Meristem Family Wealth LLC Makes New $206,000 Investment in Apartment Income REIT Corp. (NYSE:AIRC)

Meristem Family Wealth LLC acquired a new position in shares of Apartment Income REIT Corp. (NYSE:AIRC) during the first quarter, HoldingsChannel reports. The institutional investor acquired 4,822 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Apartment Income REIT by 2.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,321 shares of the company’s stock valued at $570,000 after acquiring an additional 268 shares during the period. BOKF NA increased its holdings in shares of Apartment Income REIT by 5.0% in the 1st quarter. BOKF NA now owns 9,447 shares of the company’s stock valued at $404,000 after acquiring an additional 453 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Apartment Income REIT by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 15,878 shares of the company’s stock valued at $679,000 after acquiring an additional 487 shares during the period. Whittier Trust Co. increased its holdings in shares of Apartment Income REIT by 9.8% in the 1st quarter. Whittier Trust Co. now owns 6,213 shares of the company’s stock valued at $266,000 after acquiring an additional 555 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Apartment Income REIT in the 4th quarter valued at $29,000. 92.23% of the stock is currently owned by institutional investors.

In other news, Director Kathleen M. Nelson sold 2,435 shares of the stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $45.31, for a total transaction of $110,329.85. Following the completion of the transaction, the director now directly owns 47,608 shares in the company, valued at approximately $2,157,118.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Paul Beldin sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief financial officer now owns 76,038 shares of the company’s stock, valued at $3,410,304.30. The disclosure for this sale can be found here.

Apartment Income REIT stock opened at $50.04 on Friday. Apartment Income REIT Corp. has a 52 week low of $35.99 and a 52 week high of $50.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 3.27. The stock has a 50-day simple moving average of $45.29. The stock has a market cap of $7.85 billion and a price-to-earnings ratio of 28.92.

Apartment Income REIT (NYSE:AIRC) last announced its earnings results on Thursday, April 29th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.07. As a group, research analysts forecast that Apartment Income REIT Corp. will post 2.02 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Friday, May 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Thursday, May 13th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 99.42%.

A number of equities analysts have recently commented on AIRC shares. Mizuho raised shares of Apartment Income REIT from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Thursday, June 3rd. Zacks Investment Research upgraded shares of Apartment Income REIT from a “sell” rating to a “hold” rating in a research report on Monday, April 19th. Finally, Zelman & Associates upgraded shares of Apartment Income REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.78.

About Apartment Income REIT

AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country's largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.

Recommended Story: Trade War

Want to see what other hedge funds are holding AIRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apartment Income REIT Corp. (NYSE:AIRC).

Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

Receive News & Ratings for Apartment Income REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apartment Income REIT and related companies with MarketBeat.com's FREE daily email newsletter.