Irenic Capital Management LP Invests $23.11 Million in Apartment Investment and Management Company $AIV

Irenic Capital Management LP bought a new position in Apartment Investment and Management Company (NYSE:AIV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,890,324 shares of the real estate investment trust’s stock, valued at approximately $23,109,000. Apartment Investment and Management makes up about 1.6% of Irenic Capital Management LP’s holdings, making the stock its 13th biggest holding.

Several other hedge funds have also recently modified their holdings of the stock. Newtyn Management LLC lifted its holdings in shares of Apartment Investment and Management by 49.5% in the third quarter. Newtyn Management LLC now owns 7,761,846 shares of the real estate investment trust’s stock worth $61,551,000 after buying an additional 2,571,374 shares in the last quarter. Silver Point Capital L.P. bought a new stake in Apartment Investment and Management in the fourth quarter worth $43,995,000. Geode Capital Management LLC increased its position in Apartment Investment and Management by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,382,389 shares of the real estate investment trust’s stock worth $20,091,000 after purchasing an additional 52,760 shares during the last quarter. Argosy Lionbridge Management LLC increased its position in Apartment Investment and Management by 8.2% in the third quarter. Argosy Lionbridge Management LLC now owns 2,913,134 shares of the real estate investment trust’s stock worth $23,101,000 after purchasing an additional 220,481 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in Apartment Investment and Management by 11.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,005,664 shares of the real estate investment trust’s stock worth $11,914,000 after purchasing an additional 199,547 shares during the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.

Apartment Investment and Management Trading Down 0.9%

Shares of AIV opened at $2.89 on Thursday. The company’s fifty day moving average is $3.96 and its 200 day moving average is $4.85. Apartment Investment and Management Company has a fifty-two week low of $2.85 and a fifty-two week high of $8.87. The stock has a market capitalization of $415.02 million, a PE ratio of 0.74 and a beta of 1.18. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.46 and a current ratio of 3.46.

Apartment Investment and Management Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 15th were given a $1.30 dividend. Apartment Investment and Management’s dividend payout ratio is presently 33.51%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Apartment Investment and Management in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Apartment Investment and Management Company Profile

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.