Westpac Banking Corp Sells 14,520 Shares of Apartment Investment and Management Co (AIV)

Westpac Banking Corp trimmed its holdings in shares of Apartment Investment and Management Co (NYSE:AIV) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,308 shares of the real estate investment trust’s stock after selling 14,520 shares during the period. Westpac Banking Corp’s holdings in Apartment Investment and Management were worth $18,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Apartment Investment and Management by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 304,769 shares of the real estate investment trust’s stock worth $13,449,000 after purchasing an additional 1,201 shares in the last quarter. Amica Retiree Medical Trust increased its stake in shares of Apartment Investment and Management by 11.0% during the 3rd quarter. Amica Retiree Medical Trust now owns 12,318 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 1,222 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Apartment Investment and Management by 25.4% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,035 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 1,830 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Apartment Investment and Management by 2.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 74,404 shares of the real estate investment trust’s stock worth $3,283,000 after acquiring an additional 1,900 shares during the period. Finally, Laurion Capital Management LP grew its stake in Apartment Investment and Management by 22.5% in the 2nd quarter. Laurion Capital Management LP now owns 10,500 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 1,930 shares during the period.

Shares of AIV opened at $46.02 on Monday. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 3.94 and a beta of 0.44. Apartment Investment and Management Co has a fifty-two week low of $37.97 and a fifty-two week high of $46.66. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.76.

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 for the quarter, beating the Zacks’ consensus estimate of $0.61 by $3.00. The company had revenue of $242.48 million for the quarter, compared to analyst estimates of $239.80 million. Apartment Investment and Management had a net margin of 92.50% and a return on equity of 55.25%. Apartment Investment and Management’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Sell-side analysts forecast that Apartment Investment and Management Co will post 2.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.30%. Apartment Investment and Management’s dividend payout ratio (DPR) is presently 62.04%.

AIV has been the subject of several recent analyst reports. Scotiabank initiated coverage on shares of Apartment Investment and Management in a research note on Tuesday, October 16th. They issued an “underperform” rating for the company. Wells Fargo & Co set a $50.00 target price on shares of Apartment Investment and Management and gave the stock a “buy” rating in a research note on Friday, November 16th. Mizuho reaffirmed a “hold” rating and issued a $44.00 target price on shares of Apartment Investment and Management in a research note on Monday, August 6th. TheStreet raised shares of Apartment Investment and Management from a “c+” rating to a “b” rating in a research note on Thursday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of Apartment Investment and Management from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.22.

In other Apartment Investment and Management news, insider Lisa R. Cohn sold 5,000 shares of Apartment Investment and Management stock in a transaction on Friday, November 9th. The shares were sold at an average price of $45.62, for a total value of $228,100.00. Following the transaction, the insider now owns 73,754 shares in the company, valued at approximately $3,364,657.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

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About Apartment Investment and Management

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

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