Shell Asset Management Co. Has $491,000 Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Shell Asset Management Co. lessened its holdings in Apartment Income REIT Corp. (NYSE:AIRCGet Rating) by 12.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,190 shares of the company’s stock after selling 1,360 shares during the quarter. Shell Asset Management Co.’s holdings in Apartment Income REIT were worth $491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Apartment Income REIT by 99.9% in the fourth quarter. First Trust Advisors LP now owns 58,252 shares of the company’s stock worth $3,185,000 after buying an additional 29,114 shares during the period. Strs Ohio raised its holdings in shares of Apartment Income REIT by 22.5% during the first quarter. Strs Ohio now owns 211,995 shares of the company’s stock worth $11,333,000 after acquiring an additional 38,992 shares in the last quarter. State Street Corp raised its holdings in shares of Apartment Income REIT by 7.2% during the fourth quarter. State Street Corp now owns 7,522,299 shares of the company’s stock worth $411,244,000 after acquiring an additional 507,999 shares in the last quarter. Aurora Investment Managers LLC. raised its holdings in shares of Apartment Income REIT by 2.0% during the first quarter. Aurora Investment Managers LLC. now owns 50,639 shares of the company’s stock worth $2,707,000 after acquiring an additional 991 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its holdings in shares of Apartment Income REIT by 44.3% during the first quarter. Virginia Retirement Systems ET AL now owns 284,793 shares of the company’s stock worth $15,225,000 after acquiring an additional 87,400 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Analyst Ratings Changes

AIRC has been the subject of several recent research reports. Mizuho cut their price objective on Apartment Income REIT from $59.00 to $45.00 and set a “buy” rating for the company in a report on Monday, June 27th. Scotiabank cut their target price on Apartment Income REIT from $56.00 to $53.00 in a report on Thursday, May 19th. Jefferies Financial Group lowered Apartment Income REIT from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a report on Friday, July 22nd. Truist Financial cut their target price on Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, June 24th. Finally, BTIG Research initiated coverage on Apartment Income REIT in a report on Monday, May 9th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Apartment Income REIT has a consensus rating of “Hold” and an average target price of $49.50.

Apartment Income REIT Trading Down 0.2 %

Apartment Income REIT stock opened at $43.59 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 0.23. The business’s 50-day simple moving average is $42.40 and its 200-day simple moving average is $48.10. The firm has a market capitalization of $6.85 billion, a PE ratio of 7.17 and a beta of 1.02. Apartment Income REIT Corp. has a 52 week low of $39.06 and a 52 week high of $55.82.

Apartment Income REIT (NYSE:AIRCGet Rating) last released its earnings results on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $1.04. Apartment Income REIT had a return on equity of 47.81% and a net margin of 127.20%. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts forecast that Apartment Income REIT Corp. will post 2.4 earnings per share for the current year.

Apartment Income REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, August 18th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 29.61%.

Apartment Income REIT Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

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