Apartment Investment and Management (NYSE: AIV) saw a sharp decline in short interest in November. As of November 15, there were 8,390,000 shares of total short interest, a 15.6% decrease from 9,940,000 on October 31. Currently, 6.0% of the stock is being sold short. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is 5.4 days.
The company’s ownership by hedge funds has changed recently. For roughly $2,500, Lazard Asset Management LLC acquired Apartment Investment and Management shares in the third quarter. Ensign Peak Advisors Inc. added to its third-quarter stock purchase of Apartment Investment and Management by spending close to $30,000. Captrust Financial Advisors increased their stake in Apartment Investment and Management in the second quarter by purchasing a new investment for around $30,000. Advisor Group Holdings Inc. boosted its Apartment Investment and Management ownership by 25.7% during the first quarter. Advisor Group Holdings Inc. now owns 9,826 real estate investment trust shares, valued at $147,000, after acquiring an additional 2,009 shares during the last quarter. Last but not least, by adding Apartment Investment and Management shares to its portfolio in the second quarter, Lee Financial Co. raised the value of its holdings by approximately $64,000. Hedge funds and institutional investors hold 97.41% of the company’s shares.
At noon on Friday, AIV’s stock lost $0.06 in value, reaching $8.25. The company’s stock had a trading volume of 485,824 shares as opposed to its typical volume of 860,921. The company’s current quick, current, and debt-to-equity ratios are 1, 10, 1, 80, and 1, 80, respectively. The company’s simple moving averages for the past 50 and 200 days are $7.58 and $7.56, respectively. The company has a market capitalization of $1.25 billion, a P/E ratio of 4.58, a beta of 1.12, and a value of $1.25 billion. Over the previous year, apartment management and investment costs have ranged between $5.22 and $9.79.
Several analysts have commented on the AIV share price. On Thursday, August 11, TheStreet raised Apartment Investment and Management’s rating from “d-” to “c-.” StockNews.com started monitoring apartment management and investment on Wednesday, October 12. They gave the company a “hold” rating.
The U.S. multifamily market, as well as real estate development, redevelopment, and many other value-creating investment methods, are the main areas of concentration for the real estate investment trust Aimco. Aimco looks to invest in real estate projects where human capital may lead to better results and create more value for our supporters, workers, and the communities where we operate.