Irenic Capital Management LP Sells 3,631,061 Shares of Apartment Investment and Management Company $AIV

Irenic Capital Management LP lessened its holdings in Apartment Investment and Management Company (NYSE:AIV) by 72.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,398,460 shares of the real estate investment trust’s stock after selling 3,631,061 shares during the quarter. Irenic Capital Management LP’s holdings in Apartment Investment and Management were worth $4,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AIV. Quadrant Capital Group LLC lifted its holdings in shares of Apartment Investment and Management by 72.5% during the fourth quarter. Quadrant Capital Group LLC now owns 4,641 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,951 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Apartment Investment and Management by 2,561.7% in the 4th quarter. Parallel Advisors LLC now owns 4,658 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 4,483 shares during the last quarter. Bessemer Group Inc. increased its position in Apartment Investment and Management by 47,612.5% during the 1st quarter. Bessemer Group Inc. now owns 7,634 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 7,618 shares in the last quarter. CWM LLC increased its position in Apartment Investment and Management by 163.7% during the 4th quarter. CWM LLC now owns 5,730 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 3,557 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Apartment Investment and Management by 315.0% during the second quarter. FNY Investment Advisers LLC now owns 16,600 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 12,600 shares during the last quarter. Institutional investors own 83.26% of the company’s stock.

Apartment Investment and Management Stock Performance

Shares of AIV stock opened at $2.57 on Friday. The company has a market capitalization of $373.26 million, a price-to-earnings ratio of 0.66 and a beta of 1.17. 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 Company has a one year low of $2.49 and a one year high of $8.03. The company’s 50-day moving average is $2.69 and its 200 day moving average is $3.62.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Apartment Investment and Management from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.