SummitTX Capital L.P. Buys 1,178,504 Shares of Apartment Investment and Management Company $AIV

Key Points

• SummitTX Capital increased its Aimco (NYSE: AIV) stake by 141.7%, purchasing 1,178,504 additional shares in the first quarter to hold 2,010,275 shares, or about 1.4% of the company.
• Several other hedge funds also built significant positions, and institutional investors now own 83.26% of AIV’s outstanding shares.
• Aimco shares opened at $2.65, near their 12-month low, while analysts maintain a consensus “Hold” rating with a $10 average price target. The company also recently paid a special $1.30-per-share dividend.

SummitTX Capital L.P. boosted its position in shares of Apartment Investment and Management Company (NYSE:AIV - Free Report) by 141.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,010,275 shares of the real estate investment trust's stock after buying an additional 1,178,504 shares during the quarter. SummitTX Capital L.P. owned approximately 1.40% of Apartment Investment and Management worth $8,182,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Silver Point Capital L.P. acquired a new stake in shares of Apartment Investment and Management in the 4th quarter valued at $43,995,000. Weiss Asset Management LP lifted its stake in shares of Apartment Investment and Management by 552.0% during the first quarter. Weiss Asset Management LP now owns 8,150,456 shares of the real estate investment trust's stock valued at $33,172,000 after acquiring an additional 6,900,456 shares during the period. Irenic Capital Management LP acquired a new position in shares of Apartment Investment and Management during the fourth quarter valued at $23,109,000. Owl Creek Asset Management L.P. bought a new position in Apartment Investment and Management in the first quarter valued at about $12,304,000. Finally, Newtyn Management LLC boosted its holdings in Apartment Investment and Management by 49.5% in the third quarter. Newtyn Management LLC now owns 7,761,846 shares of the real estate investment trust's stock valued at $61,551,000 after acquiring an additional 2,571,374 shares during the last quarter. 83.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Apartment Investment and Management from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.00.

Apartment Investment and Management Trading Up 0.2%

NYSE 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 stock has a 50-day simple moving average of $3.22 and a 200 day simple moving average of $4.29. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $380.51 million, a PE ratio of 0.68 and a beta of 1.18.

Apartment Investment and Management Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 15th were paid a $1.30 dividend.

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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