Allspring Global Investments Holdings LLC Reduces Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Allspring Global Investments Holdings LLC decreased its stake in Apartment Income REIT Corp. (NYSE:AIRC) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 548,407 shares of the company’s stock after selling 108,899 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apartment Income REIT were worth $19,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Apartment Income REIT by 356.7% in the 1st quarter. Belpointe Asset Management LLC now owns 813 shares of the company’s stock worth $29,000 after purchasing an additional 635 shares during the period. Quent Capital LLC boosted its holdings in shares of Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after purchasing an additional 700 shares during the period. Denali Advisors LLC boosted its holdings in Apartment Income REIT by 926.2% during the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock valued at $79,000 after acquiring an additional 2,047 shares during the period. Finally, First Manhattan Co. purchased a new position in Apartment Income REIT during the 1st quarter valued at $121,000. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Wall Street Analyst Weigh In

AIRC has been the subject of a number of recent analyst reports. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Mizuho lowered Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. BMO Capital Markets reissued a “market perform” rating and issued a $39.12 price target (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday. Finally, 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 research note on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.59.

Insider Transactions at Apartment Income REIT

In related news, Director Thomas N. Bohjalian bought 889 shares of the stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $630,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Apartment Income REIT Stock Down 0.2 %

Shares of AIRC opened at $38.36 on Monday. Apartment Income REIT Corp. has a 52 week low of $28.22 and a 52 week high of $38.68. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 9.07 and a beta of 0.90. The stock’s 50-day moving average price is $32.21 and its 200-day moving average price is $32.14.

Apartment Income REIT Dividend Announcement

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

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.