Apartment Income REIT Corp. (NYSE:AIRC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Apartment Income REIT Corp. (NYSE:AIRC) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,037 shares of the company’s stock after selling 16,411 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Apartment Income REIT worth $4,204,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings 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 during the last quarter. Principal Financial Group Inc. raised its stake in shares of Apartment Income REIT by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 9,131,443 shares of the company’s stock valued at $280,334,000 after acquiring an additional 213,160 shares during the period. FMR LLC raised its stake in shares of Apartment Income REIT by 7.7% in the 3rd quarter. FMR LLC now owns 5,758,309 shares of the company’s stock valued at $176,780,000 after acquiring an additional 411,299 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Apartment Income REIT by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,082,376 shares of the company’s stock valued at $63,929,000 after acquiring an additional 107,786 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Apartment Income REIT by 5.4% in the 3rd 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. Institutional investors and hedge funds own 98.13% of the company’s stock.

Insider Transactions at Apartment Income REIT

In other Apartment Income REIT news, Director Thomas N. Bohjalian purchased 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, with a total value of $28,003.50. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $630,000. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Apartment Income REIT Price Performance

AIRC opened at $38.58 on Monday. The company has a 50-day moving average of $34.21 and a 200-day moving average of $32.93. The company has a market capitalization of $5.60 billion, a P/E ratio of 9.12 and a beta of 0.78. Apartment Income REIT Corp. has a 1-year low of $28.22 and a 1-year high of $38.68. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65.

Wall Street Analysts Forecast Growth

AIRC has been the topic of a number of research reports. Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $34.00 target price 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. Wedbush reaffirmed a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Finally, Mizuho downgraded shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $31.00 in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.59.

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.