AE Wealth Management LLC increased its holdings in shares of Apartment Income REIT Corp. (NYSE:AIRC – Free Report) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,772 shares of the company’s stock after buying an additional 830 shares during the quarter. AE Wealth Management LLC’s holdings in Apartment Income REIT were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Pensionfund DSM Netherlands lifted its position in Apartment Income REIT by 6.5% during the second quarter. Pensionfund DSM Netherlands now owns 49,422 shares of the company’s stock worth $1,784,000 after buying an additional 3,000 shares during the period. Aurora Investment Counsel lifted its position in Apartment Income REIT by 1.8% during the first quarter. Aurora Investment Counsel now owns 24,933 shares of the company’s stock worth $893,000 after buying an additional 444 shares during the period. Prelude Capital Management LLC purchased a new position in Apartment Income REIT during the first quarter worth about $328,000. JPMorgan Chase & Co. raised its stake in Apartment Income REIT by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 6,809,240 shares of the company’s stock worth $243,838,000 after purchasing an additional 850,026 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Apartment Income REIT by 81.8% during the first quarter. Thrivent Financial for Lutherans now owns 178,490 shares of the company’s stock worth $6,392,000 after purchasing an additional 80,301 shares during the period. 98.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on AIRC. JPMorgan Chase & Co. cut 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. BMO Capital Markets raised shares of Apartment Income REIT from a “market perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $42.00 in a research note on Tuesday, July 18th. Mizuho dropped their target price on Apartment Income REIT from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday. 92 Resources reiterated a “reiterates” rating on shares of Apartment Income REIT in a report on Wednesday, June 28th. Finally, Truist Financial upgraded Apartment Income REIT from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Monday, August 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.13.
Apartment Income REIT Price Performance
AIRC stock opened at $30.65 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 1.52. Apartment Income REIT Corp. has a 52-week low of $30.18 and a 52-week high of $40.28. The stock’s 50 day moving average is $33.43 and its two-hundred day moving average is $34.81. The company has a market capitalization of $4.57 billion, a PE ratio of 14.67 and a beta of 0.86.
Apartment Income REIT Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Friday, August 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Thursday, August 17th. Apartment Income REIT’s payout ratio is currently 86.12%.
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 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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