Apartment Income REIT (NYSE:AIRC) Sees Strong Trading Volume

Apartment Income REIT Corp. (NYSE:AIRC) shares saw unusually-high trading volume on Tuesday . Approximately 3,072,356 shares traded hands during trading, an increase of 37% from the previous session’s volume of 2,244,660 shares.The stock last traded at $38.42 and had previously closed at $38.40.

Analysts Set New Price Targets

AIRC has been the topic of a number of research analyst reports. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. BMO Capital Markets restated a “market perform” rating and set a $39.12 target price (up from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.59.

Apartment Income REIT Price Performance

The stock has a market capitalization of $5.57 billion, a PE ratio of 9.08 and a beta of 0.90. The company’s 50 day simple moving average is $32.96 and its 200 day simple moving average is $32.48. 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 Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, February 15th. This represents a $1.80 annualized dividend and a yield of 4.68%. Apartment Income REIT’s dividend payout ratio (DPR) is 42.55%.

Insider Activity

In other news, Director Thomas N. Bohjalian bought 889 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of Apartment Income REIT

A number of institutional investors have recently made changes to their positions in the business. Amalgamated Bank grew its stake in Apartment Income REIT by 7.2% during the first quarter. Amalgamated Bank now owns 98,632 shares of the company’s stock worth $3,203,000 after buying an additional 6,624 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Apartment Income REIT by 7.0% during the first quarter. Fifth Third Bancorp now owns 7,272 shares of the company’s stock valued at $236,000 after buying an additional 475 shares during the period. West Coast Financial LLC grew its holdings in shares of Apartment Income REIT by 1.4% during the first quarter. West Coast Financial LLC now owns 86,326 shares of the company’s stock worth $2,803,000 after purchasing an additional 1,154 shares in the last quarter. Aurora Investment Managers LLC. boosted its position in Apartment Income REIT by 23.8% during the 1st quarter. Aurora Investment Managers LLC. now owns 88,419 shares of the company’s stock valued at $2,871,000 after buying an additional 16,979 shares during the period. Finally, Perpetual Ltd bought a new position in Apartment Income REIT in the 1st quarter worth $797,000. Institutional investors own 98.13% of the company’s stock.

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.