Apartment Investment and Management Co (NYSE:AIV) Short Interest Up 27.6% in September

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Apartment Investment and Management Co (NYSE:AIV) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,500,000 shares, an increase of 27.6% from the August 30th total of 1,960,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 2.3 days.

Apartment Investment and Management stock traded up $0.08 during mid-day trading on Monday, hitting $53.63. The company’s stock had a trading volume of 30,730 shares, compared to its average volume of 1,077,134. The firm’s 50 day moving average is $51.58 and its 200 day moving average is $50.65. The company has a market cap of $7.94 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 4.74 and a beta of 0.54. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.22 and a quick ratio of 0.22. Apartment Investment and Management has a 52-week low of $41.73 and a 52-week high of $53.92.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Apartment Investment and Management had a return on equity of 49.61% and a net margin of 98.61%. The business had revenue of $224.20 million during the quarter, compared to analysts’ expectations of $224.36 million. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, analysts forecast that Apartment Investment and Management will post 2.48 EPS for the current year.

Several brokerages recently issued reports on AIV. Zelman & Associates raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. SunTrust Banks increased their price objective on Apartment Investment and Management from $49.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Barclays set a $53.00 price objective on Apartment Investment and Management and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets raised Apartment Investment and Management from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $58.00 in a research note on Friday, September 6th. Finally, ValuEngine downgraded Apartment Investment and Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.17.

In related news, Director Kathleen M. Nelson sold 2,400 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $50.16, for a total value of $120,384.00. Following the completion of the sale, the director now directly owns 44,329 shares of the company’s stock, valued at approximately $2,223,542.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. increased its position in Apartment Investment and Management by 10.3% in the 3rd quarter. Pacer Advisors Inc. now owns 16,052 shares of the real estate investment trust’s stock worth $837,000 after purchasing an additional 1,503 shares during the last quarter. Manning & Napier Group LLC increased its position in Apartment Investment and Management by 30.1% in the 3rd quarter. Manning & Napier Group LLC now owns 154,690 shares of the real estate investment trust’s stock worth $8,065,000 after purchasing an additional 35,830 shares during the last quarter. Hexavest Inc. increased its position in Apartment Investment and Management by 1.0% in the 3rd quarter. Hexavest Inc. now owns 446,285 shares of the real estate investment trust’s stock worth $23,269,000 after purchasing an additional 4,582 shares during the last quarter. Denali Advisors LLC acquired a new position in Apartment Investment and Management in the 3rd quarter worth about $443,000. Finally, Uniplan Investment Counsel Inc. increased its position in Apartment Investment and Management by 1.4% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 608,371 shares of the real estate investment trust’s stock worth $30,491,000 after purchasing an additional 8,413 shares during the last quarter. 95.72% of the stock is currently owned by institutional investors.

About Apartment Investment and Management

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.

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