Apartment Investment and Management Company (NYSE:AIV) Sees Large Decline in Short Interest

Apartment Investment and Management Company (NYSE:AIV) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 2,649,880 shares, a drop of 16.3% from the March 31st total of 3,166,420 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 1,495,837 shares, the days-to-cover ratio is presently 1.8 days.

Apartment Investment and Management Trading Up 0.8%

AIV stock opened at $4.29 on Friday. The stock has a market cap of $616.44 million, a price-to-earnings ratio of 1.10 and a beta of 1.29. The company has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $5.29. Apartment Investment and Management has a one year low of $3.93 and a one year high of $8.87. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.46 and a quick ratio of 3.46.

Apartment Investment and Management (NYSE:AIV) last posted its earnings results on Monday, March 2nd. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $2.19. The company had revenue of $34.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Apartment Investment and Management had a net margin of 316.79% and a return on equity of 9.05%.

Apartment Investment and Management Dividend Announcement

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

Hedge Funds Weigh In On Apartment Investment and Management

Several institutional investors and hedge funds have recently made changes to their positions in AIV. Creative Planning boosted its position in shares of Apartment Investment and Management by 16.4% in the second quarter. Creative Planning now owns 12,162 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 1,712 shares during the period. Daiwa Securities Group Inc. increased its position in Apartment Investment and Management by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 46,591 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 1,864 shares during the period. Quadrant Capital Group LLC increased its position in Apartment Investment and Management by 72.5% during the fourth quarter. Quadrant Capital Group LLC now owns 4,641 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,951 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in Apartment Investment and Management by 25.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,418 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Amundi boosted its holdings in Apartment Investment and Management by 3.6% in the 3rd quarter. Amundi now owns 69,627 shares of the real estate investment trust’s stock valued at $537,000 after purchasing an additional 2,396 shares during the period. Institutional investors and hedge funds own 83.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Apartment Investment and Management in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

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.