Dimensional Fund Advisors LP Sells 126,216 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Dimensional Fund Advisors LP reduced its position in Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,144,504 shares of the company’s stock after selling 126,216 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Apartment Income REIT were worth $73,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Apartment Income REIT by 0.5% in the first quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock worth $1,224,933,000 after purchasing an additional 119,016 shares during the period. State Street Corp boosted its position in shares of Apartment Income REIT by 13.8% in the first quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after purchasing an additional 1,041,150 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Apartment Income REIT by 19.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,871,369 shares of the company’s stock worth $100,044,000 after purchasing an additional 309,508 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Apartment Income REIT by 7.3% in the third quarter. Nuveen Asset Management LLC now owns 1,782,008 shares of the company’s stock worth $68,821,000 after purchasing an additional 120,774 shares during the period. Finally, Long Pond Capital LP boosted its position in shares of Apartment Income REIT by 4.1% in the third quarter. Long Pond Capital LP now owns 1,622,956 shares of the company’s stock worth $62,679,000 after purchasing an additional 63,199 shares during the period. 99.35% of the stock is currently owned by institutional investors.

Apartment Income REIT Price Performance

Apartment Income REIT stock opened at $34.61 on Thursday. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 10.30 and a beta of 0.90. The firm’s fifty day moving average is $35.26 and its 200 day moving average is $36.27. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.50. Apartment Income REIT Corp. has a 52-week low of $32.51 and a 52-week high of $46.38.

Apartment Income REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Friday, May 19th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Thursday, May 18th. Apartment Income REIT’s payout ratio is 53.57%.

Insider Activity at Apartment Income REIT

In related news, insider Keith M. Kimmel sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $35.75, for a total transaction of $286,000.00. Following the sale, the insider now 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 SEC, which is available through the SEC website. In other news, Director Devin Ignatius Murphy acquired 2,500 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were acquired at an average price of $34.00 per share, for a total transaction of $85,000.00. Following the completion of the transaction, the director now directly owns 11,386 shares of the company’s stock, valued at approximately $387,124. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith M. Kimmel sold 8,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $35.75, for a total transaction of $286,000.00. Following the transaction, the insider now owns 34,345 shares in the company, valued at approximately $1,227,833.75. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on AIRC shares. BMO Capital Markets raised shares of Apartment Income REIT from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a report on Wednesday, March 15th. Mizuho lowered their target price on shares of Apartment Income REIT from $45.00 to $40.00 in a report on Friday, May 19th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Apartment Income REIT Company Profile

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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.