Federated Hermes Inc. Grows Position in Apartment Income REIT Corp. (NYSE:AIRC)

Federated Hermes Inc. raised its position in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,963 shares of the company’s stock after acquiring an additional 1,045 shares during the period. Federated Hermes Inc.’s holdings in Apartment Income REIT were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Apartment Income REIT by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,832 shares of the company’s stock valued at $2,495,000 after buying an additional 1,572 shares in the last quarter. Strs Ohio bought a new stake in shares of Apartment Income REIT in the 4th quarter valued at approximately $6,383,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Apartment Income REIT by 23.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,629,565 shares of the company’s stock worth $56,595,000 after purchasing an additional 305,878 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Apartment Income REIT during the 4th quarter valued at approximately $764,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Apartment Income REIT during the 4th quarter valued at $1,434,000. 98.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have commented on AIRC shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 price target (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Wedbush reissued a “neutral” rating and issued a $39.00 price objective (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Finally, Truist Financial reduced their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.59.

Apartment Income REIT Stock Performance

Apartment Income REIT stock opened at $38.57 on Friday. Apartment Income REIT Corp. has a fifty-two week low of $28.22 and a fifty-two week high of $38.68. The company has a market capitalization of $5.60 billion, a PE ratio of 9.12 and a beta of 0.78. The company has a 50 day moving average price of $34.06 and a 200-day moving average price of $32.87. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65.

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.