Cubist Systematic Strategies LLC Has $201,000 Stake in Apartment Investment and Management Company (AIV)

Cubist Systematic Strategies LLC cut its position in Apartment Investment and Management Company (NYSE:AIV) by 75.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,667 shares of the real estate investment trust’s stock after selling 14,620 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Apartment Investment and Management were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake 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 purchasing an additional 1,900 shares during the period. Schroder Investment Management Group purchased a new position in shares of Apartment Investment and Management in the second quarter valued at $124,000. Raymond James Trust N.A. purchased a new position in shares of Apartment Investment and Management in the second quarter valued at $217,000. Shelton Capital Management purchased a new position in shares of Apartment Investment and Management in the second quarter valued at $246,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Apartment Investment and Management by 8.6% in the second quarter. LS Investment Advisors LLC now owns 6,615 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

AIV has been the topic of a number of research analyst reports. JMP Securities upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 price objective on the stock in a research note on Monday, July 10th. Mizuho downgraded shares of Apartment Investment and Management from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $45.00 to $42.00 in a research note on Monday, July 10th. BidaskClub downgraded shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Barclays PLC reduced their price objective on shares of Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.90.

Apartment Investment and Management Company (NYSE AIV) opened at $44.22 on Friday. The stock has a market capitalization of $6.85 billion, a PE ratio of 18.02, a PEG ratio of 2.97 and a beta of 0.47. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.51 and a current ratio of 0.59.

Apartment Investment and Management (NYSE:AIV) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.51). Apartment Investment and Management had a net margin of 21.36% and a return on equity of 13.81%. The firm had revenue of $254.64 million during the quarter, compared to the consensus estimate of $249.17 million. During the same period in the prior year, the business earned $0.54 EPS. sell-side analysts forecast that Apartment Investment and Management Company will post 2.44 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Thursday, November 16th. Apartment Investment and Management’s dividend payout ratio is 109.92%.

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In other news, CEO Terry Considine sold 111,577 shares of Apartment Investment and Management stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $44.01, for a total value of $4,910,503.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Keith M. Kimmel sold 10,000 shares of Apartment Investment and Management stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,481 shares in the company, valued at approximately $1,310,126. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Apartment Investment and Management 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.

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

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