Insider Selling: Apartment Income REIT Corp. (NYSE:AIRC) Insider Sells $286,000.00 in Stock

Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) insider Keith M. Kimmel sold 8,000 shares of Apartment Income REIT stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $35.75, for a total transaction of $286,000.00. Following the transaction, the insider now directly owns 34,345 shares of the company’s stock, valued at $1,227,833.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Apartment Income REIT Price Performance

Shares of NYSE AIRC opened at $34.08 on Friday. The business has a fifty day moving average price of $37.50 and a two-hundred day moving average price of $37.49. The stock has a market capitalization of $5.08 billion, a PE ratio of 5.85 and a beta of 0.93. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.33 and a quick ratio of 0.33. Apartment Income REIT Corp. has a fifty-two week low of $33.57 and a fifty-two week high of $55.82.

Apartment Income REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 17th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Thursday, February 16th. Apartment Income REIT’s payout ratio is currently 30.87%.

Analyst Ratings Changes

AIRC has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Apartment Income REIT in a report on Monday, January 23rd. They set an “outperform” rating and a $39.00 target price for the company. Citigroup reduced their price objective on Apartment Income REIT from $47.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, November 29th. Mizuho increased their target price on Apartment Income REIT from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Truist Financial reduced their price target on Apartment Income REIT from $48.00 to $39.00 and set a “hold” rating for the company in a research note on Tuesday, November 29th. Finally, The Goldman Sachs Group upgraded Apartment Income REIT from a “sell” rating to a “buy” rating and increased their price objective for the stock from $39.00 to $43.00 in a research report on Thursday, December 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Apartment Income REIT presently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Apartment Income REIT by 7.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,859 shares of the company’s stock valued at $581,000 after buying an additional 784 shares during the period. Natixis Advisors L.P. increased its stake in Apartment Income REIT by 39.1% in the first quarter. Natixis Advisors L.P. now owns 15,307 shares of the company’s stock valued at $818,000 after acquiring an additional 4,306 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Apartment Income REIT by 11.2% in the first quarter. Allianz Asset Management GmbH now owns 329,852 shares of the company’s stock valued at $17,634,000 after acquiring an additional 33,198 shares during the last quarter. Vanguard Group Inc. raised its position in Apartment Income REIT by 0.5% during the first quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock valued at $1,224,933,000 after purchasing an additional 119,016 shares in the last quarter. Finally, Cibc World Markets Corp lifted its stake in Apartment Income REIT by 0.7% during the first quarter. Cibc World Markets Corp now owns 79,022 shares of the company’s stock worth $4,225,000 after purchasing an additional 543 shares during the last quarter. Institutional investors and hedge funds own 99.35% of the company’s stock.

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.