Apartment Investment and Management (NYSE:AIV) Sees Strong Trading Volume – What’s Next?

Apartment Investment and Management Company (NYSE:AIV) shares saw unusually-strong trading volume on Wednesday . Approximately 1,498,788 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 1,442,865 shares.The stock last traded at $5.9450 and had previously closed at $5.79.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Apartment Investment and Management in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apartment Investment and Management has a consensus rating of “Hold” and an average price target of $10.00.

Apartment Investment and Management Price Performance

The company has a market capitalization of $859.44 million, a price-to-earnings ratio of 3.46 and a beta of 1.39. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 8.00. The company has a 50 day simple moving average of $5.64 and a 200 day simple moving average of $7.27.

Hedge Funds Weigh In On Apartment Investment and Management

Several hedge funds and other institutional investors have recently made changes to their positions in AIV. Irenic Capital Management LP lifted its stake in shares of Apartment Investment and Management by 21.5% in the first quarter. Irenic Capital Management LP now owns 4,633,134 shares of the real estate investment trust’s stock worth $40,772,000 after acquiring an additional 820,539 shares in the last quarter. Nuveen LLC acquired a new stake in Apartment Investment and Management during the 1st quarter valued at approximately $5,067,000. Bleakley Financial Group LLC increased its holdings in Apartment Investment and Management by 28.0% during the 2nd quarter. Bleakley Financial Group LLC now owns 320,756 shares of the real estate investment trust’s stock worth $2,775,000 after purchasing an additional 70,095 shares during the last quarter. Newtyn Management LLC raised its position in shares of Apartment Investment and Management by 32.4% in the 1st quarter. Newtyn Management LLC now owns 5,000,000 shares of the real estate investment trust’s stock valued at $44,000,000 after purchasing an additional 1,223,856 shares in the last quarter. Finally, Long Pond Capital LP acquired a new position in shares of Apartment Investment and Management in the 2nd quarter valued at approximately $14,686,000. Institutional investors and hedge funds own 83.26% of the company’s stock.

About Apartment Investment and Management

Apartment Investment and Management Company (NYSE:AIV), commonly known as Aimco, is a real estate investment trust focused on the ownership and operation of multifamily residential communities in the United States. The company acquires, develops and manages apartment properties that offer a range of living environments—from urban high-rise buildings to garden-style communities. Aimco’s core business includes leasing apartments, providing on-site services and amenities, and overseeing property maintenance to drive occupancy and resident satisfaction.

Founded in 1994 as part of GMAC Residential, Aimco became a publicly traded REIT with headquarters in Denver, Colorado.