Apartment Income REIT (NYSE:AIRC) Sees Unusually-High Trading Volume

Apartment Income REIT Corp. (NYSE:AIRC) saw unusually-high trading volume on Tuesday . 3,072,356 shares traded hands during trading, an increase of 37% from the previous session’s volume of 2,244,660 shares.The stock last traded at $38.42 and had previously closed at $38.40.

Analysts Set New Price Targets

Several research firms recently issued reports on AIRC. Truist Financial reduced their target price 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. BMO Capital Markets restated a “market perform” rating and issued a $39.12 price objective (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Wedbush reissued a “neutral” rating and set a $39.00 price objective (up from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. Finally, Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. 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 company has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Stock Up 0.1 %

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. The stock’s 50 day moving average is $32.96 and its 200 day moving average is $32.48.

Apartment Income REIT Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is currently 42.55%.

Insider Activity

In other Apartment Income REIT news, Director Thomas N. Bohjalian bought 889 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $630,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Apartment Income REIT

Several institutional investors have recently modified their holdings of AIRC. Quent Capital LLC lifted its stake in Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after acquiring an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Apartment Income REIT by 66.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after acquiring an additional 353 shares during the period. Signaturefd LLC bought a new stake in shares of Apartment Income REIT during the 4th quarter valued at $37,000. CWM LLC lifted its position in shares of 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 during the last quarter. Finally, Principal Securities Inc. bought a new position in Apartment Income REIT in the fourth quarter valued at about $48,000. 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.