Millennium Management LLC Cuts Stock Position in Apartment Investment and Management Company $AIV

Key Points

• Millennium Management LLC reduced its stake in Apartment Investment and Management Company by 19.3%, owning approximately 4.06% of the company after selling 1,379,745 shares.
• The company reported a loss of $0.14 earnings per share (EPS) in its latest quarterly earnings, missing analysts' expectations of ($0.11) and had revenue of $52.76 million.
• Wall Street analysts have mixed opinions on the stock, with one analyst rating it as a Buy and a consensus rating of "Buy," but with recent revisions, including a downgrade to "sell" by one firm.

Millennium Management LLC lowered its holdings in shares of Apartment Investment and Management Company (NYSE:AIV - Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,765,542 shares of the real estate investment trust's stock after selling 1,379,745 shares during the quarter. Millennium Management LLC owned 4.06% of Apartment Investment and Management worth $50,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AIV. Point72 Asset Management L.P. bought a new position in Apartment Investment and Management during the fourth quarter valued at $77,000. GAMMA Investing LLC lifted its position in Apartment Investment and Management by 980.0% during the first quarter. GAMMA Investing LLC now owns 9,126 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 8,281 shares during the last quarter. Covestor Ltd lifted its position in Apartment Investment and Management by 276.5% during the first quarter. Covestor Ltd now owns 9,355 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 6,870 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Apartment Investment and Management in the 1st quarter worth about $85,000. Finally, Principal Financial Group Inc. purchased a new stake in Apartment Investment and Management in the 1st quarter worth about $89,000. Institutional investors own 83.26% of the company's stock.

Apartment Investment and Management Stock Down 1.2%

Shares of NYSE:AIV traded down $0.09 during trading hours on Friday, hitting $7.50. The company's stock had a trading volume of 1,305,663 shares, compared to its average volume of 1,321,835. Apartment Investment and Management Company has a 52 week low of $6.89 and a 52 week high of $9.41. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -15.63 and a beta of 1.46. The firm's fifty day moving average price is $8.16 and its 200 day moving average price is $8.23.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The real estate investment trust reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Apartment Investment and Management had a negative net margin of 30.59% and a negative return on equity of 34.47%. The business had revenue of $52.76 million during the quarter, compared to the consensus estimate of $54.62 million. During the same quarter in the prior year, the firm posted ($0.43) EPS. Apartment Investment and Management has set its FY 2025 guidance at 5.200-5.400 EPS. As a group, research analysts expect that Apartment Investment and Management Company will post -0.8 EPS for the current year.

Analyst Ratings Changes

AIV has been the subject of several recent analyst reports. Wall Street Zen lowered Apartment Investment and Management from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Wolfe Research upgraded 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 report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Apartment Investment and Management currently has a consensus rating of "Buy" and an average price target of $10.00.

About Apartment Investment and Management

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.