Pacer Advisors Inc. increased its stake in shares of Apartment Investment and Management Company (NYSE:AIV) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,898 shares of the real estate investment trust’s stock after buying an additional 4,012 shares during the period. Pacer Advisors Inc.’s holdings in Apartment Investment and Management were worth $1,285,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AIV. Utah Retirement Systems boosted its stake in Apartment Investment and Management by 0.3% in the second quarter. Utah Retirement Systems now owns 35,735 shares of the real estate investment trust’s stock valued at $1,535,000 after buying an additional 96 shares during the period. GAM Holding AG boosted its stake in Apartment Investment and Management by 3.0% in the second quarter. GAM Holding AG now owns 13,373 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 392 shares during the period. Federated Investors Inc. PA boosted its stake in Apartment Investment and Management by 753.3% in the second quarter. Federated Investors Inc. PA now owns 32,478 shares of the real estate investment trust’s stock valued at $1,396,000 after buying an additional 28,672 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Apartment Investment and Management by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 249,653 shares of the real estate investment trust’s stock valued at $10,728,000 after buying an additional 648 shares during the period. Finally, Legal & General Group Plc boosted its stake in Apartment Investment and Management by 6.4% in the second quarter. Legal & General Group Plc now owns 486,297 shares of the real estate investment trust’s stock valued at $20,896,000 after buying an additional 29,182 shares during the period. Institutional investors own 98.42% of the company’s stock.

Apartment Investment and Management Company (AIV) opened at 45.75 on Monday. Apartment Investment and Management Company has a 52-week low of $39.66 and a 52-week high of $47.91. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 36.02 and a beta of 0.44. The company’s 50-day moving average price is $44.69 and its 200-day moving average price is $44.30.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $246.24 million for the quarter, compared to analyst estimates of $240.78 million. Apartment Investment and Management had a net margin of 20.64% and a return on equity of 12.46%. Apartment Investment and Management’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Equities research analysts expect that Apartment Investment and Management Company will post $0.50 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.15%. Apartment Investment and Management’s dividend payout ratio (DPR) is 113.39%.

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Several equities research analysts have weighed in on the company. BidaskClub upgraded Apartment Investment and Management from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Canaccord Genuity set a $50.00 price objective on Apartment Investment and Management and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Barclays PLC dropped their price objective on Apartment Investment and Management from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. JMP Securities upgraded Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a report on Monday, July 10th. Finally, Bank of America Corporation cut Apartment Investment and Management from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.88.

In other news, EVP Keith M. Kimmel sold 10,000 shares of the business’s 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 directly owns 28,481 shares in the company, valued at $1,310,126. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

About Apartment Investment and Management

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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