Lecap Asset Management Ltd. Buys Shares of 21,987 Apartment Income REIT Corp. (NYSE:AIRC)

Lecap Asset Management Ltd. bought a new stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) during the 4th quarter, Holdings Channel.com reports. The fund bought 21,987 shares of the company’s stock, valued at approximately $764,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. boosted its position in Apartment Income REIT by 2.4% during the 3rd quarter. Invesco Ltd. now owns 975,323 shares of the company’s stock valued at $29,942,000 after acquiring an additional 22,830 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Apartment Income REIT by 353.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 55,317 shares of the company’s stock worth $1,698,000 after buying an additional 43,107 shares during the last quarter. Capital Square LLC increased its position in Apartment Income REIT by 6.9% during the 4th quarter. Capital Square LLC now owns 22,627 shares of the company’s stock valued at $786,000 after buying an additional 1,468 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock valued at $2,006,000 after buying an additional 330 shares in the last quarter. Finally, UBS Group AG increased its position in Apartment Income REIT by 2.2% during the 3rd quarter. UBS Group AG now owns 168,156 shares of the company’s stock valued at $5,162,000 after buying an additional 3,605 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Stock Performance

Shares of AIRC stock traded down $0.06 on Friday, hitting $38.36. The company had a trading volume of 8,558,948 shares, compared to its average volume of 3,713,627. The firm has a market cap of $5.56 billion, a P/E ratio of 9.07 and a beta of 0.90. The company has a 50-day moving average price of $32.21 and a 200-day moving average price of $32.13. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. Apartment Income REIT Corp. has a twelve month low of $28.22 and a twelve month high of $38.68.

Apartment Income REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were issued 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 (DPR) is presently 42.55%.

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $630,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Raymond James lowered Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Truist Financial reduced their target price on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $34.00 target price on shares of Apartment Income REIT in a research report on Thursday, February 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 price target (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.59.

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.