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Shareholders Vote Activist Litt’s Land & Buildings an Apartment Investment (AIV) Board Seat

Fintel reports that Land & Buildings Investment Management, LLC has filed a 13D/A form with the SEC disclosing ownership of 8,798,969 shares of Apartment Investment and Management Co (AIV). This represents 5.8% of the company.

“Based on the preliminary vote report provided by the AIV’s proxy solicitor, shareholders elected the Reporting Persons director nominee, James P. Sullivan, to the Board of Directors of the Issuer at the Annual Meeting held on December 16, 2022,” Land & Buildings’ filing said.

In their previous filing dated October 28, 2022 they reported 8,806,573 shares and 5.80% of the company, a decrease in shares of 0.09% and a decrease in total ownership of 0.00% (calculated as current – previous percent ownership).

Aimco is a Real Estate Investment Trust focused on property development, redevelopment and various other value-creating investment strategies, targeting the U.S multifamily market. Aimco is traded on the New York Stock Exchange as AIV.

What are other large shareholders doing?

Price T Rowe Associates Inc /md/ holds 17,408,514 shares representing 11.45% ownership of the company. In it’s prior filing, the firm reported owning 19,420,797 shares, representing a decrease of 11.56%. The firm decreased its portfolio allocation in AIV by 40.91% over the last quarter.

Long Pond Capital, LP holds 10,759,559 shares representing 7.08% ownership of the company. No change in the last quarter.

Sessa Capital IM, L.P. holds 9,932,043 shares representing 6.53% ownership of the company. No change in the last quarter.

Goldman Sachs Group Inc holds 4,851,995 shares representing 3.19% ownership of the company. In it’s prior filing, the firm reported owning 11,540,204 shares, representing a decrease of 137.84%. The firm decreased its portfolio allocation in AIV by 85.27% over the last quarter.

What is the overall Fund Sentiment?

There are 374 funds or institutions reporting positions in Apartment Investment and Management Co. This is an increase of 16 owner(s) or 4.47%.

Average portfolio weight of all funds dedicated to Apartment Investment and Management Co is 0.1306%, a decrease of 12.0330%. Total shares owned by institutions decreased in the last three months by 1.61% to 143,917,320 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for AIV / Apartment Investment and Management Co.

This article originally appeared on Fintel

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