Vanguard Group Inc. Lowers Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Vanguard Group Inc. lowered its holdings in Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,701,941 shares of the company’s stock after selling 177,749 shares during the period. Vanguard Group Inc. owned 15.14% of Apartment Income REIT worth $876,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in Apartment Income REIT during the second quarter valued at about $32,000. Ellevest Inc. grew its position in Apartment Income REIT by 275.0% during the third quarter. Ellevest Inc. now owns 975 shares of the company’s stock valued at $38,000 after acquiring an additional 715 shares during the period. Private Trust Co. NA purchased a new stake in Apartment Income REIT during the second quarter valued at about $42,000. Bessemer Group Inc. grew its position in Apartment Income REIT by 42.9% during the third quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock valued at $47,000 after acquiring an additional 366 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in Apartment Income REIT during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 99.35% of the company’s stock.

Apartment Income REIT Trading Up 1.5 %

NYSE:AIRC opened at $35.44 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.33 and a current ratio of 0.33. Apartment Income REIT Corp. has a one year low of $33.57 and a one year high of $55.82. The business’s 50-day simple moving average is $37.42 and its 200 day simple moving average is $37.64. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 6.08 and a beta of 0.93.

Apartment Income REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 17th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Thursday, February 16th. Apartment Income REIT’s dividend payout ratio (DPR) is 30.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup lowered their price target on Apartment Income REIT from $47.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, November 29th. JPMorgan Chase & Co. decreased their target price on Apartment Income REIT to $42.00 in a research report on Thursday, December 1st. Wolfe Research assumed coverage on Apartment Income REIT in a research report on Monday, January 23rd. They issued an “outperform” rating and a $39.00 target price for the company. Truist Financial decreased their target price on Apartment Income REIT from $48.00 to $39.00 and set a “hold” rating for the company in a research report on Tuesday, November 29th. Finally, Mizuho upped their target price on Apartment Income REIT from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.78.

About Apartment Income REIT

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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.