Owl Creek Asset Management L.P. Takes $12.30 Million Position in Apartment Investment and Management Company $AIV

Key Points

• Owl Creek Asset Management acquired 3.02 million AIV shares worth approximately $12.3 million, representing about 2.1% of Apartment Investment and Management and 0.9% of Owl Creek’s portfolio.
• Institutional investors collectively own 83.26% of AIV. The stock opened at $2.65, near its 12-month low of $2.59 and well below its 12-month high of $8.82.
• Aimco paid a special $1.30-per-share dividend, while analyst sentiment remains mixed: one analyst rates the stock Buy and another Sell, producing an overall “Hold” rating with a $10 average price target.

Owl Creek Asset Management L.P. 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 disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,023,200 shares of the real estate investment trust's stock, valued at approximately $12,304,000. Apartment Investment and Management accounts for about 0.9% of Owl Creek Asset Management L.P.'s portfolio, making the stock its 11th biggest holding. Owl Creek Asset Management L.P. owned about 2.10% of Apartment Investment and Management as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AIV. Quadrant Capital Group LLC raised its position in shares of Apartment Investment and Management by 72.5% in the fourth quarter. Quadrant Capital Group LLC now owns 4,641 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 1,951 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Apartment Investment and Management by 2,561.7% in the 4th quarter. Parallel Advisors LLC now owns 4,658 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 4,483 shares in the last quarter. CWM LLC boosted its holdings in shares of Apartment Investment and Management by 163.7% in the 4th quarter. CWM LLC now owns 5,730 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 3,557 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Apartment Investment and Management in the 2nd quarter valued at $59,000. Finally, Bessemer Group Inc. raised its holdings in shares of Apartment Investment and Management by 47,612.5% during the 1st quarter. Bessemer Group Inc. now owns 7,634 shares of the real estate investment trust's stock worth $31,000 after buying an additional 7,618 shares in the last quarter. Institutional investors and hedge funds own 83.26% of the company's stock.

Apartment Investment and Management Price Performance

Shares of AIV opened at $2.65 on Monday. Apartment Investment and Management Company has a 12-month low of $2.59 and a 12-month high of $8.82. The business has a 50-day simple moving average of $3.22 and a two-hundred day simple moving average of $4.29. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.87. The stock has a market cap of $380.51 million, a PE ratio of 0.68 and a beta of 1.18.

Apartment Investment and Management Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 15th were issued a $1.30 dividend.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.00.

Apartment Investment and Management Company Profile

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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