UBS Asset Management Americas Inc. Sells 94,898 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Posted by Defense World Staff on Mar 14th, 2023

UBS Asset Management Americas Inc. lowered its position in Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 814,155 shares of the company’s stock after selling 94,898 shares during the period. UBS Asset Management Americas Inc. owned about 0.54% of Apartment Income REIT worth $31,443,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in Apartment Income REIT during the second quarter valued at $32,000. Ellevest Inc. lifted its position in Apartment Income REIT by 275.0% during the third quarter. Ellevest Inc. now owns 975 shares of the company’s stock valued at $38,000 after purchasing an additional 715 shares in the last quarter. Private Trust Co. NA purchased a new position in Apartment Income REIT during the second quarter valued at $42,000. Bessemer Group Inc. lifted its position in Apartment Income REIT by 42.9% during the third quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock valued at $47,000 after purchasing an additional 366 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in Apartment Income REIT during the third quarter valued at $48,000. Institutional investors own 99.35% of the company’s stock.

Apartment Income REIT Price Performance

NYSE:AIRC opened at $35.44 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $5.28 billion, a P/E ratio of 6.08 and a beta of 0.93. Apartment Income REIT Corp. has a 12 month low of $33.57 and a 12 month high of $55.82. The business’s 50-day moving average is $37.42 and its 200 day moving average is $37.64.

Apartment Income REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 17th were given a $0.45 dividend. The ex-dividend date was Thursday, February 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.08%. Apartment Income REIT’s dividend payout ratio is currently 30.87%.

Analyst Upgrades and Downgrades

AIRC has been the topic of several analyst reports. The Goldman Sachs Group upgraded Apartment Income REIT from a “sell” rating to a “buy” rating and lifted their target price for the company from $39.00 to $43.00 in a research report on Thursday, December 8th. Wolfe Research started coverage on Apartment Income REIT in a research report on Monday, January 23rd. They set an “outperform” rating and a $39.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on Apartment Income REIT to $42.00 in a research report on Thursday, December 1st. Citigroup lowered their price objective on Apartment Income REIT from $47.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, November 29th. Finally, Mizuho boosted their price objective on Apartment Income REIT from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.78.

Apartment Income REIT Company Profile

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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.

Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

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