Short Interest in Apartment Investment and Management (NYSE:AIV) Drops By 7.8%

Apartment Investment and Management (NYSE:AIV) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 3,080,000 shares, a drop of 7.8% from the October 15th total of 3,340,000 shares. Based on an average daily trading volume, of 912,900 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.4% of the shares of the stock are short sold.

Apartment Investment and Management Price Performance

NYSE:AIV opened at $8.82 on Tuesday. Apartment Investment and Management has a 52-week low of $6.49 and a 52-week high of $9.48. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 4.28. The firm has a market cap of $1.25 billion, a P/E ratio of -5.10 and a beta of 1.39. The business’s 50-day moving average price is $8.80 and its 200 day moving average price is $8.60.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings data on Thursday, November 7th. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Apartment Investment and Management had a negative return on equity of 68.04% and a negative net margin of 119.76%. The business had revenue of $53.16 million during the quarter. As a group, sell-side analysts predict that Apartment Investment and Management will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apartment Investment and Management

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in Apartment Investment and Management by 9.9% during the 2nd quarter. Millennium Management LLC now owns 6,001,979 shares of the real estate investment trust’s stock worth $49,756,000 after buying an additional 538,330 shares during the period. DigitalBridge Group Inc. increased its position in shares of Apartment Investment and Management by 20.1% in the second quarter. DigitalBridge Group Inc. now owns 1,893,949 shares of the real estate investment trust’s stock worth $15,701,000 after acquiring an additional 316,790 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Apartment Investment and Management by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,878,033 shares of the real estate investment trust’s stock valued at $15,568,000 after acquiring an additional 9,646 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Apartment Investment and Management by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,842,853 shares of the real estate investment trust’s stock valued at $16,659,000 after acquiring an additional 44,668 shares in the last quarter. Finally, Rush Island Management LP acquired a new position in Apartment Investment and Management in the 3rd quarter worth approximately $15,999,000. Institutional investors and hedge funds own 83.26% of the company’s stock.

Apartment Investment and Management Company Profile

Aimco is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Aimco’s mission is to make real estate investments where outcomes are enhanced through our human capital so that substantial value is created for investors, teammates, and the communities in which we operate.