Stevens Capital Management LP Acquires New Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Stevens Capital Management LP acquired a new position in Apartment Income REIT Corp. (NYSE:AIRC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,647 shares of the company’s stock, valued at approximately $370,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Apartment Income REIT by 5.4% during the third quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock valued at $56,215,000 after acquiring an additional 93,029 shares during the period. New York State Teachers Retirement System boosted its stake in Apartment Income REIT by 6.1% during the third quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock valued at $6,127,000 after buying an additional 11,465 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Apartment Income REIT by 4.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,260 shares of the company’s stock valued at $2,157,000 after acquiring an additional 3,201 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Apartment Income REIT by 87.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock valued at $40,637,000 after purchasing an additional 618,134 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of Apartment Income REIT in the 3rd quarter worth approximately $257,000. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Apartment Income REIT Stock Performance

NYSE AIRC traded down $0.04 during trading on Friday, hitting $38.42. The company’s stock had a trading volume of 3,177,505 shares, compared to its average volume of 2,315,473. Apartment Income REIT Corp. has a 52 week low of $28.22 and a 52 week high of $38.68. 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 market cap of $5.57 billion, a P/E ratio of 9.10 and a beta of 0.90. The firm has a 50 day moving average price of $33.37 and a 200 day moving average price of $32.62.

Apartment Income REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors 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 yield of 4.69%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian bought 889 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $630,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AIRC shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $34.00 price target on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Raymond James downgraded shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Finally, Janney Montgomery Scott reaffirmed 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. According to MarketBeat.com, Apartment Income REIT currently has an average rating of “Hold” and a consensus target price of $36.59.

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.