Apartment Income REIT Corp. (NYSE:AIRC) Position Cut by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,826 shares of the company’s stock after selling 3,121 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Apartment Income REIT were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its stake in Apartment Income REIT by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock valued at $2,006,000 after purchasing an additional 330 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Apartment Income REIT by 66.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Apartment Income REIT by 2.5% during the 3rd quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock valued at $465,000 after purchasing an additional 374 shares in the last quarter. Arizona State Retirement System boosted its stake in Apartment Income REIT by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 42,482 shares of the company’s stock valued at $1,304,000 after purchasing an additional 602 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Apartment Income REIT by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 17,567 shares of the company’s stock valued at $539,000 after purchasing an additional 728 shares in the last quarter. 98.13% of the stock is owned by institutional investors.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of Apartment Income REIT stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased 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 $630,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Apartment Income REIT Price Performance

AIRC opened at $38.41 on Tuesday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. Apartment Income REIT Corp. has a 1 year low of $28.22 and a 1 year high of $38.68. 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 stock has a fifty day moving average price of $32.96 and a 200 day moving average price of $32.48.

Apartment Income REIT Announces Dividend

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

Analysts Set New Price Targets

AIRC has been the subject of a number of recent research reports. Truist Financial cut their price objective 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 price objective on shares of Apartment Income REIT in a research report on Thursday, February 22nd. 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 target price for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.59.

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.