Apartment Income REIT Corp. (NYSE:AIRC) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Apartment Income REIT Corp. (NYSE:AIRCGet Rating) by 3.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 108,863 shares of the company’s stock after selling 3,545 shares during the quarter. Amalgamated Bank’s holdings in Apartment Income REIT were worth $5,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Apartment Income REIT by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 1,667,336 shares of the company’s stock worth $89,135,000 after buying an additional 54,551 shares during the last quarter. Strs Ohio boosted its stake in Apartment Income REIT by 22.5% during the first quarter. Strs Ohio now owns 211,995 shares of the company’s stock worth $11,333,000 after buying an additional 38,992 shares during the last quarter. State Street Corp boosted its stake in Apartment Income REIT by 7.2% during the fourth quarter. State Street Corp now owns 7,522,299 shares of the company’s stock worth $411,244,000 after buying an additional 507,999 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Apartment Income REIT during the first quarter worth $5,150,000. Finally, Aurora Investment Managers LLC. lifted its stake in shares of Apartment Income REIT by 2.0% in the 1st quarter. Aurora Investment Managers LLC. now owns 50,639 shares of the company’s stock valued at $2,707,000 after purchasing an additional 991 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

Apartment Income REIT Price Performance

AIRC opened at $41.21 on Monday. The stock’s 50-day moving average price is $43.05 and its 200 day moving average price is $45.96. Apartment Income REIT Corp. has a 12-month low of $39.06 and a 12-month high of $55.82. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.30. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 6.78 and a beta of 1.07.

Apartment Income REIT (NYSE:AIRCGet Rating) last posted its earnings results on Thursday, July 28th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $1.04. Apartment Income REIT had a return on equity of 47.81% and a net margin of 127.20%. During the same quarter last year, the business posted $0.52 EPS. As a group, sell-side analysts expect that Apartment Income REIT Corp. will post 2.4 earnings per share for the current year.

Apartment Income REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.80 annualized dividend and a yield of 4.37%. Apartment Income REIT’s dividend payout ratio (DPR) is 29.61%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AIRC shares. Jefferies Financial Group lowered Apartment Income REIT from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research note on Friday, July 22nd. Truist Financial decreased their price target on Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. BMO Capital Markets lowered Apartment Income REIT from a “market perform” rating to an “underperform” rating and set a $43.00 price target on the stock. in a research note on Friday, August 19th. Finally, Mizuho decreased their price target on Apartment Income REIT from $59.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.57.

Apartment Income REIT Profile

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AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country's largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.

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Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

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