Apartment Investment and Management (NYSE:AIV) Sets New 12-Month Low – Time to Sell?

Apartment Investment and Management Company (NYSE:AIV) shares hit a new 52-week low during trading on Monday . The stock traded as low as $3.91 and last traded at $3.9950, with a volume of 2016 shares trading hands. The stock had previously closed at $3.95.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Apartment Investment and Management in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apartment Investment and Management currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Apartment Investment and Management Stock Up 2.4%

The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.46 and a current ratio of 3.46. The stock’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $5.81. The firm has a market cap of $586.27 million, a P/E ratio of 1.05 and a beta of 1.35.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $2.19. The firm had revenue of $34.64 million for the quarter, compared to analyst estimates of $56.65 million. Apartment Investment and Management had a net margin of 316.79% and a return on equity of 9.05%. Research analysts anticipate that Apartment Investment and Management Company will post -0.8 EPS for the current year.

Apartment Investment and Management Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $1.45 per share. The ex-dividend date was Friday, February 27th.

Institutional Trading of Apartment Investment and Management

Several institutional investors and hedge funds have recently modified their holdings of AIV. Union Square Park Capital Management LLC bought a new position in Apartment Investment and Management during the 3rd quarter valued at $2,062,000. Long Pond Capital LP purchased a new stake in shares of Apartment Investment and Management in the second quarter valued at about $14,686,000. Alpha Wave Global LP lifted its position in shares of Apartment Investment and Management by 81.8% during the second quarter. Alpha Wave Global LP now owns 323,578 shares of the real estate investment trust’s stock valued at $2,799,000 after purchasing an additional 145,562 shares in the last quarter. Norges Bank bought a new position in shares of Apartment Investment and Management during the second quarter valued at about $6,405,000. Finally, Voya Investment Management LLC boosted its holdings in Apartment Investment and Management by 33.5% during the third quarter. Voya Investment Management LLC now owns 632,945 shares of the real estate investment trust’s stock worth $5,019,000 after purchasing an additional 158,767 shares during the last quarter. 83.26% of the stock is owned by hedge funds and other institutional investors.

Apartment Investment and Management Company Profile

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.