Stocks: DUPONT CAPITAL MANAGEMENT Corp Purchases New Stake in Apartment Investment and Management Co (AIV)

Stocks: DUPONT CAPITAL MANAGEMENT Corp Purchases New Stake in Apartment Investment and Management Co (AIV)

DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in Apartment Investment and Management Co (NYSE:AIV) during the first quarter, Holdings Channel reports. The institutional investor purchased 19,197 shares of the real estate investment trust’s stock, valued at approximately $851,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIV. KCG Holdings Inc. purchased a new position in Apartment Investment and Management during the third quarter valued at $822,000. Convergence Investment Partners LLC bought a new position in shares of Apartment Investment and Management during the third quarter valued at approximately $963,000. BOKF NA increased its position in shares of Apartment Investment and Management by 22.3% in the third quarter. BOKF NA now owns 12,837 shares of the real estate investment trust’s stock valued at $589,000 after buying an additional 2,341 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Apartment Investment and Management by 174.8% in the third quarter. Riverhead Capital Management LLC now owns 8,100 shares of the real estate investment trust’s stock valued at $372,000 after buying an additional 5,152 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Apartment Investment and Management by 0.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,970 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 30 shares in the last quarter.

Apartment Investment and Management Co (NYSE:AIV) opened at 43.41 on Friday. The company has a market cap of $6.82 billion, a P/E ratio of 16.77 and a beta of 0.36. Apartment Investment and Management Co has a 52 week low of $39.14 and a 52 week high of $47.91. The firm has a 50-day moving average price of $44.17 and a 200 day moving average price of $43.93.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Apartment Investment and Management had a return on equity of 24.85% and a net margin of 42.78%. The company had revenue of $246.50 million during the quarter, compared to analyst estimates of $242.87 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Analysts expect that Apartment Investment and Management Co will post $0.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Friday, May 19th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Wednesday, May 17th. Apartment Investment and Management’s payout ratio is presently 49.62%.

Several research analysts have commented on the company. Canaccord Genuity set a $48.00 target price on Apartment Investment and Management and gave the stock a “hold” rating in a research note on Tuesday, February 7th. BMO Capital Markets downgraded Apartment Investment and Management from a “market perform” rating to an “underperform” rating and set a $42.00 target price for the company. in a research note on Friday, February 17th. Barclays PLC raised their target price on Apartment Investment and Management from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. Mizuho downgraded Apartment Investment and Management from a “buy” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $45.00 in a research note on Monday, May 1st. Finally, Zacks Investment Research downgraded Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Apartment Investment and Management presently has an average rating of “Hold” and an average target price of $45.71.

In related news, insider Lisa R. Cohn sold 2,438 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $45.17, for a total transaction of $110,124.46. Following the completion of the transaction, the insider now directly owns 64,987 shares of the company’s stock, valued at $2,935,462.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Lisa R. Cohn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $46.72, for a total value of $467,200.00. Following the transaction, the insider now directly owns 54,987 shares of the company’s stock, valued at $2,568,992.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,743 shares of company stock valued at $944,016. 1.71% of the stock is owned by corporate insiders.

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.

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