Owl Creek Asset Management L.P. Invests $12.30 Million in Apartment Investment and Management Company $AIV

Owl Creek Asset Management L.P. acquired a new position in Apartment Investment and Management Company (NYSE:AIV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,023,200 shares of the real estate investment trust’s stock, valued at approximately $12,304,000. Apartment Investment and Management comprises about 0.9% of Owl Creek Asset Management L.P.’s investment portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of AIV. Silver Point Capital L.P. bought a new position in Apartment Investment and Management during the 4th quarter worth $43,995,000. Weiss Asset Management LP grew its position in shares of Apartment Investment and Management by 552.0% in the 1st quarter. Weiss Asset Management LP now owns 8,150,456 shares of the real estate investment trust’s stock valued at $33,172,000 after buying an additional 6,900,456 shares during the last quarter. Irenic Capital Management LP acquired a new stake in shares of Apartment Investment and Management in the fourth quarter valued at about $23,109,000. Newtyn Management LLC raised its position in shares of Apartment Investment and Management by 49.5% during the third quarter. Newtyn Management LLC now owns 7,761,846 shares of the real estate investment trust’s stock worth $61,551,000 after acquiring an additional 2,571,374 shares during the last quarter. Finally, Western Standard LLC bought a new position in shares of Apartment Investment and Management during the fourth quarter worth about $9,979,000. 83.26% of the stock is currently owned by institutional investors and hedge funds.

Apartment Investment and Management Stock Performance

Shares of AIV opened at $2.65 on Monday. Apartment Investment and Management Company has a one year low of $2.59 and a one year high of $8.82. The company has a market cap of $380.51 million, a PE ratio of 0.68 and a beta of 1.18. The stock has a 50-day moving average of $3.22 and a 200-day moving average of $4.29. 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 Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 15th were paid a $1.30 dividend.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Apartment Investment and Management from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apartment Investment and Management has an average rating of “Hold” and a consensus target price of $10.00.

Apartment Investment and Management Profile

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.