Apartment Income REIT Corp. (NYSE:AIRC) SVP Matthew O’grady Acquires 543 Shares

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) SVP Matthew O’grady bought 543 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were acquired at an average cost of $46.04 per share, with a total value of $24,999.72. Following the completion of the transaction, the senior vice president now owns 19,540 shares of the company’s stock, valued at $899,621.60. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

AIRC opened at $44.95 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 9.56 and a beta of 1.05. Apartment Income REIT Corp. has a twelve month low of $42.96 and a twelve month high of $55.82. The company’s 50-day moving average price is $52.30 and its two-hundred day moving average price is $52.59.

Apartment Income REIT (NYSE:AIRCGet Rating) last released its earnings results on Monday, May 2nd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.79). Apartment Income REIT had a net margin of 99.27% and a return on equity of 40.71%. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Apartment Income REIT Corp. will post 2.41 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, May 19th. Apartment Income REIT’s payout ratio is 38.30%.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIRC. Exchange Traded Concepts LLC lifted its stake in shares of Apartment Income REIT by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,272 shares of the company’s stock valued at $616,000 after buying an additional 204 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Apartment Income REIT by 0.8% during the 4th quarter. First Republic Investment Management Inc. now owns 32,921 shares of the company’s stock valued at $1,800,000 after buying an additional 254 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Apartment Income REIT by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 40,400 shares of the company’s stock valued at $2,209,000 after buying an additional 400 shares in the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Apartment Income REIT by 1.9% during the 4th quarter. Vident Investment Advisory LLC now owns 21,845 shares of the company’s stock valued at $1,195,000 after buying an additional 403 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in shares of Apartment Income REIT by 2.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,747 shares of the company’s stock valued at $861,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 99.21% 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.

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