Verition Fund Management LLC Has $1.09 Million Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Verition Fund Management LLC lifted its position in shares of Apartment Income REIT Corp. (NYSE:AIRCGet Rating) by 54.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,416 shares of the company’s stock after buying an additional 7,213 shares during the quarter. Verition Fund Management LLC’s holdings in Apartment Income REIT were worth $1,091,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV grew its holdings in Apartment Income REIT by 2.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,747 shares of the company’s stock worth $861,000 after purchasing an additional 409 shares during the period. First Republic Investment Management Inc. grew its holdings in Apartment Income REIT by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 33,339 shares of the company’s stock worth $1,782,000 after purchasing an additional 418 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Apartment Income REIT by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 29,600 shares of the company’s stock worth $1,582,000 after purchasing an additional 439 shares during the period. Truist Financial Corp grew its holdings in Apartment Income REIT by 11.4% in the first quarter. Truist Financial Corp now owns 4,550 shares of the company’s stock worth $243,000 after purchasing an additional 465 shares during the period. Finally, Covestor Ltd acquired a new stake in Apartment Income REIT in the fourth quarter worth $26,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Apartment Income REIT Stock Down 2.3 %

Apartment Income REIT stock opened at $39.85 on Wednesday. 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’s fifty day moving average price is $43.02 and its two-hundred day moving average price is $45.83. Apartment Income REIT Corp. has a 1-year low of $39.06 and a 1-year high of $55.82. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 6.55 and a beta of 1.07.

Apartment Income REIT (NYSE:AIRCGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.52 EPS. On average, equities research analysts predict that Apartment Income REIT Corp. will post 2.4 earnings per share for the current fiscal year.

Apartment Income REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors 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 dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, August 18th. Apartment Income REIT’s payout ratio is currently 29.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial reduced their price target on shares of Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating for the company in a report on Friday, June 24th. Jefferies Financial Group cut 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 report on Friday, July 22nd. Mizuho raised their price objective on shares of Apartment Income REIT from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Monday. Finally, BMO Capital Markets lowered shares of Apartment Income REIT from a “market perform” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a research note on Friday, August 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.71.

About Apartment Income REIT

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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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