Apartment Income REIT Corp. (NYSE:AIRC) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in Apartment Income REIT Corp. (NYSE:AIRC) by 70.6% during the 4th quarter, Holdings Channel reports. The fund owned 19,912 shares of the company’s stock after buying an additional 8,241 shares during the quarter. Raymond James & Associates’ holdings in Apartment Income REIT were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Apartment Income REIT by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock worth $416,681,000 after acquiring an additional 1,470,804 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its stake in shares of Apartment Income REIT by 195.6% in the third quarter. Lasalle Investment Management Securities LLC now owns 1,555,044 shares of the company’s stock valued at $47,740,000 after purchasing an additional 1,029,054 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 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 purchasing an additional 618,134 shares during the period. FMR LLC boosted its holdings in Apartment Income REIT by 7.7% during the third quarter. FMR LLC now owns 5,758,309 shares of the company’s stock worth $176,780,000 after buying an additional 411,299 shares in the last quarter. Finally, Walleye Capital LLC grew its position in Apartment Income REIT by 89.6% during the third quarter. Walleye Capital LLC now owns 674,518 shares of the company’s stock worth $20,708,000 after buying an additional 318,748 shares during the period. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apartment Income REIT

In other Apartment Income REIT news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $630,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AIRC shares. Raymond James lowered Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Truist Financial decreased their target price on 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. Mizuho cut Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $34.00 price objective on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Stock Performance

Shares of NYSE AIRC opened at $38.41 on Wednesday. The company has a 50-day simple moving average of $33.10 and a 200-day simple moving average of $32.53. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $5.57 billion, a PE ratio of 9.08 and a beta of 0.90. Apartment Income REIT Corp. has a 12 month low of $28.22 and a 12 month high of $38.68.

Apartment Income REIT Dividend Announcement

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

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.