Ameritas Investment Partners Inc. Trims Stock Position in Apartment Income REIT Corp. (NYSE:AIRC)

Ameritas Investment Partners Inc. lowered its position in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,861 shares of the company’s stock after selling 595 shares during the period. Ameritas Investment Partners Inc.’s holdings in Apartment Income REIT were worth $1,035,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AIRC. Raymond James & Associates grew its stake in Apartment Income REIT by 70.6% during the fourth quarter. Raymond James & Associates now owns 19,912 shares of the company’s stock valued at $692,000 after acquiring an additional 8,241 shares in the last quarter. Pacer Advisors Inc. grew its stake in Apartment Income REIT by 136.3% during the fourth quarter. Pacer Advisors Inc. now owns 29,481 shares of the company’s stock valued at $1,024,000 after acquiring an additional 17,006 shares in the last quarter. Values First Advisors Inc. bought a new stake in Apartment Income REIT during the fourth quarter valued at approximately $528,000. Manning & Napier Group LLC lifted its position in Apartment Income REIT by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock valued at $3,205,000 after purchasing an additional 463 shares during the last quarter. Finally, Quent Capital LLC lifted its position in Apartment Income REIT by 437.5% during the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Stock Performance

Shares of AIRC remained flat at $39.08 during mid-day trading on Tuesday. The firm has a market cap of $5.67 billion, a PE ratio of 9.17 and a beta of 0.77. The company has a current ratio of 0.63, a quick 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 $39.10. The stock’s 50-day moving average is $38.90 and its two-hundred day moving average is $35.78.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIRC. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 target price (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Truist Financial dropped 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 research report on Tuesday, April 9th. Wedbush reiterated a “neutral” rating and set a $39.00 target price (up from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Finally, Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT 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.