Apartment Income REIT Corp. (NYSE:AIRC) Given Average Recommendation of “Hold” by Brokerages

Shares of Apartment Income REIT Corp. (NYSE:AIRC) have been given an average rating of “Hold” by the nine analysts that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $36.59.

A number of research firms have commented on AIRC. Truist Financial cut 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 research report on Tuesday, April 9th. Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Wedbush reissued a “neutral” rating and set a $39.00 price objective (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. BMO Capital Markets reissued 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 report on Tuesday, April 9th. Finally, 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.

Apartment Income REIT Price Performance

AIRC stock opened at $38.47 on Friday. The firm has a 50 day moving average price of $33.24 and a 200-day moving average price of $32.57. Apartment Income REIT has a 52-week low of $28.22 and a 52-week high of $38.68. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 9.09 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65.

Apartment Income REIT Announces Dividend

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

Insider Activity

In other Apartment Income REIT news, Director Thomas N. Bohjalian bought 889 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $31.50 per share, with a total value of $28,003.50. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $630,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quent Capital LLC raised its position in 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 buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Apartment Income REIT in the 4th quarter valued at about $37,000. CWM LLC increased its holdings in shares of Apartment Income REIT by 64.2% in 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 in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Apartment Income REIT in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 98.13% of the company’s stock.

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.