Great Lakes Advisors LLC cut its stake in shares of Apartment Investment and Management Co. (NYSE:AIV) by 20.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,148 shares of the real estate investment trust’s stock after selling 36,608 shares during the period. Great Lakes Advisors LLC’s holdings in Apartment Investment and Management were worth $6,480,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Utah Retirement Systems increased its stake in Apartment Investment and Management by 1.2% in the third quarter. Utah Retirement Systems now owns 34,239 shares of the real estate investment trust’s stock valued at $1,572,000 after buying an additional 400 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in Apartment Investment and Management by 11.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 13,185 shares of the real estate investment trust’s stock valued at $606,000 after buying an additional 1,402 shares in the last quarter. Ngam Advisors L.P. increased its stake in Apartment Investment and Management by 32.5% in the third quarter. Ngam Advisors L.P. now owns 21,059 shares of the real estate investment trust’s stock valued at $967,000 after buying an additional 5,163 shares in the last quarter. US Bancorp DE increased its stake in Apartment Investment and Management by 3.4% in the third quarter. US Bancorp DE now owns 66,700 shares of the real estate investment trust’s stock valued at $3,062,000 after buying an additional 2,182 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Apartment Investment and Management by 2.7% in the third quarter. UBS Asset Management Americas Inc. now owns 278,312 shares of the real estate investment trust’s stock valued at $12,778,000 after buying an additional 7,317 shares in the last quarter.

Institutional Ownership by Quarter for Apartment Investment and Management (NYSE:AIV)

Apartment Investment and Management Co. (NYSE:AIV) traded up 0.36% during trading on Wednesday, reaching $42.20. The company had a trading volume of 1,408,579 shares. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 20.41 and a beta of 0.45. The company has a 50-day moving average price of $42.55 and a 200 day moving average price of $43.58. Apartment Investment and Management Co. has a one year low of $34.97 and a one year high of $47.91.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $244.12 million for the quarter, compared to the consensus estimate of $239.45 million. Apartment Investment and Management had a return on equity of 19.95% and a net margin of 33.39%. Apartment Investment and Management’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. Analysts expect that Apartment Investment and Management Co. will post $2.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Friday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.14%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 64.08%.

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Several analysts have issued reports on the company. JPMorgan Chase & Co. reissued a “hold” rating and issued a $45.00 price target on shares of Apartment Investment and Management in a research note on Wednesday, November 16th. Zacks Investment Research raised Apartment Investment and Management from a “sell” rating to a “hold” rating in a research report on Monday, November 14th. Mizuho raised Apartment Investment and Management from a “neutral” rating to a “buy” rating and lifted their target price for the company from $48.00 to $49.00 in a research report on Monday, October 31st. JMP Securities downgraded Apartment Investment and Management from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 20th. Finally, Canaccord Genuity lifted their target price on Apartment Investment and Management from $41.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.78.

In related news, insider Keith M. Kimmel sold 3,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $39.81, for a total value of $119,430.00. Following the sale, the insider now owns 35,718 shares in the company, valued at approximately $1,421,933.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.71% of the company’s stock.

Apartment Investment and Management Company Profile

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust. The Company, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. Its segments include conventional real estate and affordable real estate.

5 Day Chart for NYSE:AIV

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