Arizona State Retirement System Cuts Stake in Apartment Income REIT Corp. (NYSE:AIRC)

Arizona State Retirement System reduced its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,715 shares of the company’s stock after selling 767 shares during the period. Arizona State Retirement System’s holdings in Apartment Income REIT were worth $1,449,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Treasurer of the State of North Carolina lifted its holdings in shares of Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after acquiring an additional 330 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Apartment Income REIT by 66.7% in the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after buying an additional 353 shares during the period. Franklin Resources Inc. raised its holdings in Apartment Income REIT by 5.2% in the second quarter. Franklin Resources Inc. now owns 7,288 shares of the company’s stock valued at $263,000 after buying an additional 357 shares during the period. Advisor Group Holdings Inc. raised its holdings in Apartment Income REIT by 4.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,837 shares of the company’s stock valued at $269,000 after buying an additional 363 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Apartment Income REIT by 4.8% in the third quarter. Lazard Asset Management LLC now owns 7,962 shares of the company’s stock valued at $244,000 after buying an additional 368 shares during the period. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

Apartment Income REIT Stock Performance

Apartment Income REIT stock opened at $38.36 on Friday. The company has a market cap of $5.56 billion, a PE ratio of 9.07 and a beta of 0.90. The company has a fifty day moving average price of $32.21 and a two-hundred day moving average price of $32.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.65. Apartment Income REIT Corp. has a 12 month low of $28.22 and a 12 month high of $38.68.

Apartment Income REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s payout ratio is 42.55%.

Analyst Ratings Changes

Several research analysts recently commented on AIRC shares. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price target for the company from $37.00 to $31.00 in a report on Wednesday, February 28th. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Apartment Income REIT has a consensus rating of “Hold” and a consensus target price of $36.59.

Insider Buying and Selling at Apartment Income REIT

In related news, Director Thomas N. Bohjalian bought 889 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Apartment Income REIT Company Profile

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.