abrdn plc Sells 4,067 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

abrdn plc lessened its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,492 shares of the company’s stock after selling 4,067 shares during the period. abrdn plc’s holdings in Apartment Income REIT were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings 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 worth $27,000 after acquiring an additional 353 shares during the period. Quent Capital LLC increased its stake in shares of Apartment Income REIT by 437.5% in the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after buying an additional 700 shares during the period. Denali Advisors LLC grew its holdings in Apartment Income REIT by 926.2% during 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 last quarter. Perigon Wealth Management LLC acquired a new position in shares of Apartment Income REIT during the third quarter worth $257,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Apartment Income REIT by 42.5% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,822 shares of the company’s stock worth $302,000 after purchasing an additional 2,929 shares during the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

Apartment Income REIT Price Performance

AIRC opened at $38.41 on Tuesday. 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 debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day moving average is $33.64 and its 200 day moving average is $32.74. The firm has a market capitalization of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Announces Dividend

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

Insider Activity at Apartment Income REIT

In related news, Director Thomas N. Bohjalian acquired 889 shares of the stock in a transaction 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 transaction, the director now owns 20,000 shares in the company, valued at approximately $630,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial cut their price target on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research 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. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $39.12 price target (up previously from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Eight research 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 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.