Apartment Income REIT Corp. (NYSE:AIRC) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 71,832 shares of the company’s stock after acquiring an additional 1,572 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apartment Income REIT were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Summit Global Investments bought a new position in shares of Apartment Income REIT during the third quarter valued at approximately $207,000. Bank of New York Mellon Corp increased its position in Apartment Income REIT by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock worth $56,215,000 after buying an additional 93,029 shares during the period. New York State Teachers Retirement System increased its position in Apartment Income REIT by 6.1% in the third quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock worth $6,127,000 after buying an additional 11,465 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Apartment Income REIT by 87.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock valued at $40,637,000 after buying an additional 618,134 shares during the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of Apartment Income REIT during the third quarter valued at $257,000. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Price Performance

NYSE AIRC opened at $38.41 on Wednesday. The firm has a market capitalization of $5.57 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 current ratio of 0.65 and a quick ratio of 0.65. Apartment Income REIT Corp. has a 12 month low of $28.22 and a 12 month high of $38.68. The company’s 50 day simple moving average is $33.10 and its 200 day simple moving average is $32.53.

Apartment Income REIT Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AIRC. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Wedbush restated a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 target price on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Finally, Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their target price for the company from $37.00 to $31.00 in a research note 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. According to MarketBeat, Apartment Income REIT presently has an average rating of “Hold” and a consensus price target of $36.59.

Insider Transactions at Apartment Income REIT

In other news, Director Thomas N. Bohjalian bought 889 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $31.50 per share, with a total value of $28,003.50. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $630,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.