Meeder Asset Management Inc. Decreases Position in Apartment Investment and Management Company (AIV)

Meeder Asset Management Inc. cut its stake in shares of Apartment Investment and Management Company (NYSE:AIV) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,960 shares of the real estate investment trust’s stock after selling 399 shares during the period. Meeder Asset Management Inc.’s holdings in Apartment Investment and Management were worth $729,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in Apartment Investment and Management by 10.6% in the first quarter. Quadrant Capital Group LLC now owns 2,606 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 250 shares during the period. Israel Discount Bank of New York acquired a new position in Apartment Investment and Management during the first quarter valued at $115,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Apartment Investment and Management by 190.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 1,900 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Apartment Investment and Management during the first quarter valued at $166,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Apartment Investment and Management during the fourth quarter valued at $231,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Apartment Investment and Management Company (NYSE AIV) traded down 0.42% during midday trading on Friday, hitting $45.55. 667,667 shares of the company traded hands. Apartment Investment and Management Company has a 12-month low of $39.66 and a 12-month high of $47.91. The stock has a 50 day moving average price of $44.03 and a 200-day moving average price of $44.21. The company has a market cap of $7.15 billion, a PE ratio of 35.87 and a beta of 0.44.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Apartment Investment and Management had a return on equity of 12.46% and a net margin of 20.64%. The firm had revenue of $246.24 million for the quarter, compared to the consensus estimate of $240.78 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Analysts expect that Apartment Investment and Management Company will post $0.50 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 18th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.44 dividend on an annualized basis and a yield of 3.16%. Apartment Investment and Management’s payout ratio is currently 113.39%.

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Several research firms have weighed in on AIV. BidaskClub downgraded shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BMO Capital Markets reiterated a “sell” rating and set a $42.00 price target on shares of Apartment Investment and Management in a report on Thursday, May 25th. JMP Securities upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, July 24th. Finally, Barclays PLC lowered their price target on shares of Apartment Investment and Management from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Apartment Investment and Management has an average rating of “Hold” and a consensus price target of $46.88.

About Apartment Investment and Management

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

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

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