State of Alaska Department of Revenue decreased its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 161,590 shares of the company’s stock after selling 4,619 shares during the quarter. State of Alaska Department of Revenue owned 0.10% of Apartment Income REIT worth $6,721,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Covestor Ltd acquired a new position in Apartment Income REIT in the fourth quarter valued at about $26,000. abrdn plc lifted its position in shares of Apartment Income REIT by 5.9% during the fourth quarter. abrdn plc now owns 33,799 shares of the company’s stock worth $1,848,000 after purchasing an additional 1,872 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Apartment Income REIT by 14.2% during the fourth quarter. Allianz Asset Management GmbH now owns 296,654 shares of the company’s stock worth $16,218,000 after purchasing an additional 36,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apartment Income REIT by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,561,861 shares of the company’s stock worth $85,387,000 after purchasing an additional 34,612 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Apartment Income REIT by 83.5% during the fourth quarter. Renaissance Technologies LLC now owns 714,833 shares of the company’s stock worth $39,080,000 after purchasing an additional 325,333 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
AIRC has been the topic of a number of research reports. 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 on the stock. in a research report on Friday, August 19th. Truist Financial reduced their target price on shares of Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. Jefferies Financial Group downgraded shares of Apartment Income REIT from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research note on Friday, July 22nd. Finally, Mizuho boosted their price target on shares of Apartment Income REIT from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Apartment Income REIT has an average rating of “Hold” and an average price target of $48.71.
Apartment Income REIT Stock Down 1.0 %
Apartment Income REIT (NYSE:AIRC – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating 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 previous year, the firm earned $0.52 earnings per share. Analysts forecast 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. Stockholders of record on Friday, August 19th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Thursday, August 18th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 29.61%.
Apartment Income REIT Company Profile
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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