Neuberger Berman Group LLC Buys 40,906 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Neuberger Berman Group LLC increased its stake in shares of Apartment Income REIT Corp. (NYSE:AIRCGet Rating) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,153,289 shares of the company’s stock after acquiring an additional 40,906 shares during the quarter. Neuberger Berman Group LLC’s holdings in Apartment Income REIT were worth $61,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIRC. Bank of New York Mellon Corp lifted its position 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 valued at $89,135,000 after purchasing an additional 54,551 shares during the last quarter. Strs Ohio lifted its position in Apartment Income REIT by 22.5% during the first quarter. Strs Ohio now owns 211,995 shares of the company’s stock valued at $11,333,000 after purchasing an additional 38,992 shares during the last quarter. State Street Corp lifted its position 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 valued at $411,244,000 after purchasing an additional 507,999 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Apartment Income REIT during the first quarter valued at $5,150,000. Finally, Aurora Investment Managers LLC. lifted its position in Apartment Income REIT by 2.0% during the first 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 own 99.08% of the company’s stock.

Apartment Income REIT Trading Up 0.6 %

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

Apartment Income REIT (NYSE:AIRCGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.22 by $1.04. Apartment Income REIT had a net margin of 127.20% and a return on equity of 47.81%. During the same period in the prior year, the firm posted $0.52 EPS. On average, research analysts anticipate that Apartment Income REIT Corp. will post 2.4 EPS for the current year.

Apartment Income REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Apartment Income REIT Company 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.

Further Reading

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

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