Apartment Investment and Management Company (NYSE:AIV) Sees Large Decline in Short Interest

Key Points

• Short interest fell 16.3% to 2,649,880 shares as of April 15, representing about 1.9% of shares outstanding and a short-interest ratio of 1.8 days.
• Institutional investors own a large majority of the stock (83.26%), with Newtyn Management boosting its stake to 7,761,846 shares and several hedge funds establishing or increasing positions.
• AIMCO reported a quarterly EPS of $2.08, beating the consensus by $2.19, and recently paid a special dividend of $1.45 per share.

Apartment Investment and Management Company (NYSE:AIV - Get Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 2,649,880 shares, a decrease of 16.3% from the March 31st total of 3,166,420 shares. Based on an average trading volume of 1,495,837 shares, the short-interest ratio is presently 1.8 days. Currently, 1.9% of the company's stock are sold short.

Institutional Trading of Apartment Investment and Management

A number of hedge funds and other institutional investors have recently modified their holdings of AIV. Newtyn Management LLC boosted its position in 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 valued at $61,551,000 after purchasing an additional 2,571,374 shares during the last quarter. Silver Point Capital L.P. bought a new stake in shares of Apartment Investment and Management during the 4th quarter worth approximately $43,995,000. Irenic Capital Management LP acquired a new stake in shares of Apartment Investment and Management in the 4th quarter valued at approximately $23,109,000. Geode Capital Management LLC boosted its holdings in shares of Apartment Investment and Management by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,382,389 shares of the real estate investment trust's stock valued at $20,091,000 after buying an additional 52,760 shares during the last quarter. Finally, Argosy Lionbridge Management LLC grew its stake in shares of Apartment Investment and Management by 8.2% in the third quarter. Argosy Lionbridge Management LLC now owns 2,913,134 shares of the real estate investment trust's stock valued at $23,101,000 after buying an additional 220,481 shares in the last quarter. Institutional investors and hedge funds own 83.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Apartment Investment and Management in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.00.

Apartment Investment and Management Trading Up 0.8%

NYSE AIV opened at $4.29 on Friday. The stock has a market capitalization of $616.44 million, a price-to-earnings ratio of 1.10 and a beta of 1.29. Apartment Investment and Management has a 52 week low of $3.93 and a 52 week high of $8.87. The stock's 50 day moving average price is $4.32 and its two-hundred day moving average price is $5.29. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.46 and a current ratio of 3.46.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $2.19. The company had revenue of $34.64 million for the quarter, compared to the consensus estimate of $56.65 million. Apartment Investment and Management had a net margin of 316.79% and a return on equity of 9.05%.

Apartment Investment and Management Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $1.45 per share. The ex-dividend date was Friday, February 27th.

Apartment Investment and Management Company 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.

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