Raymond James Financial Services Advisors Inc. Sells 3,121 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Raymond James Financial Services Advisors Inc. lessened its stake in Apartment Income REIT Corp. (NYSE:AIRC) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,826 shares of the company’s stock after selling 3,121 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Apartment Income REIT were worth $272,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates raised its position in Apartment Income REIT by 70.6% in the 4th quarter. Raymond James & Associates now owns 19,912 shares of the company’s stock worth $692,000 after purchasing an additional 8,241 shares during the last quarter. West Coast Financial LLC raised its position in Apartment Income REIT by 6.7% in the 4th quarter. West Coast Financial LLC now owns 85,172 shares of the company’s stock worth $2,958,000 after purchasing an additional 5,335 shares during the last quarter. Aurora Investment Managers LLC. raised its position in Apartment Income REIT by 8.2% in the 4th quarter. Aurora Investment Managers LLC. now owns 71,440 shares of the company’s stock worth $2,481,000 after purchasing an additional 5,407 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Apartment Income REIT by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 286,117 shares of the company’s stock worth $8,784,000 after purchasing an additional 2,657 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Apartment Income REIT by 91.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 51,407 shares of the company’s stock worth $1,578,000 after purchasing an additional 24,616 shares during the last quarter. Institutional investors own 98.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AIRC. Truist Financial dropped their target price on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 target price on shares of Apartment Income REIT in a research report on Thursday, February 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 target price (up previously from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Wedbush reiterated a “neutral” rating and set a $39.00 target price (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Apartment Income REIT has a consensus rating of “Hold” and an average target price of $36.59.

Apartment Income REIT Price Performance

AIRC opened at $38.41 on Tuesday. 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 Corp. has a 12 month low of $28.22 and a 12 month high of $38.68. The company has a fifty day simple moving average of $32.96 and a 200 day simple moving average of $32.48. The stock has a market cap of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend 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%.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $630,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.