Joseph Beard’s Westdale Real Estate Raises Apartment Investment & Management Stake

Fintel reports that Beard Joseph G has filed a 13D/A form with the SEC disclosing ownership of 7,857,295 shares of Apartment Investment and Management Co (AIV). This represents 5.18% of the company.

In their previous filing dated August 10, 2022, they reported 7,732,295 shares and 5.08% of the company, an increase in shares of 1.62% and an increase in total ownership of 0.10% (calculated as current – previous percent ownership).

Beard co-founded Westdale Real Estate Investment and Management, based in Dallas.

Westdale and its 1,000 employees operate from five regional offices located in Houston, Austin, San Antonio, Atlanta and Charlotte and the company controls a more than $6 billion capital base.

Beard reiterated his earlier 13D filings for the company, saying he intends” to continue to evaluate the company’s business, prospects and financial condition, and other further developments. As a part of such evaluation, one or more of the Reporting Persons may participate in meetings or discussions with AIV’s management, other shareholders and other persons.”

Aimco is a Real Estate Investment Trust focused on property development, redevelopment, and other value-creating investment strategies, targeting the US 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. In its 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. No change in the last quarter.

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

Land & Buildings Investment Management, LLC holds 7,341,214 shares representing 4.83% ownership. In its prior filing, the firm reported owning 7,062,276 shares, representing an increase of 3.80%. The firm increased its portfolio allocation in AIV by 14.24% over the last quarter.

Goldman Sachs Group Inc holds 4,851,995 shares representing 3.19% ownership. In its 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 20 owner(s) or 5.65%.

Average portfolio weight of all funds dedicated to Apartment Investment and Management Co is 0.1303%, a decrease of 14.6495%. Total shares owned by institutions increased in the last three months by 2.85% to 144,302,742 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 – particularly, how the company ranks compared to other companies in the investing universe.

This article originally appeared on Fintel

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