California Public Employees Retirement System lessened its stake in shares of Apartment Investment and Management Company (NYSE:AIV) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 346,073 shares of the real estate investment trust’s stock after selling 6,200 shares during the quarter. California Public Employees Retirement System owned about 0.22% of Apartment Investment and Management worth $14,871,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in Apartment Investment and Management by 3,261.5% during the first quarter. BlackRock Inc. now owns 12,471,775 shares of the real estate investment trust’s stock worth $553,123,000 after buying an additional 12,100,758 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Apartment Investment and Management by 2.8% in the first quarter. Vanguard Group Inc. now owns 27,397,533 shares of the real estate investment trust’s stock worth $1,215,081,000 after acquiring an additional 748,512 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Apartment Investment and Management by 10.4% in the second quarter. Principal Financial Group Inc. now owns 7,481,959 shares of the real estate investment trust’s stock worth $321,500,000 after acquiring an additional 701,904 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of Apartment Investment and Management by 63.3% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,665,067 shares of the real estate investment trust’s stock worth $71,548,000 after acquiring an additional 645,150 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Apartment Investment and Management by 38.0% in the first quarter. Renaissance Technologies LLC now owns 2,189,200 shares of the real estate investment trust’s stock worth $97,091,000 after acquiring an additional 602,400 shares during the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Shares of Apartment Investment and Management Company (NYSE AIV) opened at 43.88 on Wednesday. Apartment Investment and Management Company has a 12 month low of $39.66 and a 12 month high of $46.86. The stock has a market cap of $6.89 billion, a P/E ratio of 34.55 and a beta of 0.46. The stock has a 50 day moving average price of $45.21 and a 200-day moving average price of $44.30.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Apartment Investment and Management had a net margin of 20.64% and a return on equity of 12.46%. The business had revenue of $246.24 million for the quarter, compared to analyst estimates of $240.78 million. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, analysts forecast that Apartment Investment and Management Company will post $0.47 EPS for the current fiscal year.

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AIV has been the topic of several recent research reports. BidaskClub upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Mizuho cut Apartment Investment and Management from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $45.00 to $42.00 in a research report on Monday, July 10th. Canaccord Genuity set a $50.00 price objective on Apartment Investment and Management and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Barclays PLC dropped their price objective on Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. Finally, UBS AG downgraded shares of Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.90.

In related news, EVP Keith M. Kimmel sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the transaction, the executive vice president now owns 28,481 shares of the company’s stock, valued at approximately $1,310,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Apartment Investment and Management Profile

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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