Apartment Income REIT (NYSE:AIRC) Given New $46.00 Price Target at Mizuho

Apartment Income REIT (NYSE:AIRCGet Rating) had its price objective increased by Mizuho from $45.00 to $46.00 in a research report sent to investors on Monday, The Fly reports. Mizuho currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on AIRC. Jefferies Financial Group downgraded shares of Apartment Income REIT from a buy rating to a hold rating and set a $44.00 price target for the company. in a research note on Friday, July 22nd. Truist Financial reduced their price objective on shares of Apartment Income REIT from $49.00 to $45.00 and set a hold rating for the company in a report on Friday, June 24th. Finally, BMO Capital Markets cut shares of Apartment Income REIT from a market perform rating to an underperform rating and set a $43.00 price objective for the company. in a report on Friday, August 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $48.71.

Apartment Income REIT Trading Down 1.0 %

AIRC opened at $40.78 on Monday. Apartment Income REIT has a 1-year low of $39.06 and a 1-year high of $55.82. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.30. The company has a market cap of $6.29 billion, a P/E ratio of 6.71 and a beta of 1.07. The company has a fifty day moving average price of $43.05 and a two-hundred day moving average price of $45.88.

Apartment Income REIT (NYSE:AIRCGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $1.04. Apartment Income REIT had a net margin of 127.20% and a return on equity of 47.81%. During the same period in the prior year, the company earned $0.52 earnings per share. Analysts predict that Apartment Income REIT will post 2.4 EPS for the current fiscal year.

Apartment Income REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Friday, August 19th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.41%. The ex-dividend date was Thursday, August 18th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 29.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd purchased a new position in Apartment Income REIT during the fourth quarter worth about $26,000. Lazard Asset Management LLC bought a new stake in Apartment Income REIT in the second quarter worth about $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Apartment Income REIT in the first quarter worth about $37,000. Private Trust Co. NA bought a new stake in Apartment Income REIT in the second quarter worth about $42,000. Finally, Meeder Asset Management Inc. bought a new stake in Apartment Income REIT in the first quarter worth about $59,000. 99.08% 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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