Yousif Capital Management LLC Sells 738 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Yousif Capital Management LLC lessened its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 73,583 shares of the company’s stock after selling 738 shares during the period. Yousif Capital Management LLC’s holdings in Apartment Income REIT were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Treasurer of the State of North Carolina grew its position in Apartment Income REIT by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock valued at $2,006,000 after buying an additional 330 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Apartment Income REIT by 66.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after acquiring an additional 353 shares during the period. Penserra Capital Management LLC increased its stake in shares of Apartment Income REIT by 2.5% during the 3rd quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock worth $465,000 after purchasing an additional 374 shares during the last quarter. Manning & Napier Group LLC raised its holdings in shares of Apartment Income REIT by 0.5% in the 4th quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock worth $3,205,000 after purchasing an additional 463 shares during the period. Finally, CWM LLC lifted its stake in Apartment Income REIT by 64.2% in the fourth quarter. CWM LLC now owns 1,281 shares of the company’s stock valued at $44,000 after purchasing an additional 501 shares during the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Apartment Income REIT Price Performance

AIRC opened at $38.41 on Tuesday. The firm has a market capitalization of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90. Apartment Income REIT Corp. has a one year low of $28.22 and a one year high of $38.68. The company has a fifty day moving average price of $33.64 and a 200-day moving average price of $32.74. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were issued a $0.45 dividend. The ex-dividend date of this dividend 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 currently 42.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIRC. BMO Capital Markets reissued a “market perform” rating and issued a $39.12 target price (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their target price for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. Wedbush reiterated a “neutral” rating and issued a $39.00 target price (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.59.

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.