Federated Hermes Inc. Grows Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Federated Hermes Inc. grew its stake in Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,997 shares of the company’s stock after acquiring an additional 3,148 shares during the period. Federated Hermes Inc.’s holdings in Apartment Income REIT were worth $1,313,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Apartment Income REIT in the 2nd quarter valued at approximately $32,000. Ellevest Inc. raised its stake in shares of Apartment Income REIT by 275.0% in the 3rd quarter. Ellevest Inc. now owns 975 shares of the company’s stock valued at $38,000 after acquiring an additional 715 shares during the period. Private Trust Co. NA purchased a new stake in shares of Apartment Income REIT in the 2nd quarter valued at approximately $42,000. Bessemer Group Inc. raised its stake in shares of Apartment Income REIT by 42.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock valued at $47,000 after acquiring an additional 366 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of Apartment Income REIT in the 3rd quarter valued at approximately $48,000. 99.35% of the stock is owned by hedge funds and other institutional investors.

Apartment Income REIT Trading Down 4.6 %

NYSE AIRC opened at $34.91 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.40. Apartment Income REIT Corp. has a 52 week low of $33.57 and a 52 week high of $55.82. The stock has a market capitalization of $5.21 billion, a PE ratio of 5.99 and a beta of 0.93. The firm has a 50 day moving average of $37.40 and a two-hundred day moving average of $37.70.

Apartment Income REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.16%. The ex-dividend date was Thursday, February 16th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AIRC shares. Wolfe Research began coverage on shares of Apartment Income REIT in a research note on Monday, January 23rd. They issued an “outperform” rating and a $39.00 price target on the stock. The Goldman Sachs Group upgraded shares of Apartment Income REIT from a “sell” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $43.00 in a report on Thursday, December 8th. Truist Financial dropped their price objective on shares of Apartment Income REIT from $48.00 to $39.00 and set a “hold” rating for the company in a report on Tuesday, November 29th. Mizuho lifted their price objective on shares of Apartment Income REIT from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Apartment Income REIT to $42.00 in a report on Thursday, December 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.78.

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.