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

Apartment Investment and Management (NYSE:AIV) saw a large 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 volume of 912,900 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in shares of Apartment Investment and Management in the 1st quarter valued at approximately $38,000. Quarry LP acquired a new stake in Apartment Investment and Management in the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Apartment Investment and Management in the 2nd quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. grew its position in Apartment Investment and Management by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,059 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,305 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Apartment Investment and Management during the second quarter worth $104,000. Institutional investors and hedge funds own 83.26% of the company’s stock.

Apartment Investment and Management Stock Performance

AIV opened at $8.83 on Wednesday. The stock’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $8.60. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 4.28. The stock has a market cap of $1.25 billion, a PE ratio of -5.10 and a beta of 1.39. Apartment Investment and Management has a 1 year low of $6.49 and a 1 year high of $9.48.

Apartment Investment and Management (NYSE:AIV) last announced its quarterly earnings results 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). The business had revenue of $53.16 million during the quarter. Apartment Investment and Management had a negative net margin of 119.76% and a negative return on equity of 68.04%. Sell-side analysts forecast that Apartment Investment and Management will post -0.8 EPS for the current year.

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.