Kayne Anderson Rudnick Investment Management LLC Has $2.42 Million Holdings in Apartment Investment and Management Company (NYSE:AIV)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Apartment Investment and Management Company (NYSE:AIV) by 0.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 56,354 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Apartment Investment and Management were worth $2,422,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AIV. Israel Discount Bank of New York acquired a new stake in shares of Apartment Investment and Management in the first quarter valued at $115,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Apartment Investment and Management by 190.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 1,900 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Apartment Investment and Management in the first quarter valued at $166,000. Koch Industries Inc. acquired a new stake in shares of Apartment Investment and Management in the first quarter valued at $234,000. Finally, Meadow Creek Investment Management LLC lifted its holdings in shares of Apartment Investment and Management by 12.3% in the first quarter. Meadow Creek Investment Management LLC now owns 5,856 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 640 shares during the period. Institutional investors own 98.30% of the company’s stock.

In other news, EVP Keith M. Kimmel sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the executive vice president now owns 28,481 shares of the company’s stock, valued at approximately $1,310,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on AIV. BidaskClub upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Mizuho lowered Apartment Investment and Management from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $45.00 to $42.00 in a report on Monday, July 10th. Canaccord Genuity set a $50.00 target price on Apartment Investment and Management and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Barclays PLC cut their target price on Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Finally, UBS AG lowered Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.90.

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Apartment Investment and Management Company (NYSE:AIV) opened at 44.75 on Friday. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 35.24 and a beta of 0.45. Apartment Investment and Management Company has a 52-week low of $39.66 and a 52-week high of $47.91. The company’s 50-day moving average price is $45.62 and its 200 day moving average price is $44.29.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $246.24 million for the quarter, compared to analysts’ expectations of $240.78 million. Apartment Investment and Management had a net margin of 20.64% and a return on equity of 12.46%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities analysts predict that Apartment Investment and Management Company will post $0.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 18th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.22%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 113.39%.

Apartment Investment and Management Company Profile

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

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

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