Nisa Investment Advisors LLC Decreases Stake in Apartment Income REIT Corp. (NYSE:AIRC)

Nisa Investment Advisors LLC decreased its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,048 shares of the company’s stock after selling 5,410 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Apartment Income REIT were worth $1,703,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AIRC. Belpointe Asset Management LLC lifted its holdings in Apartment Income REIT by 356.7% in the first quarter. Belpointe Asset Management LLC now owns 813 shares of the company’s stock worth $29,000 after acquiring an additional 635 shares during the last quarter. Quent Capital LLC raised its holdings in Apartment Income REIT by 437.5% during the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Apartment Income REIT by 66.7% during the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares in the last quarter. Denali Advisors LLC raised its holdings in Apartment Income REIT by 926.2% during the fourth quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock worth $79,000 after purchasing an additional 2,047 shares in the last quarter. Finally, First Manhattan Co. acquired a new position in Apartment Income REIT in the first quarter worth approximately $121,000. Institutional investors own 98.13% of the company’s stock.

Wall Street Analysts Forecast Growth

AIRC has been the topic of several recent research reports. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday. Mizuho cut shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $31.00 in a report on Wednesday, February 28th. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Finally, Truist Financial reduced their price objective on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.59.

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $630,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Apartment Income REIT Stock Down 0.2 %

Apartment Income REIT stock opened at $38.36 on Monday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 9.07 and a beta of 0.90. 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 fifty-two week low of $28.22 and a fifty-two week high of $38.68. The firm has a fifty day moving average price of $32.21 and a two-hundred day moving average price of $32.14.

Apartment Income REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were given a dividend of $0.45 per share. 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 dividend payout ratio is 42.55%.

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.