Apartment Income REIT (NYSE:AIRC) PT Lowered to $37.00

Apartment Income REIT (NYSE:AIRC) had its price target trimmed by Truist Financial from $40.00 to $37.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on AIRC. Mizuho lowered Apartment Income REIT from a buy rating to a neutral rating and cut their price target for the company from $37.00 to $31.00 in a report on Wednesday, February 28th. TheStreet upgraded Apartment Income REIT from a d+ rating to a c rating in a research note on Tuesday, December 12th. Raymond James downgraded Apartment Income REIT from an outperform rating to a market perform rating in a research report on Monday, March 18th. BMO Capital Markets reiterated a market perform rating and issued a $39.12 price objective (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday. Finally, Janney Montgomery Scott restated a neutral rating on shares of Apartment Income REIT in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $36.59.

Apartment Income REIT Trading Down 0.2 %

AIRC opened at $38.36 on Tuesday. The stock has a market capitalization of $5.56 billion, a P/E ratio of 9.07 and a beta of 0.90. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. Apartment Income REIT has a 12 month low of $28.22 and a 12 month high of $38.68. The firm’s fifty day simple moving average is $32.21 and its 200 day simple moving average is $32.12.

Apartment Income REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were paid a $0.45 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. Apartment Income REIT’s dividend payout ratio is presently 42.55%.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian purchased 889 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was purchased at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $630,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apartment Income REIT

A number of institutional investors have recently bought and sold shares of AIRC. Raymond James Financial Services Advisors Inc. lifted its position in shares of Apartment Income REIT by 7.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,859 shares of the company’s stock valued at $581,000 after buying an additional 784 shares during the last quarter. Natixis Advisors L.P. raised its stake in Apartment Income REIT by 39.1% in the 1st quarter. Natixis Advisors L.P. now owns 15,307 shares of the company’s stock valued at $818,000 after acquiring an additional 4,306 shares during the period. Allianz Asset Management GmbH lifted its holdings in Apartment Income REIT by 11.2% during the 1st quarter. Allianz Asset Management GmbH now owns 329,852 shares of the company’s stock valued at $17,634,000 after purchasing an additional 33,198 shares during the last quarter. Vanguard Group Inc. boosted its position in Apartment Income REIT by 0.5% during the first quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock worth $1,224,933,000 after purchasing an additional 119,016 shares during the period. Finally, Cibc World Markets Corp increased its holdings in shares of Apartment Income REIT by 0.7% in the first quarter. Cibc World Markets Corp now owns 79,022 shares of the company’s stock valued at $4,225,000 after purchasing an additional 543 shares during the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

About Apartment Income REIT

Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 76 communities totaling 27,010 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management.