Apartment Income REIT Corp. to Issue Quarterly Dividend of $0.45 (NYSE:AIRC)

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) declared a quarterly dividend on Wednesday, April 27th, Zacks reports. Investors of record on Friday, May 20th will be given a dividend of 0.45 per share on Tuesday, May 31st. This represents a $1.80 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, May 19th.

Shares of Apartment Income REIT stock opened at $51.83 on Friday. The company has a market cap of $8.14 billion, a PE ratio of 18.06 and a beta of 1.04. Apartment Income REIT has a 52 week low of $42.96 and a 52 week high of $55.82. The business has a 50 day moving average price of $52.79 and a 200-day moving average price of $52.74. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.93.

Several analysts have recently commented on AIRC shares. Mizuho lowered their price objective on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, February 16th. Zacks Investment Research lowered Apartment Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Jefferies Financial Group raised Apartment Income REIT from a “hold” rating to a “buy” rating and upped their target price for the company from $52.00 to $63.00 in a report on Monday, January 10th. Finally, Truist Financial upped their target price on Apartment Income REIT from $56.00 to $59.00 in a report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.33.

In other news, CFO Paul Beldin sold 14,500 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $52.84, for a total value of $766,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Rayis purchased 500 shares of the business’s stock in a transaction dated Friday, February 18th. The stock was bought at an average cost of $51.44 per share, with a total value of $25,720.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,258 shares of company stock valued at $170,544 and have sold 41,500 shares valued at $2,184,830. 1.06% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of AIRC. Morgan Stanley raised its position in shares of Apartment Income REIT by 59.1% in the second quarter. Morgan Stanley now owns 563,816 shares of the company’s stock worth $26,742,000 after buying an additional 209,486 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Apartment Income REIT in the third quarter worth $551,000. Cubist Systematic Strategies LLC raised its position in shares of Apartment Income REIT by 313.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 50,920 shares of the company’s stock worth $2,784,000 after buying an additional 38,604 shares in the last quarter. Millennium Management LLC raised its position in shares of Apartment Income REIT by 126.1% in the fourth quarter. Millennium Management LLC now owns 305,652 shares of the company’s stock worth $16,710,000 after buying an additional 170,487 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Apartment Income REIT by 1.4% in the fourth quarter. Stifel Financial Corp now owns 32,630 shares of the company’s stock worth $1,784,000 after buying an additional 459 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Apartment Income REIT Company Profile (Get Rating)

AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country's largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.

See Also

Dividend History for Apartment Income REIT (NYSE:AIRC)

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