Apartment Income REIT Corp. (NYSE:AIRC) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC increased its position in shares of Apartment Income REIT Corp. (NYSE:AIRCFree Report) by 926.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,268 shares of the company’s stock after acquiring an additional 2,047 shares during the period. Denali Advisors LLC’s holdings in Apartment Income REIT were worth $79,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AIRC. Alliancebernstein L.P. lifted its stake in Apartment Income REIT by 1,327.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,969,503 shares of the company’s stock worth $143,259,000 after acquiring an additional 3,691,350 shares in the last quarter. Norges Bank purchased a new stake in Apartment Income REIT during the 4th quarter worth about $53,319,000. JPMorgan Chase & Co. increased its holdings in Apartment Income REIT by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock worth $416,681,000 after purchasing an additional 1,470,804 shares during the period. State Street Corp increased its holdings in Apartment Income REIT by 13.8% during the 1st quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after purchasing an additional 1,041,150 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its holdings in Apartment Income REIT by 195.6% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 1,555,044 shares of the company’s stock worth $47,740,000 after purchasing an additional 1,029,054 shares during the period. Institutional investors and hedge funds own 98.13% of the company’s stock.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian bought 889 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $31.50 per share, with a total value of $28,003.50. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $630,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Apartment Income REIT Trading Up 1.7 %

AIRC opened at $32.47 on Monday. The company has a market cap of $4.71 billion, a P/E ratio of 7.68 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. Apartment Income REIT Corp. has a one year low of $28.22 and a one year high of $37.36. The business’s 50-day simple moving average is $31.88 and its 200-day simple moving average is $31.91.

Apartment Income REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.54%. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Analyst Ratings Changes

Several brokerages have weighed in on AIRC. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. TheStreet upgraded Apartment Income REIT from a “d+” rating to a “c” rating in a report on Tuesday, December 12th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $34.00 price objective on shares of Apartment Income REIT in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Apartment Income REIT presently has an average rating of “Hold” and an average price target of $37.71.

Get Our Latest Stock Analysis on AIRC

Apartment Income REIT Company Profile

(Free Report)

Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 76 communities totaling 27,010 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management.

Featured Articles

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

Receive News & Ratings for Apartment Income REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Income REIT and related companies with MarketBeat.com's FREE daily email newsletter.