Mutual of America Capital Management LLC Lowers Position in Apartment Income REIT Corp. (NYSE:AIRC)

Mutual of America Capital Management LLC trimmed its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 156,296 shares of the company’s stock after selling 2,251 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Apartment Income REIT were worth $5,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC grew its position 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 buying an additional 635 shares during the last quarter. Quent Capital LLC grew its position 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 buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 buying an additional 353 shares during the last quarter. Denali Advisors LLC grew its position in shares of Apartment Income REIT by 926.2% in the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock worth $79,000 after buying an additional 2,047 shares during the last quarter. Finally, First Manhattan Co. bought a new stake in shares of Apartment Income REIT in the 1st quarter worth approximately $121,000. 98.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Apartment Income REIT Trading Down 0.2 %

NYSE AIRC opened at $38.36 on Monday. Apartment Income REIT Corp. has a 12 month low of $28.22 and a 12 month high of $38.68. The stock has a market cap of $5.56 billion, a P/E ratio of 9.07 and a beta of 0.90. The stock’s fifty day moving average price is $32.21 and its 200-day moving average price is $32.14. 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 Announces Dividend

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 of this dividend 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 dividend payout ratio is currently 42.55%.

Insider Transactions at Apartment Income REIT

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

Apartment Income REIT 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.