Dallas, Texas 11/06/2013 (Financialstrend) – In Tuesday’s trading, Apartment Investment and Management Co. (NYSE:AIV) dropped by 1.08%. The opening price of the shares was $27.70, which climbed to an intraday high of $27.77 and dipped to a close of $27.54. Approximately 1.25 million shares were traded on Tuesday while an average volume of 0.946 million shares were traded over a 30 day period. The 52-week low of Apartment Investment and Management Co. (NYSE:AIV) shares is $24.05 and its 52-week high is $33.44. The company has a market capitalization of $4.02 billion.
About the company
Apartment Investment and Management Co. (NYSE:AIV) was incorporated on 10 January 1994. It is a self-administered & self-managed REIT, AIMCO Properties, L.P. is the company’s partnership that has been formed to conduct Apartment Investment and Management Co. (NYSE:AIV)’s business. The company’s business is focused on owning, management & redevelopment of various apartment communities that are situated across the United States. Via its 100%-owned subsidiaries, AIMCO-GP, Inc. & AIMCO-LP Trust, the company owns ownership interests in its Aimco Operating Partnership.
Aimco conducts its businesses & owns all assets via the Aimco Operating Partnership. Interest in Aimco Operating Partnership are held by its limited partners apart from Aimco and are known as its OP Units. The OP Units include common-partnership units, high-performance partnership units & partnership preferred unit. Apartment Investment and Management Co. (NYSE:AIV) refers to these as its common OP Units, HPUs & preferred OP-Units, respectively. As of 31 December 2012 , Apartment Investment and Management Co. (NYSE:AIV)’s portfolio of its owned properties were made up of 265 properties that had 67,977 apartment units.
Its business is organized around 2 different activities: 1- Property Operations and 2- Portfolio Management. In the year that ended 31 December 2012, Apartment Investment and Management Co. (NYSE:AIV) acquired 84 properties located in San Diego, 42 that were in Manhattan and 488 were in Phoenix.
