Canada Pension Plan Investment Board raised its stake in shares of Apartment Investment and Management Co (NYSE:AIV) by 935.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 173,000 shares of the real estate investment trust’s stock after buying an additional 156,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Apartment Investment and Management were worth $7,634,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust grew its stake in shares of Apartment Investment and Management by 11.0% in the 3rd quarter. Amica Retiree Medical Trust now owns 12,318 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 1,222 shares during the last quarter. Amica Pension Fund Board of Trustees grew its stake in shares of Apartment Investment and Management by 10.8% in the 3rd quarter. Amica Pension Fund Board of Trustees now owns 78,644 shares of the real estate investment trust’s stock worth $3,471,000 after purchasing an additional 7,670 shares during the last quarter. Amica Mutual Insurance Co. grew its stake in shares of Apartment Investment and Management by 11.0% in the 3rd quarter. Amica Mutual Insurance Co. now owns 73,848 shares of the real estate investment trust’s stock worth $3,259,000 after purchasing an additional 7,330 shares during the last quarter. FMR LLC grew its stake in shares of Apartment Investment and Management by 1.1% in the 3rd quarter. FMR LLC now owns 6,312,251 shares of the real estate investment trust’s stock worth $278,559,000 after purchasing an additional 66,717 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Apartment Investment and Management by 44.1% in the 3rd quarter. FIL Ltd now owns 971,284 shares of the real estate investment trust’s stock worth $42,863,000 after purchasing an additional 297,317 shares during the last quarter.

AIV stock opened at $47.08 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.76. The company has a market cap of $7.36 billion, a P/E ratio of 19.15, a P/E/G ratio of 4.10 and a beta of 0.51. Apartment Investment and Management Co has a 52 week low of $37.97 and a 52 week high of $47.61.

Apartment Investment and Management (NYSE:AIV) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 EPS for the quarter, topping the consensus estimate of $0.61 by $3.00. The business had revenue of $242.48 million during the quarter, compared to analysts’ expectations of $239.80 million. Apartment Investment and Management had a net margin of 92.50% and a return on equity of 55.25%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. As a group, analysts anticipate that Apartment Investment and Management Co will post 2.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, November 15th. Apartment Investment and Management’s dividend payout ratio is currently 62.04%.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Monday, November 26th. ValuEngine upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Wells Fargo & Co set a $50.00 target price on shares of Apartment Investment and Management and gave the stock a “buy” rating in a report on Friday, November 16th. Jefferies Financial Group raised their target price on shares of Apartment Investment and Management from $42.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Finally, TheStreet upgraded shares of Apartment Investment and Management from a “c+” rating to a “b” rating in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.80.

In related news, insider Lisa R. Cohn sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $45.62, for a total transaction of $228,100.00. Following the completion of the sale, the insider now directly owns 73,754 shares in the company, valued at $3,364,657.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

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Apartment Investment and Management Company Profile

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 133 communities in 17 states and the District of Columbia.

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

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