Bank of America Corp DE Sells 580,526 Shares of Apartment Investment and Management (NYSE:AIV)

Bank of America Corp DE lessened its position in Apartment Investment and Management (NYSE:AIV - Free Report) by 49.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 593,183 shares of the real estate investment trust's stock after selling 580,526 shares during the period. Bank of America Corp DE owned approximately 0.42% of Apartment Investment and Management worth $5,392,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Apartment Investment and Management during the fourth quarter valued at approximately $55,000. Xponance Inc. purchased a new position in shares of Apartment Investment and Management during the fourth quarter valued at approximately $93,000. Cerity Partners LLC purchased a new position in shares of Apartment Investment and Management during the fourth quarter valued at approximately $94,000. Cibc World Markets Corp purchased a new position in shares of Apartment Investment and Management during the fourth quarter valued at approximately $118,000. Finally, Metis Global Partners LLC boosted its position in shares of Apartment Investment and Management by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 14,945 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 83.26% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Apartment Investment and Management from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Apartment Investment and Management Stock Up 0.8%

Shares of NYSE:AIV traded up $0.06 during mid-day trading on Thursday, hitting $7.99. 391,803 shares of the company traded hands, compared to its average volume of 950,743. The stock has a market cap of $1.13 billion, a P/E ratio of -4.62 and a beta of 1.38. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 4.28. Apartment Investment and Management has a 12-month low of $6.89 and a 12-month high of $9.49. The stock has a 50-day moving average price of $7.99 and a two-hundred day moving average price of $8.52.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.10) EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 68.04% and a negative net margin of 119.76%. On average, equities research analysts forecast that Apartment Investment and Management will post -0.8 earnings per share for the current year.

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.