Irenic Capital Management LP Sells 3,631,061 Shares of Apartment Investment and Management Company $AIV

Key Points

• Irenic Capital Management cut its Apartment Investment and Management (AIV) stake by 72.2% in the second quarter, selling 3.63 million shares and retaining 1.40 million shares worth approximately $4.15 million.
• Other institutional investors increased their positions, while institutional ownership overall stood at 83.26% of AIV’s outstanding shares.
• AIV received a “Sell” rating from Weiss Ratings and has an average “Sell” rating among analysts. The stock opened at $2.57, near its 12-month low of $2.49, with a market capitalization of about $373 million.

Irenic Capital Management LP decreased its holdings in Apartment Investment and Management Company (NYSE:AIV - Free Report) by 72.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,398,460 shares of the real estate investment trust's stock after selling 3,631,061 shares during the quarter. Irenic Capital Management LP owned about 0.96% of Apartment Investment and Management worth $4,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. FNY Investment Advisers LLC increased its position in Apartment Investment and Management by 315.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 16,600 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 12,600 shares during the period. Bank of America Corp DE lifted its position in shares of Apartment Investment and Management by 60.2% in the 1st quarter. Bank of America Corp DE now owns 211,981 shares of the real estate investment trust's stock worth $863,000 after purchasing an additional 79,660 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Apartment Investment and Management by 61.1% during the 1st quarter. Quantinno Capital Management LP now owns 79,255 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 30,065 shares in the last quarter. SummitTX Capital L.P. boosted its stake in shares of Apartment Investment and Management by 141.7% during the 1st quarter. SummitTX Capital L.P. now owns 2,010,275 shares of the real estate investment trust's stock valued at $8,182,000 after purchasing an additional 1,178,504 shares in the last quarter. Finally, Owl Creek Asset Management L.P. purchased a new position in shares of Apartment Investment and Management during the first quarter valued at about $12,304,000. Institutional investors own 83.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Apartment Investment and Management from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

Apartment Investment and Management Trading Up 1.2%

NYSE AIV opened at $2.57 on Friday. The firm has a market capitalization of $373.26 million, a PE ratio of 0.66 and a beta of 1.17. The stock's 50 day moving average is $2.69 and its 200 day moving average is $3.62. Apartment Investment and Management Company has a twelve month low of $2.49 and a twelve month high of $8.03. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.87.

About Apartment Investment and Management

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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