Rafferty Asset Management LLC cut its position in shares of Apartment Investment and Management Company (NYSE:AIV) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,144 shares of the real estate investment trust’s stock after selling 5,099 shares during the quarter. Rafferty Asset Management LLC’s holdings in Apartment Investment and Management were worth $994,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Israel Discount Bank of New York bought a new position in shares of Apartment Investment and Management during the 1st quarter valued at about $115,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Apartment Investment and Management by 190.0% during the 1st 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 purchasing an additional 1,900 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Apartment Investment and Management during the 2nd quarter valued at about $124,000. Ameritas Investment Partners Inc. bought a new position in shares of Apartment Investment and Management during the 1st quarter valued at about $166,000. Finally, Raymond James Trust N.A. bought a new position in shares of Apartment Investment and Management during the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Several equities analysts have recently commented on the company. UBS AG lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Friday, September 8th. BidaskClub upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Canaccord Genuity set a $50.00 price objective on Apartment Investment and Management and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Robert W. Baird reiterated a “hold” rating and set a $46.00 price objective on shares of Apartment Investment and Management in a research report on Tuesday, September 12th. Finally, Bank of America Corporation lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Friday, June 16th. 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. Apartment Investment and Management presently has a consensus rating of “Hold” and an average target price of $46.90.

In other Apartment Investment and Management news, EVP Keith M. Kimmel sold 10,000 shares of the company’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 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 the SEC website. Corporate insiders own 1.20% of the company’s stock.

Apartment Investment and Management Company (AIV) opened at 44.75 on Monday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 35.24 and a beta of 0.45. The company’s 50-day moving average price is $45.62 and its 200 day moving average price is $44.29. Apartment Investment and Management Company has a 52-week low of $39.66 and a 52-week high of $47.91.

Apartment Investment and Management (NYSE:AIV) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $246.24 million for the quarter, compared to the consensus estimate of $240.78 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Apartment Investment and Management Company will post $0.47 EPS for the current fiscal year.

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.44 dividend on an annualized basis and a yield of 3.22%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 113.39%.

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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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