Apartment Income REIT (NYSE:AIRC) Sees Large Volume Increase

Apartment Income REIT Corp. (NYSE:AIRC) saw unusually-strong trading volume on Tuesday . Approximately 6,533,318 shares were traded during trading, an increase of 204% from the previous session’s volume of 2,148,910 shares.The stock last traded at $38.31 and had previously closed at $38.32.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AIRC shares. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Mizuho cut Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. Wedbush restated a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. BMO Capital Markets reissued a “market perform” rating and set a $39.12 price target (up from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.59.

Apartment Income REIT Price Performance

The firm has a fifty day moving average of $32.57 and a 200 day moving average of $32.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $5.56 billion, a P/E ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

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

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $31.50 per share, with a total value of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $630,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Apartment Income REIT

Several institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after buying an additional 353 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of Apartment Income REIT by 356.7% during the first quarter. Belpointe Asset Management LLC now owns 813 shares of the company’s stock worth $29,000 after purchasing an additional 635 shares in the last quarter. Quent Capital LLC raised its stake in Apartment Income REIT by 437.5% during the 4th 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 period. Signaturefd LLC purchased a new position in Apartment Income REIT in the 4th quarter worth approximately $37,000. Finally, CWM LLC boosted its stake 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 purchasing an additional 501 shares during the period. 98.13% of the stock is currently owned by institutional investors.

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.