Dimensional Fund Advisors LP Sells 96,634 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Dimensional Fund Advisors LP decreased its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,172,079 shares of the company’s stock after selling 96,634 shares during the period. Dimensional Fund Advisors LP’s holdings in Apartment Income REIT were worth $75,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIRC. California Public Employees Retirement System lifted its position in Apartment Income REIT by 3.5% during the third quarter. California Public Employees Retirement System now owns 263,764 shares of the company’s stock valued at $8,098,000 after purchasing an additional 9,032 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Apartment Income REIT by 2.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 172,106 shares of the company’s stock valued at $5,284,000 after purchasing an additional 3,610 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Apartment Income REIT by 66.7% during the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares during the last quarter. Victory Capital Management Inc. lifted its position in Apartment Income REIT by 2.7% during the third quarter. Victory Capital Management Inc. now owns 755,277 shares of the company’s stock valued at $23,187,000 after purchasing an additional 19,748 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Apartment Income REIT during the third quarter valued at $328,000. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Stock Up 0.1 %

Shares of Apartment Income REIT stock opened at $38.70 on Friday. The firm’s 50 day moving average price is $36.45 and its 200-day moving average price is $33.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.20. Apartment Income REIT Corp. has a 52-week low of $28.22 and a 52-week high of $38.84. The company has a market cap of $5.62 billion, a P/E ratio of 9.08 and a beta of 0.78.

Analyst Ratings Changes

Several research firms have recently issued reports on AIRC. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 target price on shares of Apartment Income REIT in a report on Thursday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Finally, Truist Financial decreased their price objective on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.59.

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.