John D. Rayis Buys 1,000 Shares of Apartment Income REIT Corp. (NYSE:AIRC) Stock

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) Director John D. Rayis purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was bought at an average cost of $46.80 per share, for a total transaction of $46,800.00. Following the purchase, the director now owns 8,412 shares in the company, valued at $393,681.60. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

AIRC opened at $43.11 on Tuesday. The business’s 50-day moving average price is $52.14 and its two-hundred day moving average price is $52.56. Apartment Income REIT Corp. has a 1 year low of $42.96 and a 1 year high of $55.82. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 9.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06.

Apartment Income REIT (NYSE:AIRCGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the company posted $0.50 earnings per share. Sell-side analysts anticipate that Apartment Income REIT Corp. will post 2.41 earnings per share for the current fiscal year.

The company also recently declared 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 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, May 19th. Apartment Income REIT’s dividend payout ratio is 38.30%.

Several analysts recently commented on the company. Truist Financial raised their price objective on Apartment Income REIT from $56.00 to $59.00 in a research note on Tuesday, January 18th. BTIG Research assumed coverage on Apartment Income REIT in a research note on Monday. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Apartment Income REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, March 23rd. Mizuho dropped their price objective on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, February 16th. Finally, Jefferies Financial Group raised Apartment Income REIT from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $63.00 in a research note on Monday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of Apartment Income REIT by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,585,979 shares of the company’s stock valued at $459,006,000 after purchasing an additional 273,099 shares during the period. Swiss National Bank grew its holdings in shares of Apartment Income REIT by 7.5% in the 1st quarter. Swiss National Bank now owns 371,184 shares of the company’s stock valued at $19,843,000 after acquiring an additional 25,900 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Apartment Income REIT by 6.1% in the 1st quarter. Teacher Retirement System of Texas now owns 32,471 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,873 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Apartment Income REIT by 5.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 68,049 shares of the company’s stock valued at $3,638,000 after acquiring an additional 3,285 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Apartment Income REIT by 9.6% in the 1st quarter. M&T Bank Corp now owns 15,709 shares of the company’s stock valued at $839,000 after acquiring an additional 1,378 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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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