Apartment Income REIT (NYSE:AIRC) Given Peer Perform Rating at Wolfe Research

Wolfe Research reissued their peer perform rating on shares of Apartment Income REIT (NYSE:AIRCFree Report) in a research note published on Thursday, Benzinga reports.

Several other brokerages have also issued reports on AIRC. BMO Capital Markets restated 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. Janney Montgomery Scott restated a neutral rating on shares of Apartment Income REIT in a research note on Monday, April 8th. 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. The Goldman Sachs Group reissued a neutral rating and set a $34.00 price target on shares of Apartment Income REIT in a report on Thursday, February 22nd. Finally, Raymond James downgraded 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 assigned a buy rating to the company. According to data from MarketBeat.com, Apartment Income REIT has a consensus rating of Hold and an average target price of $36.59.

Read Our Latest Analysis on AIRC

Apartment Income REIT Trading Down 0.2 %

Apartment Income REIT stock opened at $38.36 on Thursday. Apartment Income REIT has a 52-week low of $28.22 and a 52-week high of $38.68. The company has a market cap of $5.56 billion, a P/E ratio of 9.07 and a beta of 0.90. 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 business has a 50-day simple moving average of $32.21 and a two-hundred day simple moving average of $32.13.

Apartment Income REIT Dividend Announcement

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

Insider Buying and Selling

In other Apartment Income REIT news, Director Thomas N. Bohjalian bought 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $630,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Apartment Income REIT

Hedge funds have recently modified their holdings of the company. West Coast Financial LLC lifted its position in Apartment Income REIT by 1.4% during the first quarter. West Coast Financial LLC now owns 86,326 shares of the company’s stock valued at $2,803,000 after acquiring an additional 1,154 shares during the last quarter. Aurora Investment Managers LLC. grew its holdings in Apartment Income REIT by 23.8% in the first quarter. Aurora Investment Managers LLC. now owns 88,419 shares of the company’s stock worth $2,871,000 after purchasing an additional 16,979 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Apartment Income REIT during the first quarter worth $797,000. Pensionfund Sabic lifted its holdings in shares of Apartment Income REIT by 28.7% during the 1st quarter. Pensionfund Sabic now owns 31,357 shares of the company’s stock valued at $1,018,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Pensionfund DSM Netherlands boosted its position in shares of Apartment Income REIT by 12.5% in the 1st quarter. Pensionfund DSM Netherlands now owns 62,922 shares of the company’s stock worth $2,043,000 after purchasing an additional 7,000 shares in the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

About Apartment Income REIT

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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.

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