SG Americas Securities LLC Increases Stock Position in Apartment Income REIT Corp. (NYSE:AIRC)

Posted by Defense World Staff on Jul 22nd, 2023

SG Americas Securities LLC boosted its stake in Apartment Income REIT Corp. (NYSE:AIRC – Free Report) by 37.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,130 shares of the company’s stock after acquiring an additional 17,469 shares during the period. SG Americas Securities LLC’s holdings in Apartment Income REIT were worth $2,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Apartment Income REIT in the 4th quarter valued at about $53,319,000. Bank of America Corp DE raised its stake in shares of Apartment Income REIT by 308.3% during the fourth quarter. Bank of America Corp DE now owns 2,007,780 shares of the company’s stock worth $68,887,000 after purchasing an additional 1,516,084 shares during the last quarter. State Street Corp raised its stake in shares of Apartment Income REIT by 13.8% during the first quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after purchasing an additional 1,041,150 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Apartment Income REIT by 130.6% during the first quarter. Invesco Ltd. now owns 982,220 shares of the company’s stock worth $52,509,000 after purchasing an additional 556,256 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Apartment Income REIT by 19.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,871,369 shares of the company’s stock valued at $100,044,000 after buying an additional 309,508 shares during the last quarter. Hedge funds and other institutional investors own 98.10% of the company’s stock.

Analyst Ratings Changes

AIRC has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Apartment Income REIT from $39.00 to $41.00 in a research note on Friday, July 7th. 92 Resources reissued a “reiterates” rating on shares of Apartment Income REIT in a research note on Wednesday, June 28th. Mizuho cut their target price on Apartment Income REIT from $45.00 to $40.00 in a research note on Friday, May 19th. Finally, BMO Capital Markets upgraded shares of Apartment Income REIT from a “market perform” rating to an “outperform” rating and increased their price target for the company from $39.00 to $42.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Apartment Income REIT Trading Up 0.7 %

Shares of Apartment Income REIT stock opened at $36.50 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.13 and a quick ratio of 0.13. Apartment Income REIT Corp. has a 1 year low of $32.51 and a 1 year high of $46.38. The company has a market capitalization of $5.45 billion, a P/E ratio of 10.86 and a beta of 0.89. The business has a 50 day moving average price of $35.76 and a 200 day moving average price of $36.20.

Apartment Income REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Friday, May 19th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 18th. This represents a $1.80 annualized dividend and a dividend yield of 4.93%. Apartment Income REIT’s dividend payout ratio is currently 53.57%.

Apartment Income REIT Profile

(Free Report)

Apartment Income REIT Corp (AIR Communities) (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 75 communities totaling 25,797 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.