Sumitomo Mitsui Trust Holdings Inc. Has $56.60 Million Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Apartment Income REIT Corp. (NYSE:AIRC) by 23.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629,565 shares of the company’s stock after buying an additional 305,878 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Apartment Income REIT were worth $56,595,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Apartment Income REIT by 2.4% in the third quarter. Invesco Ltd. now owns 975,323 shares of the company’s stock valued at $29,942,000 after buying an additional 22,830 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Apartment Income REIT by 353.0% in the 3rd quarter. Wolverine Asset Management LLC now owns 55,317 shares of the company’s stock valued at $1,698,000 after acquiring an additional 43,107 shares in the last quarter. Capital Square LLC boosted its stake in Apartment Income REIT by 6.9% during the 4th quarter. Capital Square LLC now owns 22,627 shares of the company’s stock valued at $786,000 after purchasing an additional 1,468 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after purchasing an additional 330 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Apartment Income REIT by 2.2% in the third quarter. UBS Group AG now owns 168,156 shares of the company’s stock worth $5,162,000 after purchasing an additional 3,605 shares during the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian bought 889 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $31.50 per share, with a total value of $28,003.50. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AIRC shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research 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. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Truist Financial dropped their price target on shares of 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, BMO Capital Markets reaffirmed a “market perform” rating and issued a $39.12 price objective (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Eight research 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 a consensus target price of $36.59.

Apartment Income REIT Stock Performance

NYSE AIRC opened at $38.40 on Friday. The company has a market capitalization of $5.56 billion, a PE ratio of 9.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. Apartment Income REIT Corp. has a 52-week low of $28.22 and a 52-week high of $38.68. The company has a 50-day simple moving average of $32.69 and a 200 day simple moving average of $32.33.

Apartment Income REIT Announces Dividend

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

About Apartment Income REIT

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.