Louisiana State Employees Retirement System Invests $1.43 Million in Apartment Income REIT Corp. (NYSE:AIRC)

Louisiana State Employees Retirement System bought a new position in shares of Apartment Income REIT Corp. (NYSE:AIRC) during the fourth quarter, Holdings Channel.com reports. The fund bought 41,300 shares of the company’s stock, valued at approximately $1,434,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AIRC shares. Wedbush restated a “neutral” rating and issued a $39.00 price objective (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. BMO Capital Markets restated a “market perform” rating and issued a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 price objective on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Finally, Truist Financial reduced their price objective on 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Stock Down 0.1 %

AIRC stock opened at $38.38 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 9.07 and a beta of 0.90. Apartment Income REIT Corp. has a fifty-two week low of $28.22 and a fifty-two week high of $38.68. The stock has a fifty day moving average of $32.83 and a 200-day moving average of $32.41.

Apartment Income REIT Dividend Announcement

The company 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 42.55%.

Insider Transactions at Apartment Income REIT

In other news, Director Thomas N. Bohjalian purchased 889 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $630,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.