Pictet Asset Management SA trimmed its position in shares of Apartment Income REIT Corp. (NYSE:AIRC – Free Report) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,381 shares of the company’s stock after selling 22,388 shares during the period. Pictet Asset Management SA’s holdings in Apartment Income REIT were worth $1,553,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Apartment Income REIT by 10.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,374 shares of the company’s stock valued at $837,000 after buying an additional 2,274 shares during the last quarter. Aurora Investment Managers LLC. boosted its holdings in Apartment Income REIT by 1.8% in the first quarter. Aurora Investment Managers LLC. now owns 59,386 shares of the company’s stock worth $2,127,000 after purchasing an additional 1,061 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Apartment Income REIT by 5.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,589 shares of the company’s stock worth $379,000 after purchasing an additional 571 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its holdings in Apartment Income REIT by 12.2% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 11,963 shares of the company’s stock worth $410,000 after purchasing an additional 1,300 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Apartment Income REIT in the fourth quarter worth approximately $1,571,000. 98.10% of the stock is owned by institutional investors.
Apartment Income REIT Stock Up 0.5 %
Shares of AIRC stock opened at $33.49 on Friday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 16.02 and a beta of 0.87. Apartment Income REIT Corp. has a one year low of $32.51 and a one year high of $43.83. The company’s fifty day moving average price is $35.03 and its 200-day moving average price is $35.78. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.15 and a quick ratio of 0.15.
Apartment Income REIT Dividend Announcement
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on AIRC shares. Mizuho dropped their target price on shares of Apartment Income REIT from $45.00 to $40.00 in a report on Friday, May 19th. 92 Resources restated a “reiterates” rating on shares of Apartment Income REIT in a report on Wednesday, June 28th. BMO Capital Markets upgraded shares of Apartment Income REIT from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $39.00 to $42.00 in a research note on Tuesday, July 18th. JPMorgan Chase & Co. dropped their price target on shares of Apartment Income REIT from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, August 21st. Finally, Truist Financial lifted their price target on shares of Apartment Income REIT from $39.00 to $41.00 in a research note on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.63.
Read Our Latest Report on AIRC
Apartment Income REIT Profile
Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 73 communities totaling 25,739 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.
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