New York State Common Retirement Fund Trims Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

New York State Common Retirement Fund reduced its position in Apartment Income REIT Corp. (NYSE:AIRCFree Report) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 137,448 shares of the company’s stock after selling 16,762 shares during the period. New York State Common Retirement Fund’s holdings in Apartment Income REIT were worth $4,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Apartment Income REIT by 77.7% in the second quarter. JPMorgan Chase & Co. now owns 12,101,876 shares of the company’s stock valued at $436,757,000 after purchasing an additional 5,292,636 shares during the period. Alliancebernstein L.P. increased its position in Apartment Income REIT by 1,327.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,969,503 shares of the company’s stock valued at $143,259,000 after acquiring an additional 3,691,350 shares during the period. Norges Bank acquired a new position in Apartment Income REIT in the 4th quarter valued at about $53,319,000. State Street Corp increased its holdings 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 valued at $457,802,000 after purchasing an additional 1,041,150 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Apartment Income REIT by 87.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock valued at $40,637,000 after purchasing an additional 618,134 shares during the period. 98.13% of the stock is owned by hedge funds and other institutional investors.

Apartment Income REIT Trading Up 0.8 %

Shares of AIRC stock opened at $31.63 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.55. Apartment Income REIT Corp. has a 1-year low of $28.22 and a 1-year high of $40.28. The firm has a market capitalization of $4.65 billion, a PE ratio of 7.48 and a beta of 0.94. The business’s fifty day moving average price is $33.73 and its 200 day moving average price is $32.46.

Apartment Income REIT Announces Dividend

The business also recently declared 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 5.69%. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AIRC shares. Raymond James initiated coverage on Apartment Income REIT in a report on Tuesday, October 24th. They issued an “outperform” rating and a $37.00 target price on the stock. TheStreet upgraded shares of Apartment Income REIT from a “d+” rating to a “c” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Apartment Income REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Get Our Latest Report on Apartment Income REIT

Apartment Income REIT Company Profile

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

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