Vision Capital Corp Makes New Investment in Apartment Investment and Management Company (NYSE:AIV)

Key Points

• Vision Capital Corp has acquired a new stake in Apartment Investment and Management Company (NYSE:AIV), purchasing 248,780 shares valued at approximately $2.19 million, making it the 14th largest holding in its portfolio.
• Apartment Investment and Management's stock has experienced a decline of 3.9%, with shares currently trading at $7.60, amid a market capitalization of $1.08 billion.
• Analysts recently adjusted their ratings, with Wolfe Research upgrading the stock to “outperform” with a price target of $10.00, while Wall Street Zen downgraded it to a “sell” rating.

Vision Capital Corp bought a new position in Apartment Investment and Management Company (NYSE:AIV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 248,780 shares of the real estate investment trust's stock, valued at approximately $2,189,000. Apartment Investment and Management makes up approximately 0.5% of Vision Capital Corp's investment portfolio, making the stock its 14th biggest position. Vision Capital Corp owned about 0.18% of Apartment Investment and Management at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in Apartment Investment and Management during the fourth quarter worth about $77,000. GAMMA Investing LLC raised its stake in shares of Apartment Investment and Management by 980.0% during the 1st quarter. GAMMA Investing LLC now owns 9,126 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 8,281 shares during the period. Covestor Ltd raised its stake in shares of Apartment Investment and Management by 276.5% during the 1st quarter. Covestor Ltd now owns 9,355 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 6,870 shares during the period. New Age Alpha Advisors LLC bought a new position in Apartment Investment and Management in the 1st quarter worth about $85,000. Finally, Principal Financial Group Inc. bought a new position in Apartment Investment and Management in the 1st quarter worth about $89,000. 83.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIV. Wolfe Research raised Apartment Investment and Management from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a research note 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.

Apartment Investment and Management Price Performance

Shares of AIV stock traded up $0.09 during trading hours on Friday, hitting $7.89. The stock had a trading volume of 1,673,275 shares, compared to its average volume of 1,688,366. Apartment Investment and Management Company has a one year low of $6.89 and a one year high of $9.48. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.25 and a quick ratio of 1.34. The stock's 50-day moving average price is $8.49 and its two-hundred day moving average price is $8.41. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -16.44 and a beta of 1.39.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Apartment Investment and Management had a negative return on equity of 34.47% and a negative net margin of 30.59%. The business had revenue of $52.76 million during the quarter, compared to the consensus estimate of $54.62 million. During the same period last year, the firm earned ($0.43) EPS. Equities analysts forecast that Apartment Investment and Management Company will post -0.8 EPS 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.