11 Best REIT Stocks To Buy Under $10

4. Apartment Investment and Management Company (NYSE:AIV)

Share Price as of October 26: $8.70

Number of Hedge Fund Holders: 23

Apartment Investment and Management Company (NYSE:AIV) is a diversified real estate company that primarily focuses on value add and opportunistic investments, targeting the multifamily sector in the United States.

The REIT has a stabilized portfolio that includes 21 stabilized apartment communities with 5,600 apartment homes which are diversified by price point and geography. The firm’s stabilized NOI is supported by apartment communities positioned in markets with forecast compounded annual revenue growth of +2.9% over the next 5 years. The development activity remains robust as well with $1.1 billion of development projects constructed or stabilized on plan since 2020. Furthermore, AIV’s balance sheet is strong with ample liquidity and interest rate protection.

Apartment Investment and Management Company’s (NYSE:AIV) diversified portfolio of apartment communities continued to perform well in the second quarter with NOI up 4.1% year-over-year. Revenue in the quarter was up 4.6% year-over-year due to average monthly revenue per apartment home growing by 4.4% to $2,392 and a 10-basis point increase in Average Daily Occupancy to 96.3%.

Apartment Investment and Management Company (NYSE:AIV) has demonstrated a 30-year history of growth and innovation in the multifamily sector. With a diversified and well-performing portfolio, progressing active development projects, and a strong history in the multifamily sector, AIV is an attractive REIT stock to buy under $10. As of Q2, the stock is held by 23 hedge funds.