OVERSEA CHINESE BANKING Corp Ltd Lowers Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 116,881 shares of the company’s stock after selling 6,576 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Apartment Income REIT were worth $4,059,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Apartment Income REIT by 0.5% in the 1st 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Apartment Income REIT by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock worth $416,681,000 after purchasing an additional 1,470,804 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Apartment Income REIT by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 9,131,443 shares of the company’s stock worth $280,334,000 after purchasing an additional 213,160 shares in the last quarter. State Street Corp raised its holdings in shares of Apartment Income REIT by 13.8% during the 1st quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after acquiring an additional 1,041,150 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Apartment Income REIT by 7.7% during the 3rd quarter. FMR LLC now owns 5,758,309 shares of the company’s stock worth $176,780,000 after acquiring an additional 411,299 shares in the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

Apartment Income REIT Trading Down 0.1 %

Apartment Income REIT stock traded down $0.02 during mid-day trading on Friday, hitting $38.38. The company’s stock had a trading volume of 4,653,974 shares, compared to its average volume of 4,809,716. The company has a 50 day moving average of $32.83 and a 200-day moving average of $32.41. The stock has a market cap of $5.56 billion, a PE ratio of 9.07 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. Apartment Income REIT Corp. has a one year low of $28.22 and a one year high of $38.68.

Apartment Income REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

AIRC has been the topic of several recent research reports. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their target price for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. Finally, Truist Financial cut 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. Eight 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.59.

Insider Buying and Selling

In related news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

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.