Cadence Capital Management LLC cut its stake in Apartment Investment and Management Company (NYSE:AIV) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,436 shares of the real estate investment trust’s stock after selling 114 shares during the period. Cadence Capital Management LLC’s holdings in Apartment Investment and Management were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Israel Discount Bank of New York purchased a new position in shares of Apartment Investment and Management during the first quarter valued at approximately $115,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of 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. purchased a new position in shares of Apartment Investment and Management during the first quarter valued at approximately $166,000. Koch Industries Inc. purchased a new position in shares of Apartment Investment and Management during the first quarter valued at approximately $234,000. Finally, Meadow Creek Investment Management LLC increased its position in shares of Apartment Investment and Management by 12.3% in the first quarter. Meadow Creek Investment Management LLC now owns 5,856 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 98.42% of the company’s stock.

Shares of Apartment Investment and Management Company (AIV) opened at 45.39 on Thursday. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 35.74 and a beta of 0.44. Apartment Investment and Management Company has a 52-week low of $39.66 and a 52-week high of $47.91. The firm has a 50-day moving average of $44.69 and a 200 day moving average of $44.30.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $240.78 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. Analysts predict that Apartment Investment and Management Company will post $0.50 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 18th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, August 16th. Apartment Investment and Management’s dividend payout ratio is presently 113.39%.

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Several research analysts recently commented on AIV shares. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, July 24th. BidaskClub upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Canaccord Genuity set a $50.00 target price on shares of Apartment Investment and Management and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Bank of America Corporation downgraded shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Friday, June 16th. Finally, JMP Securities upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, July 10th. 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 stock. Apartment Investment and Management has an average rating of “Hold” and an average target price of $46.88.

In other news, EVP Keith M. Kimmel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the sale, the executive vice president now directly owns 28,481 shares in the company, valued at $1,310,126. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

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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