175 shares during the period. Institutional investors own 95.74% of the company’s stock.

A number of equities research analysts have weighed in on AIV shares. Barclays set a $53.00 price objective on shares of Apartment Investment and Management and gave the stock a “hold” rating in a report on Friday, October 11th. Zelman & Associates upgraded shares of Apartment Investment and Management from a “sell” rating to a “hold” rating in a report on Monday, August 12th. BMO Capital Markets upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $58.00 in a report on Friday, September 6th. Mizuho upgraded shares of Apartment Investment and Management from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, August 6th. Finally, SunTrust Banks increased their price target on shares of Apartment Investment and Management from $49.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $54.38.

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In related news, Director Kathleen M. Nelson sold 2,400 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $50.16, for a total transaction of $120,384.00. Following the transaction, the director now owns 44,329 shares in the company, valued at $2,223,542.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.83% of the company’s stock.

NYSE:AIV opened at $53.17 on Friday. The company’s 50 day moving average price is $53.35 and its 200-day moving average price is $51.20. Apartment Investment and Management Co has a 52 week low of $42.06 and a 52 week high of $55.49. The company has a quick ratio of 0.22, a current ratio of 0.23 and a debt-to-equity ratio of 2.38. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.77 and a beta of 0.52.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.62). Apartment Investment and Management had a net margin of 37.98% and a return on equity of 19.60%. The firm had revenue of $229.80 million for the quarter, compared to analysts’ expectations of $224.73 million. During the same quarter in the previous year, the company earned $3.61 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apartment Investment and Management Co will post 2.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, November 14th. Apartment Investment and Management’s payout ratio is 61.18%.

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.

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

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