Apartment Income REIT (NYSE:AIRC) Hits New 12-Month Low at $35.28

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $35.28 and last traded at $35.43, with a volume of 298 shares changing hands. The stock had previously closed at $36.30.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Apartment Income REIT from $44.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, October 19th. The Goldman Sachs Group cut their price target on shares of Apartment Income REIT from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Tuesday, October 18th. BMO Capital Markets downgraded shares of Apartment Income REIT from a “market perform” rating to an “underperform” rating and set a $43.00 price target on the stock. in a report on Friday, August 19th. Finally, Mizuho cut their price target on shares of Apartment Income REIT from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Apartment Income REIT presently has a consensus rating of “Hold” and a consensus price target of $45.57.

Apartment Income REIT Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $5.43 billion, a P/E ratio of 6.00 and a beta of 0.89. The stock’s 50 day simple moving average is $38.15 and its 200 day simple moving average is $41.38.

Apartment Income REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.80 dividend on an annualized basis and a yield of 4.97%. Apartment Income REIT’s dividend payout ratio is currently 29.85%.

Hedge Funds Weigh In On Apartment Income REIT

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in Apartment Income REIT in the 2nd quarter worth about $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Apartment Income REIT in the 1st quarter worth about $37,000. Ellevest Inc. boosted its stake in shares of Apartment Income REIT by 275.0% during the third quarter. Ellevest Inc. now owns 975 shares of the company’s stock valued at $38,000 after purchasing an additional 715 shares in the last quarter. Private Trust Co. NA bought a new position in shares of Apartment Income REIT during the second quarter valued at approximately $42,000. Finally, Bessemer Group Inc. boosted its stake in shares of Apartment Income REIT by 42.9% during the third quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock valued at $47,000 after purchasing an additional 366 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors.

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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