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

Apartment Income REIT Corp. (NYSE:AIRC) saw strong trading volume on Tuesday . 3,072,356 shares traded hands during trading, an increase of 37% from the previous session’s volume of 2,244,660 shares.The stock last traded at $38.42 and had previously closed at $38.40.

Analyst Upgrades and Downgrades

AIRC has been the subject of several research reports. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. The Goldman Sachs Group restated a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Mizuho downgraded shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. Finally, Truist Financial cut their price target on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Trading Down 0.0 %

The firm has a market cap of $5.57 billion, a P/E ratio of 9.09 and a beta of 0.90. The business’s 50 day moving average is $33.37 and its 200-day moving average is $32.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10.

Apartment Income REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.68%. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Insider Transactions at Apartment Income REIT

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

Institutional Trading of Apartment Income REIT

A number of institutional investors and hedge funds have recently modified their holdings of AIRC. EverSource Wealth Advisors LLC raised its stake in Apartment Income REIT by 66.7% during the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares during the period. Quent Capital LLC raised its position in shares of Apartment Income REIT by 437.5% during the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after purchasing an additional 700 shares during the period. Signaturefd LLC bought a new stake in shares of Apartment Income REIT in the 4th quarter worth approximately $37,000. CWM LLC boosted its position in Apartment Income REIT by 64.2% during the 4th 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 period. Finally, Principal Securities Inc. bought a new position in Apartment Income REIT during the 4th quarter worth $48,000. 98.13% of the stock is owned by institutional investors and hedge funds.

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.