74,861 Shares in Apartment Investment and Management Company (NYSE:AIV) Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has taken a new position in Apartment Investment and Management Company, acquiring 74,861 shares valued at approximately $659,000.
• Other institutional investors, including Bleakley Financial Group LLC and Arizona State Retirement System, have also increased their holdings significantly during the first quarter.
• Apartment Investment and Management reported a negative earnings per share of ($0.10) for the quarter but exceeded analyst expectations by beating the estimate of ($0.12).

Allianz Asset Management GmbH purchased a new position in shares of Apartment Investment and Management Company (NYSE:AIV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 74,861 shares of the real estate investment trust's stock, valued at approximately $659,000. Allianz Asset Management GmbH owned approximately 0.05% of Apartment Investment and Management as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Corton Capital Inc. raised its holdings in shares of Apartment Investment and Management by 6.6% in the 4th quarter. Corton Capital Inc. now owns 18,140 shares of the real estate investment trust's stock valued at $165,000 after purchasing an additional 1,131 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Apartment Investment and Management by 0.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 161,046 shares of the real estate investment trust's stock valued at $1,462,000 after purchasing an additional 1,496 shares during the period. Arizona State Retirement System raised its holdings in shares of Apartment Investment and Management by 4.1% in the 1st quarter. Arizona State Retirement System now owns 38,495 shares of the real estate investment trust's stock valued at $339,000 after purchasing an additional 1,507 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Apartment Investment and Management by 5.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 52,544 shares of the real estate investment trust's stock valued at $462,000 after purchasing an additional 2,681 shares during the period. Finally, Saybrook Capital NC raised its holdings in shares of Apartment Investment and Management by 2.6% in the 1st quarter. Saybrook Capital NC now owns 159,500 shares of the real estate investment trust's stock valued at $1,404,000 after purchasing an additional 4,000 shares during the period. 83.26% of the stock is owned by institutional investors.

Apartment Investment and Management Stock Performance

Shares of NYSE:AIV traded up $0.08 on Tuesday, reaching $8.55. 252,863 shares of the company's stock were exchanged, compared to its average volume of 996,838. The company has a fifty day moving average of $8.49 and a 200-day moving average of $8.46. Apartment Investment and Management Company has a twelve month low of $6.89 and a twelve month high of $9.48. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.10 and a beta of 1.39. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.94.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $52.35 million for the quarter, compared to analyst estimates of $53.64 million. Apartment Investment and Management had a negative net margin of 50.37% and a negative return on equity of 45.41%. On average, research analysts predict that Apartment Investment and Management Company will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AIV. Wall Street Zen lowered shares of Apartment Investment and Management from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Wolfe Research upgraded shares of Apartment Investment and Management from a "peer perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research note on Monday.

Apartment Investment and Management Profile

Apartment Investment & Management Co operates as a real estate investment trust that engages in the acquisition, ownership, management and redevelopment of apartment properties. The company was founded in 1975 and is headquartered in Denver, CO.