Pictet Asset Management SA Acquires 1,633 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Pictet Asset Management SA grew its holdings in Apartment Income REIT Corp. (NYSE:AIRCGet Rating) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,733 shares of the company’s stock after acquiring an additional 1,633 shares during the quarter. Pictet Asset Management SA’s holdings in Apartment Income REIT were worth $2,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Apartment Income REIT in the second quarter valued at about $32,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Apartment Income REIT in the first quarter valued at about $37,000. Meeder Asset Management Inc. acquired a new position in Apartment Income REIT in the first quarter valued at about $59,000. Convergence Investment Partners LLC acquired a new position in Apartment Income REIT in the second quarter valued at about $105,000. Finally, First Manhattan Co. acquired a new position in Apartment Income REIT in the first quarter valued at about $121,000. Institutional investors and hedge funds own 99.08% of the company’s stock.

Apartment Income REIT Stock Performance

Apartment Income REIT stock opened at $36.55 on Tuesday. The business has a 50 day moving average of $38.02 and a 200-day moving average of $41.20. Apartment Income REIT Corp. has a 1 year low of $35.22 and a 1 year high of $55.82. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $5.48 billion, a P/E ratio of 6.00 and a beta of 0.89.

Apartment Income REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Friday, November 18th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Thursday, November 17th. Apartment Income REIT’s dividend payout ratio is currently 29.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AIRC. Jefferies Financial Group dropped their price target on Apartment Income REIT from $44.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, October 19th. BMO Capital Markets downgraded Apartment Income REIT from a “market perform” rating to an “underperform” rating and set a $43.00 target price for the company. in a research note on Friday, August 19th. Mizuho lowered their target price on Apartment Income REIT from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. Finally, The Goldman Sachs Group lowered their target price on Apartment Income REIT from $45.00 to $39.00 and set a “sell” rating for the company in a research note on Tuesday, October 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.57.

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.

See Also

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

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