Strs Ohio Buys New Stake in Apartment Income REIT Corp. (NYSE:AIRC)

Strs Ohio bought a new stake in Apartment Income REIT Corp. (NYSE:AIRC) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 183,800 shares of the company’s stock, valued at approximately $6,383,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. grew its position in Apartment Income REIT by 1,327.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,969,503 shares of the company’s stock worth $143,259,000 after purchasing an additional 3,691,350 shares during the last quarter. Norges Bank acquired a new stake in Apartment Income REIT in the 4th quarter worth $53,319,000. JPMorgan Chase & Co. grew its position in Apartment Income REIT by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock worth $416,681,000 after purchasing an additional 1,470,804 shares during the last quarter. State Street Corp grew its position in Apartment Income REIT by 13.8% in the 1st quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after purchasing an additional 1,041,150 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC grew its position in Apartment Income REIT by 195.6% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 1,555,044 shares of the company’s stock worth $47,740,000 after purchasing an additional 1,029,054 shares during the last quarter. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Apartment Income REIT Trading Up 0.1 %

Shares of AIRC stock opened at $38.40 on Friday. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68. The company has a market capitalization of $5.56 billion, a P/E ratio of 9.08 and a beta of 0.90. The firm has a 50-day moving average price of $32.69 and a 200 day moving average price of $32.33. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10.

Apartment Income REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend 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 currently 42.55%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AIRC shares. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.12 price objective (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Finally, Mizuho downgraded shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.59.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian purchased 889 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now directly 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 is accessible through this hyperlink. 1.00% of the stock is currently owned by 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.