Hsbc Holdings PLC Sells 52,032 Shares of Apartment Investment and Management Co (AIV)

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Hsbc Holdings PLC trimmed its position in Apartment Investment and Management Co (NYSE:AIV) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 139,913 shares of the real estate investment trust’s stock after selling 52,032 shares during the period. Hsbc Holdings PLC’s holdings in Apartment Investment and Management were worth $6,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AIV. Signition LP bought a new stake in Apartment Investment and Management in the second quarter worth $563,000. Oppenheimer Asset Management Inc. boosted its holdings in Apartment Investment and Management by 21.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 39,816 shares of the real estate investment trust’s stock worth $1,758,000 after acquiring an additional 6,949 shares in the last quarter. Paloma Partners Management Co bought a new stake in Apartment Investment and Management in the second quarter worth $1,654,000. Russell Investments Group Ltd. boosted its holdings in Apartment Investment and Management by 1.3% in the third quarter. Russell Investments Group Ltd. now owns 753,331 shares of the real estate investment trust’s stock worth $33,026,000 after acquiring an additional 9,675 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Apartment Investment and Management by 12.3% in the second quarter. Sei Investments Co. now owns 453,700 shares of the real estate investment trust’s stock worth $19,191,000 after acquiring an additional 49,523 shares in the last quarter.

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

Shares of NYSE:AIV opened at $47.08 on Friday. The firm has a market cap of $7.36 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.10 and a beta of 0.51. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.43 and a current ratio of 0.43. Apartment Investment and Management Co has a 1 year low of $37.97 and a 1 year high of $47.61.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $3.00. The firm had revenue of $242.48 million for the quarter, compared to the consensus estimate of $239.80 million. Apartment Investment and Management had a return on equity of 55.25% and a net margin of 92.50%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, research analysts predict that Apartment Investment and Management Co will post 2.5 earnings per share for the current fiscal year.

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

Several equities research analysts have commented on AIV shares. Scotiabank started coverage on Apartment Investment and Management in a report on Tuesday, October 16th. They issued an “underperform” rating on the stock. TheStreet raised Apartment Investment and Management from a “c+” rating to a “b” rating in a report on Thursday, November 1st. Jefferies Financial Group boosted their target price on Apartment Investment and Management from $42.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research downgraded Apartment Investment and Management from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Finally, ValuEngine raised Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.80.

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Apartment Investment and Management 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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Want to see what other hedge funds are holding AIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apartment Investment and Management Co (NYSE:AIV).

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

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