Strs Ohio Makes New $6.38 Million Investment in Apartment Income REIT Corp. (NYSE:AIRC)

Strs Ohio acquired a new position in Apartment Income REIT Corp. (NYSE:AIRC) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 183,800 shares of the company’s stock, valued at approximately $6,383,000. Strs Ohio owned approximately 0.13% of Apartment Income REIT at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in shares of Apartment Income REIT by 1,327.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,969,503 shares of the company’s stock valued at $143,259,000 after purchasing an additional 3,691,350 shares in the last quarter. Norges Bank acquired a new stake in shares of Apartment Income REIT in the 4th quarter valued at about $53,319,000. JPMorgan Chase & Co. raised its stake in shares of Apartment Income REIT by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock valued at $416,681,000 after purchasing an additional 1,470,804 shares in the last quarter. State Street Corp raised its stake in shares of Apartment Income REIT by 13.8% in the 1st quarter. State Street Corp now owns 8,563,449 shares of the company’s stock valued at $457,802,000 after purchasing an additional 1,041,150 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC raised its stake in Apartment Income REIT by 195.6% during the third quarter. Lasalle Investment Management Securities LLC now owns 1,555,044 shares of the company’s stock worth $47,740,000 after acquiring an additional 1,029,054 shares during the period. Institutional investors and hedge funds own 98.13% of the company’s stock.

Apartment Income REIT Price Performance

NYSE AIRC opened at $38.40 on Friday. The company has a 50-day moving average price of $32.69 and a two-hundred day moving average price of $32.33. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. Apartment Income REIT Corp. has a 52 week low of $28.22 and a 52 week high of $38.68.

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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Analyst Upgrades and Downgrades

AIRC has been the topic of several research reports. Truist Financial dropped their price objective on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $37.00 to $31.00 in a research note on Wednesday, February 28th. Finally, Wedbush restated a “neutral” rating and issued a $39.00 target price (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Apartment Income REIT currently has a consensus rating of “Hold” and a consensus target price of $36.59.

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Apartment Income REIT 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.