Apartment Income REIT Corp. (NYSE:AIRC) Receives Average Recommendation of “Hold” from Analysts

Shares of Apartment Income REIT Corp. (NYSE:AIRC) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $36.59.

AIRC has been the topic of a number of analyst reports. 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 note on Tuesday, April 9th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 price target on shares of Apartment Income REIT in a report on Thursday, February 22nd. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th.

Apartment Income REIT Price Performance

AIRC stock opened at $38.42 on Friday. The stock has a market cap of $5.57 billion, a PE ratio of 9.08 and a beta of 0.90. Apartment Income REIT has a 12 month low of $28.22 and a 12 month high of $38.68. The company has a 50-day moving average price of $33.51 and a 200 day moving average price of $32.67. 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 Dividend Announcement

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

Insider Transactions at Apartment Income REIT

In other news, Director Thomas N. Bohjalian purchased 889 shares of the stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $630,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Apartment Income REIT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC boosted its holdings in Apartment Income REIT by 437.5% in the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after acquiring an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Apartment Income REIT by 66.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Apartment Income REIT in the fourth quarter worth $37,000. CWM LLC grew its holdings in shares of Apartment Income REIT by 64.2% during the fourth quarter. CWM LLC now owns 1,281 shares of the company’s stock valued at $44,000 after buying an additional 501 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Apartment Income REIT in the 4th quarter valued at $48,000. Hedge funds and other institutional investors 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.