Duff & Phelps Investment Management Co. Grows Stock Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Duff & Phelps Investment Management Co. lifted its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,443,819 shares of the company’s stock after buying an additional 93,750 shares during the period. Duff & Phelps Investment Management Co. owned approximately 1.66% of Apartment Income REIT worth $84,874,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Apartment Income REIT by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock valued at $56,215,000 after purchasing an additional 93,029 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Apartment Income REIT by 6.1% in the third quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock worth $6,127,000 after acquiring an additional 11,465 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Apartment Income REIT by 4.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,260 shares of the company’s stock valued at $2,157,000 after buying an additional 3,201 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Apartment Income REIT by 87.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock worth $40,637,000 after purchasing an additional 618,134 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in Apartment Income REIT during the 3rd quarter worth approximately $257,000. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Insider Transactions at Apartment Income REIT

In related news, Director Thomas N. Bohjalian bought 889 shares of Apartment Income REIT stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $630,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AIRC. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. BMO Capital Markets restated a “market perform” rating and set a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Wedbush reissued a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Finally, Raymond James downgraded shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Apartment Income REIT has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Trading Up 0.0 %

NYSE AIRC traded up $0.01 during trading on Tuesday, reaching $38.41. 963,888 shares of the stock traded hands, compared to its average volume of 2,339,226. 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 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 9.09 and a beta of 0.90. The stock’s 50-day moving average price is $33.64 and its 200 day moving average price is $32.74.

Apartment Income REIT Announces Dividend

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

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.