Irenic Capital Management LP Increases Stake in Apartment Investment and Management Company $AIV

Key Points

• Irenic Capital Management LP increased its stake in Apartment Investment and Management significantly by 21.5%, owning approximately $40.77 million worth, which accounts for 6.2% of its portfolio.
• Apartment Investment and Management reported a quarterly loss with EPS of ($0.14), which missed analysts' estimates, while revenues totaled $52.76 million, also below expectations.
• The stock has received mixed ratings, with Wall Street Zen downgrading it to "sell," while Wolfe Research upgraded it to "outperform" with a target price of $10.00.

Irenic Capital Management LP grew its holdings in shares of Apartment Investment and Management Company (NYSE:AIV - Free Report) by 21.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,633,134 shares of the real estate investment trust's stock after buying an additional 820,539 shares during the period. Apartment Investment and Management accounts for approximately 6.2% of Irenic Capital Management LP's holdings, making the stock its 4th biggest position. Irenic Capital Management LP owned 3.26% of Apartment Investment and Management worth $40,772,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Apartment Investment and Management by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,340,629 shares of the real estate investment trust's stock worth $170,198,000 after purchasing an additional 212,813 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Apartment Investment and Management by 14.0% in the 4th quarter. Millennium Management LLC now owns 7,145,287 shares of the real estate investment trust's stock worth $64,951,000 after purchasing an additional 877,954 shares in the last quarter. Rush Island Management LP lifted its holdings in shares of Apartment Investment and Management by 156.7% during the fourth quarter. Rush Island Management LP now owns 4,543,774 shares of the real estate investment trust's stock valued at $41,303,000 after purchasing an additional 2,773,984 shares in the last quarter. Land & Buildings Investment Management LLC boosted its position in shares of Apartment Investment and Management by 77.2% during the fourth quarter. Land & Buildings Investment Management LLC now owns 3,074,160 shares of the real estate investment trust's stock valued at $27,944,000 after buying an additional 1,338,921 shares during the last quarter. Finally, Aew Capital Management L P bought a new stake in Apartment Investment and Management in the 1st quarter worth about $17,491,000. Hedge funds and other institutional investors own 83.26% of the company's stock.

Apartment Investment and Management Stock Performance

Shares of NYSE:AIV traded up $0.02 during mid-day trading on Thursday, reaching $7.78. 927,684 shares of the company traded hands, compared to its average volume of 1,123,755. The company's 50 day moving average price is $8.31 and its 200-day moving average price is $8.30. The firm has a market cap of $1.11 billion, a PE ratio of -16.20 and a beta of 1.46. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.25. Apartment Investment and Management Company has a 52 week low of $6.89 and a 52 week high of $9.41.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $52.76 million for the quarter, compared to the consensus estimate of $54.62 million. During the same quarter last year, the firm posted ($0.43) earnings per share. Apartment Investment and Management has set its FY 2025 guidance at 5.200-5.400 EPS. On average, equities analysts expect that Apartment Investment and Management Company will post -0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Apartment Investment and Management from a "peer perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a report on Monday, August 4th. Wall Street Zen downgraded Apartment Investment and Management from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $10.00.

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.