DekaBank Deutsche Girozentrale Sells 61,715 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale reduced its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) by 49.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,487 shares of the company’s stock after selling 61,715 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Apartment Income REIT were worth $2,141,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Apartment Income REIT by 2.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,569 shares of the company’s stock worth $524,000 after purchasing an additional 292 shares in the last quarter. Bessemer Group Inc. boosted its stake in Apartment Income REIT by 42.9% in the third quarter. Bessemer Group Inc. now owns 1,219 shares of the company’s stock valued at $47,000 after buying an additional 366 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Apartment Income REIT by 2.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,594 shares of the company’s stock valued at $501,000 after buying an additional 395 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Apartment Income REIT by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 33,339 shares of the company’s stock valued at $1,782,000 after buying an additional 418 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Apartment Income REIT by 5.3% in the second quarter. LPL Financial LLC now owns 9,192 shares of the company’s stock valued at $382,000 after buying an additional 466 shares in the last quarter. 99.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIRC shares. BMO Capital Markets raised Apartment Income REIT from an “underperform” rating to a “market perform” rating and set a $39.00 price objective on the stock in a research note on Wednesday, March 15th. Wolfe Research started coverage on Apartment Income REIT in a research note on Monday, January 23rd. They issued an “outperform” rating and a $39.00 price objective on the stock. Finally, Mizuho raised their price objective on Apartment Income REIT from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.33.

Apartment Income REIT Stock Performance

Shares of AIRC stock opened at $35.77 on Friday. Apartment Income REIT Corp. has a 12 month low of $32.51 and a 12 month high of $55.82. 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 firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 6.14 and a beta of 0.90. The business’s 50-day moving average price is $36.41 and its 200-day moving average price is $36.57.

Apartment Income REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 17th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.03%. Apartment Income REIT’s dividend payout ratio (DPR) is 30.87%.

Insider Transactions at Apartment Income REIT

In related news, Director John D. Rayis acquired 1,000 shares of the stock in a transaction dated Friday, March 17th. The stock was bought at an average cost of $34.48 per share, for a total transaction of $34,480.00. Following the completion of the transaction, the director now directly owns 9,412 shares of the company’s stock, valued at $324,525.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Keith M. Kimmel sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $35.75, for a total transaction of $286,000.00. Following the completion of the transaction, the insider now directly owns 34,345 shares in the company, valued at $1,227,833.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Rayis bought 1,000 shares of the stock in a transaction on Friday, March 17th. The stock was acquired at an average price of $34.48 per share, with a total value of $34,480.00. Following the completion of the acquisition, the director now owns 9,412 shares of the company’s stock, valued at approximately $324,525.76. The disclosure for this purchase can be found here. 0.89% of the stock is owned by corporate insiders.

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.