Apartment Income REIT Corp. (NYSE:AIRC) Receives $36.59 Average Price Target from Brokerages

Shares of Apartment Income REIT Corp. (NYSE:AIRCGet Free Report) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $36.59.

A number of analysts have recently issued reports on the company. Truist Financial dropped their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wolfe Research reiterated a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 price target (up previously from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th.

Read Our Latest Stock Analysis on Apartment Income REIT

Apartment Income REIT Stock Performance

Shares of AIRC opened at $39.08 on Thursday. The company has a market cap of $5.67 billion, a PE ratio of 9.17 and a beta of 0.77. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $38.82 and a 200-day moving average price of $35.52. Apartment Income REIT has a 12-month low of $28.22 and a 12-month high of $39.10.

Institutional Trading of Apartment Income REIT

A number of hedge funds have recently bought and sold shares of AIRC. Norges Bank purchased a new position in Apartment Income REIT in the 4th quarter worth approximately $59,835,000. JPMorgan Chase & Co. increased its stake in Apartment Income REIT by 12.2% in the 3rd 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 period. Massachusetts Financial Services Co. MA purchased a new position in Apartment Income REIT in the 4th quarter worth approximately $29,571,000. Long Pond Capital LP increased its stake in Apartment Income REIT by 42.9% in the 1st quarter. Long Pond Capital LP now owns 2,027,211 shares of the company’s stock worth $65,824,000 after purchasing an additional 608,627 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its stake in Apartment Income REIT by 23.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,924,644 shares of the company’s stock worth $66,843,000 after purchasing an additional 369,600 shares during the period. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Company Profile

(Get Free Report

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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Analyst Recommendations for Apartment Income REIT (NYSE:AIRC)

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