Presima Inc. grew its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,530 shares of the company’s stock after buying an additional 900 shares during the quarter. Presima Inc.’s holdings in Apartment Income REIT were worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of the business. Cohen & Steers Inc. raised its position in shares of Apartment Income REIT by 8.3% during the 3rd quarter. Cohen & Steers Inc. now owns 26,851,923 shares of the company’s stock valued at $1,310,743,000 after purchasing an additional 2,064,781 shares during the period. Daiwa Securities Group Inc. lifted its position in Apartment Income REIT by 12.1% during the third quarter. Daiwa Securities Group Inc. now owns 4,307,920 shares of the company’s stock valued at $210,269,000 after purchasing an additional 463,517 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Apartment Income REIT by 20.6% in the 3rd quarter. Deutsche Bank AG now owns 3,480,652 shares of the company’s stock worth $169,891,000 after buying an additional 594,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apartment Income REIT by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,833,051 shares of the company’s stock worth $138,281,000 after buying an additional 232,237 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Apartment Income REIT by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,418,600 shares of the company’s stock valued at $118,055,000 after buying an additional 34,524 shares in the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.
In other Apartment Income REIT news, insider Keith M. Kimmel sold 11,000 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $52.91, for a total transaction of $582,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Terry Considine sold 31,052 shares of Apartment Income REIT stock in a transaction that occurred on Monday, December 27th. The stock was sold at an average price of $53.38, for a total transaction of $1,657,555.76. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,258 shares of company stock valued at $170,544 and sold 58,052 shares valued at $3,076,206. 1.06% of the stock is owned by corporate insiders.
AIRC stock traded up $0.52 during trading on Thursday, hitting $52.40. The company had a trading volume of 382,309 shares, compared to its average volume of 803,862. The firm has a market capitalization of $8.23 billion, a P/E ratio of 18.08 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.93. Apartment Income REIT Corp. has a 52-week low of $41.90 and a 52-week high of $55.53. The company has a 50 day simple moving average of $52.38 and a 200-day simple moving average of $52.16.
The company also recently declared a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Thursday, February 17th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, February 16th. This represents a $1.80 annualized dividend and a dividend yield of 3.44%. This is a positive change from Apartment Income REIT’s previous quarterly dividend of $0.44. Apartment Income REIT’s dividend payout ratio (DPR) is currently 62.72%.
A number of equities research analysts have issued reports on the company. Jefferies Financial Group upgraded Apartment Income REIT from a “hold” rating to a “buy” rating and upped their price objective for the company from $52.00 to $63.00 in a research report on Monday, January 10th. Citigroup upgraded Apartment Income REIT from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $60.00 in a report on Tuesday, December 14th. Zacks Investment Research cut shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial raised their target price on shares of Apartment Income REIT from $56.00 to $59.00 in a report on Tuesday, January 18th. Finally, Mizuho cut their price target on shares of Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.33.
About Apartment Income REIT (Get Rating)
AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country’s largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.
Further Reading
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