Keith M. Kimmel Sells 8,000 Shares of Apartment Income REIT Corp. (NYSE:AIRC) Stock

Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) insider Keith M. Kimmel sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $35.75, for a total value of $286,000.00. Following the sale, the insider now owns 34,345 shares of the company’s stock, valued at $1,227,833.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Apartment Income REIT Stock Performance

NYSE:AIRC opened at $34.08 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50-day moving average of $37.50 and a two-hundred day moving average of $37.52. The stock has a market cap of $5.08 billion, a P/E ratio of 5.85 and a beta of 0.93. Apartment Income REIT Corp. has a 1-year low of $33.57 and a 1-year high of $55.82.

Apartment Income REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 17th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 16th. This represents a $1.80 annualized dividend and a dividend yield of 5.28%. Apartment Income REIT’s payout ratio is 30.87%.

Hedge Funds Weigh In On Apartment Income REIT

Several large investors have recently modified their holdings of AIRC. Lazard Asset Management LLC bought a new position in shares of Apartment Income REIT during the second quarter worth about $32,000. Private Trust Co. NA bought a new position in shares of Apartment Income REIT during the fourth quarter worth about $35,000. Ellevest Inc. lifted its position in shares of Apartment Income REIT by 275.0% during the third quarter. Ellevest Inc. now owns 975 shares of the company’s stock worth $38,000 after purchasing an additional 715 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Apartment Income REIT by 42.9% during the third quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock worth $47,000 after purchasing an additional 366 shares during the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Apartment Income REIT during the third quarter worth about $48,000. Institutional investors own 99.35% of the company’s stock.

Analysts Set New Price Targets

AIRC has been the subject of several recent research reports. BMO Capital Markets upgraded Apartment Income REIT from an “underperform” rating to a “market perform” rating and set a $39.00 price target for the company in a report on Wednesday. Mizuho increased their price target on Apartment Income REIT from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Wolfe Research initiated coverage on Apartment Income REIT in a report on Monday, January 23rd. They issued an “outperform” rating and a $39.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Apartment Income REIT to $42.00 in a report on Thursday, December 1st. Finally, The Goldman Sachs Group upgraded Apartment Income REIT from a “sell” rating to a “buy” rating and increased their price target for the company from $39.00 to $43.00 in a report on Thursday, December 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

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.