AIV - Apartment Investment & Management Co. gains on report of investor sale push

• Apartment Investment & Management Co. ( NYSE: AIV ) rose 2.5% in premarket trading on report that activist investor Jonathan Litt is pushing for the company to explore a sale.
• Litt's Land & Building Investment Management has a built a stake of under 5% in Aimco ( AIV ) and believes that there are a large number of potential buyers who may be interested, according to traders, who cited a Bloomberg report. Land & Buildings believes that the assets are worth at least $12/share, a 30% premium from Thursday's close.
• Litt has been in talks with Aimco ( AIV ) management about measures to narrow the valuation gap and the company is considering all options, according to Bloomberg.
• Aimco ( AIV ) is not new to Litt. In 2020 he opposed Aimco's plan to split into two public traded companies, which it ended up going ahead with after all.

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