Apartment Income REIT (NYSE:AIRC) Sees Large Volume Increase

Apartment Income REIT Corp. (NYSE:AIRC) shares saw unusually-strong trading volume on Tuesday . Approximately 6,533,318 shares were traded during trading, an increase of 204% from the previous session’s volume of 2,148,910 shares.The stock last traded at $38.31 and had previously closed at $38.32.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AIRC shares. Truist Financial reduced their price objective 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 cut Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.59.

Apartment Income REIT Stock Down 0.1 %

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. The firm has a 50 day simple moving average of $32.33 and a 200-day simple moving average of $32.19. The stock has a market cap of $5.55 billion, a P/E ratio of 9.06 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

The firm also recently disclosed 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 was Thursday, February 15th. This represents a $1.80 annualized dividend and a yield of 4.70%. Apartment Income REIT’s dividend payout ratio is 42.55%.

Insider Buying and Selling at Apartment Income REIT

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

Hedge Funds Weigh In On Apartment Income REIT

A number of hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina increased its stake in Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after acquiring an additional 330 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Apartment Income REIT by 5.2% in the 2nd quarter. Franklin Resources Inc. now owns 7,288 shares of the company’s stock valued at $263,000 after purchasing an additional 357 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Apartment Income REIT by 4.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 7,837 shares of the company’s stock valued at $269,000 after purchasing an additional 363 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Apartment Income REIT by 4.8% in the 3rd quarter. Lazard Asset Management LLC now owns 7,962 shares of the company’s stock valued at $244,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.

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.