Cerity Partners LLC Takes $382,000 Position in Apartment Income REIT Corp. (NYSE:AIRC)

Cerity Partners LLC acquired a new stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,011 shares of the company’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Apartment Income REIT by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock worth $416,681,000 after purchasing an additional 1,470,804 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in Apartment Income REIT by 195.6% during the third quarter. Lasalle Investment Management Securities LLC now owns 1,555,044 shares of the company’s stock valued at $47,740,000 after buying an additional 1,029,054 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased 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 valued at $40,637,000 after buying an additional 618,134 shares during the last quarter. FMR LLC raised its position in Apartment Income REIT by 7.7% in the third quarter. FMR LLC now owns 5,758,309 shares of the company’s stock worth $176,780,000 after acquiring an additional 411,299 shares during the period. Finally, Walleye Capital LLC raised its position in Apartment Income REIT by 89.6% in the third quarter. Walleye Capital LLC now owns 674,518 shares of the company’s stock worth $20,708,000 after acquiring an additional 318,748 shares during the period. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Stock Down 0.1 %

Shares of AIRC opened at $38.42 on Friday. The company has a market capitalization of $5.57 billion, a PE ratio of 9.08 and a beta of 0.90. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68. The business’s 50 day moving average is $33.51 and its 200 day moving average is $32.67.

Apartment Income REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were paid a dividend of $0.45 per share. 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 payout ratio is 42.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Raymond James lowered Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. BMO Capital Markets restated a “market perform” rating and issued a $39.12 price target (up previously from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Truist Financial lowered their price objective on 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. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. Finally, Janney Montgomery Scott reaffirmed 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 stock. Based on data from MarketBeat, Apartment Income REIT presently has an average rating of “Hold” and an average price target of $36.59.

Insider Buying and Selling at Apartment Income REIT

In related news, Director Thomas N. Bohjalian acquired 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $630,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Apartment Income REIT Company 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.