Apartment Investment and Management (NYSE:AIV) Sets New 52-Week Low – Here’s What Happened

Apartment Investment and Management Company (NYSE:AIV) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.03 and last traded at $4.0350, with a volume of 172292 shares. The stock had previously closed at $4.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Apartment Investment and Management in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

Apartment Investment and Management Price Performance

The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.87. The firm’s 50-day moving average price is $5.24 and its 200-day moving average price is $5.92. The stock has a market capitalization of $583.39 million, a PE ratio of 1.05 and a beta of 1.35.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of ($0.11) by $2.19. Apartment Investment and Management had a return on equity of 9.05% and a net margin of 316.79%.The company had revenue of $34.64 million during the quarter, compared to analyst estimates of $56.65 million. On average, equities analysts forecast that Apartment Investment and Management Company will post -0.8 EPS for the current fiscal year.

Apartment Investment and Management Dividend Announcement

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

Institutional Trading of Apartment Investment and Management

A number of institutional investors have recently bought and sold shares of the stock. Long Pond Capital LP purchased a new stake in shares of Apartment Investment and Management in the second quarter valued at $14,686,000. Union Square Park Capital Management LLC bought a new stake in shares of Apartment Investment and Management in the 3rd quarter worth about $2,062,000. Alpha Wave Global LP boosted its stake in shares of Apartment Investment and Management by 81.8% during the 2nd quarter. Alpha Wave Global LP now owns 323,578 shares of the real estate investment trust’s stock worth $2,799,000 after purchasing an additional 145,562 shares during the period. Norges Bank purchased a new position in shares of Apartment Investment and Management during the 2nd quarter worth about $6,405,000. Finally, Voya Investment Management LLC grew its holdings in Apartment Investment and Management by 33.5% during the 3rd quarter. Voya Investment Management LLC now owns 632,945 shares of the real estate investment trust’s stock valued at $5,019,000 after purchasing an additional 158,767 shares during the last quarter. 83.26% of the stock is currently owned by institutional investors.

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.