Apartment Income REIT Corp. (NYSE:AIRC) Receives $37.71 Consensus PT from Analysts

Shares of Apartment Income REIT Corp. (NYSE:AIRC) have received an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $37.71.

AIRC has been the subject of several analyst reports. TheStreet raised Apartment Income REIT from a “d+” rating to a “c” rating in a research report on Tuesday, December 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $34.00 target price on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Mizuho cut Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $31.00 in a research note on Wednesday, February 28th.

Insider Buying and Selling at Apartment Income REIT

In related news, Director Thomas N. Bohjalian purchased 889 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $630,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Apartment Income REIT

A number of institutional investors and hedge funds have recently made changes to their positions in AIRC. Raymond James Financial Services Advisors Inc. raised its position in shares of Apartment Income REIT by 7.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,859 shares of the company’s stock worth $581,000 after purchasing an additional 784 shares during the period. Natixis Advisors L.P. raised its position in shares of Apartment Income REIT by 39.1% during the 1st quarter. Natixis Advisors L.P. now owns 15,307 shares of the company’s stock worth $818,000 after purchasing an additional 4,306 shares during the period. Allianz Asset Management GmbH grew its holdings in Apartment Income REIT by 11.2% in the 1st quarter. Allianz Asset Management GmbH now owns 329,852 shares of the company’s stock worth $17,634,000 after buying an additional 33,198 shares in the last quarter. Vanguard Group Inc. grew its holdings in Apartment Income REIT by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock worth $1,224,933,000 after buying an additional 119,016 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in Apartment Income REIT by 0.7% in the 1st quarter. Cibc World Markets Corp now owns 79,022 shares of the company’s stock worth $4,225,000 after buying an additional 543 shares in the last quarter. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Apartment Income REIT Price Performance

AIRC stock opened at $32.47 on Tuesday. The stock has a 50-day moving average price of $31.92 and a two-hundred day moving average price of $31.92. Apartment Income REIT has a 12-month low of $28.22 and a 12-month high of $37.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. The company has a market cap of $4.70 billion, a PE ratio of 7.67 and a beta of 0.89.

Apartment Income REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s payout ratio is currently 42.55%.

Apartment Income REIT Company Profile

Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 76 communities totaling 27,010 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.