Apartment Income REIT’s (AIRC) “Neutral” Rating Reaffirmed at Janney Montgomery Scott

Janney Montgomery Scott reaffirmed their neutral rating on shares of Apartment Income REIT (NYSE:AIRC) in a report published on Monday, Benzinga reports.

Other research analysts also recently issued research reports about the company. Mizuho downgraded Apartment Income REIT from a buy rating to a neutral rating and reduced their price objective for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. TheStreet raised Apartment Income REIT from a d+ rating to a c rating in a report on Tuesday, December 12th. Raymond James downgraded Apartment Income REIT from an outperform rating to a market perform rating in a report on Monday, March 18th. Finally, The Goldman Sachs Group reaffirmed a neutral rating and set a $34.00 price objective on shares of Apartment Income REIT in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $37.71.

Apartment Income REIT Stock Up 22.4 %

NYSE:AIRC opened at $38.36 on Monday. The stock’s fifty day moving average price is $31.76 and its two-hundred day moving average price is $31.93. Apartment Income REIT has a 52-week low of $28.22 and a 52-week high of $38.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 9.07 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio is currently 42.55%.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $630,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apartment Income REIT

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Apartment Income REIT by 2.4% during the 3rd quarter. Invesco Ltd. now owns 975,323 shares of the company’s stock worth $29,942,000 after purchasing an additional 22,830 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in Apartment Income REIT by 353.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 55,317 shares of the company’s stock worth $1,698,000 after purchasing an additional 43,107 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after purchasing an additional 330 shares in the last quarter. UBS Group AG increased its holdings in Apartment Income REIT by 2.2% during the 3rd quarter. UBS Group AG now owns 168,156 shares of the company’s stock worth $5,162,000 after purchasing an additional 3,605 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in Apartment Income REIT by 926.2% during the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock worth $79,000 after purchasing an additional 2,047 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.

About Apartment Income REIT

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.