DekaBank Deutsche Girozentrale Decreases Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

DekaBank Deutsche Girozentrale reduced its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,854 shares of the company’s stock after selling 2,575 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Apartment Income REIT were worth $2,302,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AIRC. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Apartment Income REIT by 7.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,859 shares of the company’s stock worth $581,000 after purchasing an additional 784 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Apartment Income REIT by 39.1% in the first quarter. Natixis Advisors L.P. now owns 15,307 shares of the company’s stock valued at $818,000 after purchasing an additional 4,306 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Apartment Income REIT by 11.2% in the first quarter. Allianz Asset Management GmbH now owns 329,852 shares of the company’s stock valued at $17,634,000 after purchasing an additional 33,198 shares during the period. Vanguard Group Inc. increased its holdings in shares of Apartment Income REIT by 0.5% in the first quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock valued at $1,224,933,000 after purchasing an additional 119,016 shares during the period. Finally, Cibc World Markets Corp increased its holdings in shares of Apartment Income REIT by 0.7% in the first quarter. Cibc World Markets Corp now owns 79,022 shares of the company’s stock valued at $4,225,000 after purchasing an additional 543 shares during the period. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

Apartment Income REIT Stock Down 0.2 %

Shares of AIRC stock opened at $38.36 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. Apartment Income REIT Corp. has a twelve month low of $28.22 and a twelve month high of $38.68. The stock has a 50 day moving average of $32.21 and a 200 day moving average of $32.13. The stock has a market cap of $5.56 billion, a P/E ratio of 9.07 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James lowered Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Wedbush reissued a “neutral” rating and issued a $39.00 price objective (up from $35.00) on shares of Apartment Income REIT in a report on Thursday. Mizuho lowered Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $31.00 in a report on Wednesday, February 28th. Truist Financial dropped their target price on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.59.

Insider Buying and Selling at Apartment Income REIT

In other Apartment Income REIT news, Director Thomas N. Bohjalian acquired 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $31.50 per share, with a total value of $28,003.50. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $630,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate 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.