Apartment Income REIT Corp. (NYSE:AIRC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Apartment Income REIT Corp. (NYSE:AIRC) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $36.59.

Several analysts have weighed in on AIRC shares. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Wedbush reiterated a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Truist Financial dropped their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a research note on Thursday, February 22nd.

Insider Activity

In other Apartment Income REIT news, Director Thomas N. Bohjalian purchased 889 shares of Apartment Income REIT stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $630,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Apartment Income REIT

Large investors have recently bought and sold shares of the business. Belpointe Asset Management LLC raised its holdings in Apartment Income REIT by 356.7% in the 1st quarter. Belpointe Asset Management LLC now owns 813 shares of the company’s stock worth $29,000 after purchasing an additional 635 shares during the period. Quent Capital LLC raised its holdings in Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares during the period. Signaturefd LLC purchased a new stake in Apartment Income REIT during the 4th quarter worth approximately $37,000. Finally, CWM LLC increased its stake in Apartment Income REIT by 64.2% during the 4th quarter. CWM LLC now owns 1,281 shares of the company’s stock worth $44,000 after buying an additional 501 shares in the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

Apartment Income REIT Stock Down 0.1 %

Apartment Income REIT stock opened at $38.37 on Friday. 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 business’s 50-day simple moving average is $32.83 and its two-hundred day simple moving average is $32.39. The company has a market cap of $5.56 billion, a PE ratio of 9.07 and a beta of 0.90. Apartment Income REIT has a fifty-two week low of $28.22 and a fifty-two week high of $38.68.

Apartment Income REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were issued a $0.45 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. Apartment Income REIT’s dividend payout ratio (DPR) is presently 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.