abrdn plc Trims Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

abrdn plc cut its position in Apartment Income REIT Corp. (NYSE:AIRC) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,492 shares of the company’s stock after selling 4,067 shares during the period. abrdn plc’s holdings in Apartment Income REIT were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Apartment Income REIT by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock valued at $416,681,000 after purchasing an additional 1,470,804 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Apartment Income REIT by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 9,131,443 shares of the company’s stock valued at $280,334,000 after acquiring an additional 213,160 shares during the last quarter. FMR LLC grew its position in Apartment Income REIT by 7.7% in the third quarter. FMR LLC now owns 5,758,309 shares of the company’s stock worth $176,780,000 after acquiring an additional 411,299 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Apartment Income REIT by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,376 shares of the company’s stock valued at $63,929,000 after purchasing an additional 107,786 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Apartment Income REIT by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock valued at $56,215,000 after purchasing an additional 93,029 shares during the last quarter. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AIRC. Truist Financial dropped their target price on 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. Mizuho downgraded shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. 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. Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Finally, Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.59.

Insider Buying and Selling

In related news, Director Thomas N. Bohjalian purchased 889 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $630,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Apartment Income REIT Stock Performance

Shares of NYSE:AIRC opened at $38.41 on Tuesday. 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 firm has a market capitalization of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90. The business’s 50-day moving average is $33.64 and its 200 day moving average is $32.74. Apartment Income REIT Corp. has a 1 year low of $28.22 and a 1 year high of $38.68.

Apartment Income REIT Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s payout ratio is currently 42.55%.

Apartment Income REIT 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.