TIAA CREF Investment Management LLC cut its position in Apartment Investment and Management Company (NYSE:AIV) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 988,883 shares of the real estate investment trust’s stock after selling 80,236 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.63% of Apartment Investment and Management worth $42,492,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Israel Discount Bank of New York acquired a new position in shares of Apartment Investment and Management in the first quarter valued at about $115,000. Schroder Investment Management Group acquired a new stake in Apartment Investment and Management during the second quarter worth about $124,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Apartment Investment and Management by 190.0% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 1,900 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Apartment Investment and Management during the first quarter worth about $166,000. Finally, Raymond James Trust N.A. acquired a new stake in Apartment Investment and Management during the second quarter worth about $217,000. 98.30% of the stock is currently owned by institutional investors and hedge funds.

In other Apartment Investment and Management news, EVP Keith M. Kimmel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the executive vice president now owns 28,481 shares in the company, valued at approximately $1,310,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Apartment Investment and Management Company (NYSE:AIV) opened at 45.22 on Thursday. Apartment Investment and Management Company has a 52-week low of $39.66 and a 52-week high of $47.91. The stock has a market cap of $7.10 billion, a P/E ratio of 35.61 and a beta of 0.45. The stock has a 50 day moving average price of $45.62 and a 200 day moving average price of $44.29.

Apartment Investment and Management (NYSE:AIV) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping 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 company had revenue of $246.24 million for the quarter, compared to analysts’ expectations of $240.78 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Apartment Investment and Management Company will post $0.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 18th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, August 16th. Apartment Investment and Management’s payout ratio is 113.39%.

Several analysts recently commented on AIV shares. Zacks Investment Research lowered Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 target price on shares of Apartment Investment and Management in a report on Tuesday, September 12th. BidaskClub lowered Apartment Investment and Management from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. JMP Securities raised 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. Finally, Bank of America Corporation lowered 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Apartment Investment and Management has an average rating of “Hold” and an average price target of $46.90.

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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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