Weiss Asset Management LP Purchases 6,900,456 Shares of Apartment Investment and Management Company $AIV

Key Points

• Weiss Asset Management LP increased its stake in Apartment Investment and Management by 552% in the first quarter, buying 6.9 million additional shares and bringing its total holding to 8.15 million shares worth about $33.2 million.
• The stock is heavily owned by institutions, with institutional investors holding 83.26% of the company, while several other hedge funds also added to or initiated positions during recent quarters.
• AIV recently paid a special dividend of $1.30 per share, and the stock was trading near its 52-week low at $2.65; analysts currently have a consensus Hold rating with a $10.00 price target.

Weiss Asset Management LP lifted its position in shares of Apartment Investment and Management Company (NYSE:AIV - Free Report) by 552.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,150,456 shares of the real estate investment trust's stock after buying an additional 6,900,456 shares during the quarter. Apartment Investment and Management makes up 0.6% of Weiss Asset Management LP's holdings, making the stock its 22nd largest holding. Weiss Asset Management LP owned 5.67% of Apartment Investment and Management worth $33,172,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Apartment Investment and Management by 66.3% during the first quarter. AQR Capital Management LLC now owns 27,747 shares of the real estate investment trust's stock valued at $244,000 after acquiring an additional 11,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Apartment Investment and Management by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,692 shares of the real estate investment trust's stock worth $728,000 after acquiring an additional 3,635 shares during the period. Creative Planning boosted its stake in shares of Apartment Investment and Management by 16.4% in the second quarter. Creative Planning now owns 12,162 shares of the real estate investment trust's stock worth $105,000 after acquiring an additional 1,712 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Apartment Investment and Management during the second quarter worth about $204,000. Finally, Quantbot Technologies LP grew its position in shares of Apartment Investment and Management by 23.8% during the second quarter. Quantbot Technologies LP now owns 44,831 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 8,625 shares in the last quarter. Institutional investors own 83.26% of the company's stock.

Apartment Investment and Management Price Performance

Shares of NYSE:AIV opened at $2.65 on Friday. The firm has a market cap of $380.51 million, a price-to-earnings ratio of 0.68 and a beta of 1.18. The firm has a fifty day moving average price of $3.22 and a 200 day moving average price of $4.31. Apartment Investment and Management Company has a fifty-two week low of $2.59 and a fifty-two week high of $8.82. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.46 and a current ratio of 3.46.

Apartment Investment and Management Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.00.

Apartment Investment and Management 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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