Apartment Income REIT Corp. (NYSE:AIRC) Receives Consensus Rating of “Hold” from Analysts

Shares of Apartment Income REIT Corp. (NYSE:AIRC) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $36.59.

A number of analysts recently issued reports on the company. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Truist Financial dropped their price objective on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $31.50 per share, with a total value of $28,003.50. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $630,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Apartment Income REIT by 66.7% in the third 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. Quent Capital LLC grew its position in shares of Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after buying an additional 700 shares during the last quarter. Signaturefd LLC purchased a new stake in Apartment Income REIT in the fourth quarter valued at $37,000. CWM LLC boosted 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 acquiring an additional 501 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Apartment Income REIT during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Trading Down 0.1 %

Shares of Apartment Income REIT stock opened at $38.42 on Friday. Apartment Income REIT has a fifty-two week low of $28.22 and a fifty-two week high of $38.68. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. The stock has a 50 day moving average of $33.51 and a 200 day moving average of $32.67.

Apartment Income REIT Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio is presently 42.55%.

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.