Sumitomo Mitsui Trust Holdings Inc. Has $56.60 Million Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Apartment Income REIT Corp. (NYSE:AIRC) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,629,565 shares of the company’s stock after acquiring an additional 305,878 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 1.11% of Apartment Income REIT worth $56,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Belpointe Asset Management LLC raised its position in Apartment Income REIT by 356.7% in the 1st quarter. Belpointe Asset Management LLC now owns 813 shares of the company’s stock worth $29,000 after purchasing an additional 635 shares during the last quarter. Quent Capital LLC raised its position in shares of Apartment Income REIT by 437.5% during the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Apartment Income REIT by 66.7% during the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after acquiring an additional 353 shares during the period. Denali Advisors LLC boosted its holdings in Apartment Income REIT by 926.2% in the fourth quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock valued at $79,000 after acquiring an additional 2,047 shares during the last quarter. Finally, First Manhattan Co. bought a new position in Apartment Income REIT in the first quarter valued at about $121,000. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Apartment Income REIT Trading Up 0.1 %

NYSE:AIRC opened at $38.40 on Friday. The business’s 50-day simple moving average is $32.69 and its 200-day simple moving average is $32.33. Apartment Income REIT Corp. 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 current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $5.56 billion, a PE ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

The business also recently declared 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 Ratings Changes

Several brokerages have weighed in on AIRC. BMO Capital Markets reissued a “market perform” rating and set a $39.12 price objective (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Truist Financial lowered their target price on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Finally, Wedbush reaffirmed a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.59.

Insider Transactions at Apartment Income REIT

In related news, Director Thomas N. Bohjalian bought 889 shares of Apartment Income REIT stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $31.50 per share, with a total value of $28,003.50. Following the purchase, the director now owns 20,000 shares in the company, valued at $630,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

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.