117,240 Shares in Apartment Income REIT Corp. (NYSE:AIRC) Bought by Aew Capital Management L P

Aew Capital Management L P purchased a new position in Apartment Income REIT Corp. (NYSE:AIRC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,240 shares of the company’s stock, valued at approximately $4,072,000. Aew Capital Management L P owned 0.08% of Apartment Income REIT as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Apartment Income REIT by 66.7% in the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares in the last quarter. Quent Capital LLC boosted its holdings in Apartment Income REIT by 437.5% in the fourth quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after acquiring an additional 700 shares in the last quarter. Signaturefd LLC bought a new stake in Apartment Income REIT in the fourth quarter worth $37,000. CWM LLC boosted its holdings in Apartment Income REIT by 64.2% in the fourth quarter. CWM LLC now owns 1,281 shares of the company’s stock worth $44,000 after acquiring an additional 501 shares in the last quarter. Finally, Denali Advisors LLC boosted its holdings in Apartment Income REIT by 926.2% in the fourth quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock worth $79,000 after acquiring an additional 2,047 shares in the last quarter. 98.13% of the stock is owned by institutional investors.

Apartment Income REIT Stock Performance

Apartment Income REIT stock traded down $0.04 during mid-day trading on Friday, reaching $38.42. 3,177,505 shares of the stock traded hands, compared to its average volume of 2,315,473. The stock has a market capitalization of $5.57 billion, a PE ratio of 9.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.65. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68. The business’s 50-day moving average is $33.51 and its 200-day moving average is $32.67.

Apartment Income REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AIRC shares. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Truist Financial lowered their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Finally, Wedbush reaffirmed a “neutral” rating and set a $39.00 price target (up from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.59.

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of Apartment Income REIT stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $630,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

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 76 communities totaling 27,010 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.