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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Corton Capital Inc. increased its stake in shares of Apartment Investment and Management by 6.6% in the 4th quarter. Corton Capital Inc. now owns 18,140 shares of the real estate investment trust's stock valued at $165,000 after buying an additional 1,131 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Apartment Investment and Management by 0.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 161,046 shares of the real estate investment trust's stock valued at $1,462,000 after buying an additional 1,496 shares during the period. Arizona State Retirement System increased its stake in shares of Apartment Investment and Management by 4.1% in the 1st quarter. Arizona State Retirement System now owns 38,495 shares of the real estate investment trust's stock valued at $339,000 after buying an additional 1,507 shares during the period. Invesco Ltd. increased its stake in shares of Apartment Investment and Management by 0.7% in the 1st quarter. Invesco Ltd. now owns 278,369 shares of the real estate investment trust's stock valued at $2,450,000 after buying an additional 1,984 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Apartment Investment and Management by 5.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 52,544 shares of the real estate investment trust's stock valued at $462,000 after buying an additional 2,681 shares during the period. 83.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Apartment Investment and Management from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Wolfe Research upgraded Apartment Investment and Management from a "peer perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a report on Monday, August 4th.

Apartment Investment and Management Stock Up 1.2%

Shares of NYSE:AIV traded up $0.09 during midday trading on Friday, reaching $7.89. The company had a trading volume of 1,673,275 shares, compared to its average volume of 1,688,366. The company has a quick ratio of 1.34, a current ratio of 1.25 and a debt-to-equity ratio of 8.06. The business's 50 day moving average price is $8.49 and its 200 day moving average price is $8.40. The stock has a market cap of $1.12 billion, a PE ratio of -16.44 and a beta of 1.39. Apartment Investment and Management Company has a 1-year low of $6.89 and a 1-year high of $9.48.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last released its earnings results 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). The company had revenue of $52.76 million during the quarter, compared to analyst estimates of $54.62 million. Apartment Investment and Management had a negative net margin of 30.59% and a negative return on equity of 34.47%. During the same period in the prior year, the firm posted ($0.43) EPS. Research analysts forecast that Apartment Investment and Management Company will post -0.8 EPS for the current fiscal year.

Apartment Investment and Management Company 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.