Crestline Management LP reduced its position in Apartment Investment and Management Co (NYSE:AIV) by 57.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 73,391 shares of the real estate investment trust’s stock after selling 97,713 shares during the quarter. Crestline Management LP’s holdings in Apartment Investment and Management were worth $3,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc raised its position in Apartment Investment and Management by 0.6% during the third quarter. Vanguard Group Inc now owns 25,432,876 shares of the real estate investment trust’s stock worth $1,122,352,000 after acquiring an additional 139,888 shares during the period. BlackRock Inc. raised its position in Apartment Investment and Management by 3.2% during the fourth quarter. BlackRock Inc. now owns 14,083,432 shares of the real estate investment trust’s stock worth $617,981,000 after acquiring an additional 441,243 shares during the period. FMR LLC raised its position in Apartment Investment and Management by 1.1% during the third quarter. FMR LLC now owns 6,312,251 shares of the real estate investment trust’s stock worth $278,559,000 after acquiring an additional 66,717 shares during the period. Renaissance Technologies LLC raised its position in Apartment Investment and Management by 7.7% during the third quarter. Renaissance Technologies LLC now owns 6,121,585 shares of the real estate investment trust’s stock worth $270,146,000 after acquiring an additional 439,200 shares during the period. Finally, Northern Trust Corp raised its position in Apartment Investment and Management by 11.3% during the fourth quarter. Northern Trust Corp now owns 2,610,433 shares of the real estate investment trust’s stock worth $114,545,000 after acquiring an additional 264,329 shares during the period. Hedge funds and other institutional investors own 93.37% of the company’s stock.

In other news, Director Thomas L. Keltner sold 3,500 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $46.67, for a total transaction of $163,345.00. Following the completion of the sale, the director now owns 37,829 shares of the company’s stock, valued at $1,765,479.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patti K. Fielding sold 20,272 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.64, for a total transaction of $1,006,302.08. Following the sale, the insider now directly owns 35,187 shares of the company’s stock, valued at approximately $1,746,682.68. The disclosure for this sale can be found here. Insiders have sold 170,677 shares of company stock valued at $8,411,724 in the last ninety days. Insiders own 2.83% of the company’s stock.

A number of equities analysts have weighed in on the stock. SunTrust Banks cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Monday, February 25th. They noted that the move was a valuation call. Wells Fargo & Co restated a “buy” rating on shares of Apartment Investment and Management in a research report on Monday, March 4th. BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Apartment Investment and Management in a research report on Monday, February 4th. Barclays cut shares of Apartment Investment and Management from an “overweight” rating to an “equal weight” rating and set a $49.00 price objective for the company. in a research report on Monday, February 4th. Finally, Zacks Investment Research cut shares of Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.13.

NYSE:AIV opened at $50.78 on Friday. Apartment Investment and Management Co has a fifty-two week low of $38.40 and a fifty-two week high of $50.84. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 3.75 and a beta of 0.67. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 2.49.

Apartment Investment and Management (NYSE:AIV) last released its earnings results on Monday, February 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.61). Apartment Investment and Management had a return on equity of 39.20% and a net margin of 68.29%. The business had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $234.44 million. During the same period in the previous year, the company earned $1.67 EPS. Apartment Investment and Management’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Apartment Investment and Management Co will post 2.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, February 22nd will be issued a dividend of $0.39 per share. This is a positive change from Apartment Investment and Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.07%. Apartment Investment and Management’s dividend payout ratio is presently 61.18%.

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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.

Further Reading: Why is the price-sales ratio important?

Want to see what other hedge funds are holding AIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apartment Investment and Management Co (NYSE:AIV).

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

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