Short Interest in Apartment Income REIT Corp. (NYSE:AIRC) Expands By 54.5%

Apartment Income REIT Corp. (NYSE:AIRC) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,770,000 shares, a growth of 54.5% from the March 31st total of 2,440,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average daily volume of 2,530,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

AIRC has been the subject of a number of research reports. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Mizuho downgraded shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Wedbush restated a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $34.00 target price on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.59.

Apartment Income REIT Price Performance

AIRC stock traded down $0.02 during trading on Monday, hitting $38.39. 3,530,493 shares of the stock traded hands, compared to its average volume of 2,329,817. Apartment Income REIT has a one year low of $28.22 and a one year high of $38.68. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. The company has a 50 day simple moving average of $33.51 and a 200 day simple moving average of $32.69. 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 disclosed 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 was Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. Apartment Income REIT’s dividend payout ratio (DPR) is 42.55%.

Insider Buying and Selling at Apartment Income REIT

In other news, Director Thomas N. Bohjalian purchased 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought 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 owns 20,000 shares of the company’s stock, valued at $630,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apartment Income REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in Apartment Income REIT by 66.7% in the third 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. Quent Capital LLC raised its stake in Apartment Income REIT by 437.5% in the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after purchasing an additional 700 shares in the last quarter. Signaturefd LLC acquired a new position in Apartment Income REIT in the fourth quarter valued at about $37,000. CWM LLC raised its stake in Apartment Income REIT by 64.2% during the fourth quarter. CWM LLC now owns 1,281 shares of the company’s stock worth $44,000 after acquiring an additional 501 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Apartment Income REIT during the fourth quarter worth about $48,000. 98.13% of the stock is owned by institutional investors.

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.