Shell Asset Management Co. Sells 419 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Shell Asset Management Co. lessened its position in Apartment Income REIT Corp. (NYSE:AIRC) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,619 shares of the company’s stock after selling 419 shares during the period. Shell Asset Management Co.’s holdings in Apartment Income REIT were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after acquiring an additional 700 shares during the period. Signaturefd LLC bought a new position in Apartment Income REIT in the 4th quarter worth $37,000. CWM LLC raised its holdings in Apartment Income REIT by 64.2% in the 4th quarter. CWM LLC now owns 1,281 shares of the company’s stock worth $44,000 after acquiring an additional 501 shares during the period. Principal Securities Inc. bought a new position in Apartment Income REIT in the 4th quarter worth $48,000. Finally, Denali Advisors LLC raised its holdings in Apartment Income REIT by 926.2% in the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock worth $79,000 after acquiring an additional 2,047 shares during the period. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Price Performance

Shares of Apartment Income REIT stock opened at $39.08 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day simple moving average is $38.93 and its 200-day simple moving average is $35.89. Apartment Income REIT Corp. has a twelve month low of $28.22 and a twelve month high of $39.10. The firm has a market cap of $5.67 billion, a P/E ratio of 9.17 and a beta of 0.77.

Analyst Ratings Changes

AIRC has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $39.00 price objective (up previously from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. Truist Financial dropped their price objective on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. 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. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.