Great Lakes Advisors LLC decreased its position in Apartment Investment and Management Co. (NYSE:AIV) by 20.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,148 shares of the real estate investment trust’s stock after selling 36,608 shares during the period. Great Lakes Advisors LLC owned about 0.09% of Apartment Investment and Management worth $6,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NEXT Financial Group Inc raised its stake in shares of Apartment Investment and Management by 1.7% in the second quarter. NEXT Financial Group Inc now owns 2,913 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 50 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Apartment Investment and Management during the third quarter valued at $148,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Apartment Investment and Management during the second quarter valued at $223,000. Conning Inc. raised its stake in shares of Apartment Investment and Management by 2.1% in the second quarter. Conning Inc. now owns 5,378 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 110 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of Apartment Investment and Management by 9.8% in the third quarter. Raymond James Trust N.A. now owns 5,900 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 525 shares during the period.

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

Shares of Apartment Investment and Management Co. (NYSE:AIV) traded up 0.36% on Wednesday, reaching $42.20. The company’s stock had a trading volume of 1,408,579 shares. Apartment Investment and Management Co. has a 52-week low of $34.97 and a 52-week high of $47.91. The company has a market cap of $6.62 billion, a P/E ratio of 20.41 and a beta of 0.45. The company has a 50 day moving average price of $42.55 and a 200 day moving average price of $43.58.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Apartment Investment and Management had a return on equity of 19.95% and a net margin of 33.39%. The company earned $244.12 million during the quarter, compared to the consensus estimate of $239.45 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts anticipate that Apartment Investment and Management Co. will post $2.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Friday, November 18th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.32 annualized dividend and a dividend yield of 3.14%. Apartment Investment and Management’s dividend payout ratio is currently 64.08%.

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A number of equities research analysts have recently issued reports on the company. Canaccord Genuity boosted their target price on Apartment Investment and Management from $41.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Zacks Investment Research lowered Apartment Investment and Management from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. JMP Securities lowered Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 20th. Mizuho raised Apartment Investment and Management from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $49.00 in a research report on Monday, October 31st. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $45.00 target price on shares of Apartment Investment and Management in a research report on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Apartment Investment and Management presently has an average rating of “Hold” and an average price target of $45.78.

In other news, insider Keith M. Kimmel sold 3,000 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $39.81, for a total value of $119,430.00. Following the transaction, the insider now directly owns 35,718 shares in the company, valued at approximately $1,421,933.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.71% of the stock is owned by insiders.

Apartment Investment and Management Company Profile

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust. The Company, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. Its segments include conventional real estate and affordable real estate.

5 Day Chart for NYSE:AIV

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