Barclays PLC lowered its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC – Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,678 shares of the company’s stock after selling 5,399 shares during the period. Barclays PLC’s holdings in Apartment Income REIT were worth $5,058,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AIRC. EverSource Wealth Advisors LLC raised its position in shares of Apartment Income REIT by 66.7% in the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after buying an additional 353 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Apartment Income REIT by 5.2% in the second quarter. Franklin Resources Inc. now owns 7,288 shares of the company’s stock worth $263,000 after buying an additional 357 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Apartment Income REIT by 4.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,837 shares of the company’s stock worth $269,000 after buying an additional 363 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Apartment Income REIT by 2.2% in the second quarter. Van ECK Associates Corp now owns 16,839 shares of the company’s stock worth $608,000 after buying an additional 369 shares in the last quarter. Finally, Centiva Capital LP raised its position in shares of Apartment Income REIT by 6.9% in the fourth quarter. Centiva Capital LP now owns 5,985 shares of the company’s stock worth $205,000 after buying an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 98.13% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on AIRC shares. TheStreet raised Apartment Income REIT from a “d+” rating to a “c” rating in a research note on Tuesday, December 12th. Raymond James started coverage on Apartment Income REIT in a research note on Tuesday, October 24th. They issued an “outperform” rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Apartment Income REIT currently has an average rating of “Moderate Buy” and an average price target of $38.67.
Apartment Income REIT Stock Down 2.7 %
Shares of NYSE:AIRC opened at $31.38 on Friday. The stock’s 50-day moving average price is $33.74 and its 200-day moving average price is $32.52. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $40.28. The stock has a market capitalization of $4.61 billion, a P/E ratio of 4.82 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.01.
Apartment Income REIT Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.74%. Apartment Income REIT’s dividend payout ratio (DPR) is currently 27.65%.
Apartment Income REIT Profile
Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 75 communities totaling 26,623 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management.
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