Short Interest in Apartment Investment and Management Company (NYSE:AIV) Decreases By 30.5%

Key Points

• Short interest fell 30.5% to 3,366,174 shares as of Feb. 27, representing about 2.4% of the stock and a days-to-cover ratio of 0.3 days.
• Q4 results showed EPS of $2.08, beating estimates by $2.19 while revenue of $34.64M missed expectations; the company also paid a $1.45 special dividend on March 13.
• Shares traded at $4.21 near a 52-week low of $4.19, the company has a market cap of roughly $605M, a consensus "Hold" rating with a $10 target, and about 83% institutional ownership.

Apartment Investment and Management Company (NYSE:AIV - Get Free Report) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 3,366,174 shares, a decrease of 30.5% from the February 12th total of 4,840,764 shares. Currently, 2.4% of the company's stock are short sold. Based on an average daily volume of 9,823,720 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 9,823,720 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.4% of the company's stock are short sold.

Apartment Investment and Management Stock Performance

NYSE:AIV traded down $0.01 on Friday, hitting $4.21. The stock had a trading volume of 2,345,107 shares, compared to its average volume of 5,760,049. The business's 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $6.13. The stock has a market cap of $604.97 million, a price-to-earnings ratio of 1.08 and a beta of 1.35. Apartment Investment and Management has a 52-week low of $4.19 and a 52-week high of $8.89. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.87.

Apartment Investment and Management (NYSE:AIV - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $2.19. Apartment Investment and Management had a net margin of 316.79% and a return on equity of 9.05%. The firm had revenue of $34.64 million for the quarter, compared to analysts' expectations of $56.65 million. As a group, research analysts predict that Apartment Investment and Management will post -0.8 earnings per share for the current year.

Apartment Investment and Management Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $1.45 per share. The ex-dividend date was Friday, February 27th.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Apartment Investment and Management in a research note on Monday, December 29th. 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 presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Hedge Funds Weigh In On Apartment Investment and Management

A number of hedge funds have recently modified their holdings of AIV. Quadrant Capital Group LLC lifted its stake in shares of Apartment Investment and Management by 72.5% during the 4th 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 lifted its position in shares of Apartment Investment and Management by 2,561.7% in the fourth quarter. Parallel Advisors LLC now owns 4,658 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 4,483 shares in the last quarter. CWM LLC lifted its position in shares of Apartment Investment and Management by 163.7% in the fourth quarter. CWM LLC now owns 5,730 shares of the real estate investment trust's stock valued at $34,000 after acquiring 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 second quarter worth about $59,000. Finally, Federation des caisses Desjardins du Quebec boosted its stake in shares of Apartment Investment and Management by 25.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 10,418 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 2,137 shares during the period. 83.26% of the stock is currently owned by institutional investors.

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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