Apartment Income REIT (NYSE:AIRC) Sees Strong Trading Volume

Apartment Income REIT Corp. (NYSE:AIRC) shares saw unusually-strong trading volume on Tuesday . Approximately 6,533,318 shares were traded during mid-day trading, an increase of 204% from the previous session’s volume of 2,148,910 shares.The stock last traded at $38.31 and had previously closed at $38.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AIRC shares. Wedbush reaffirmed a “neutral” rating and set a $39.00 price target (up from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Truist Financial dropped their price objective on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Finally, Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.59.

Apartment Income REIT Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $5.56 billion, a P/E ratio of 9.08 and a beta of 0.90. The firm’s fifty day simple moving average is $32.57 and its 200 day simple moving average is $32.29.

Apartment Income REIT Announces Dividend

The business 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 was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio is 42.55%.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian bought 889 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was purchased at an average cost 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 of the company’s stock, valued at $630,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apartment Income REIT

Large investors have recently modified their holdings of the business. Treasurer of the State of North Carolina increased its holdings in Apartment Income REIT by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock valued at $2,006,000 after purchasing an additional 330 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 during the period. Franklin Resources Inc. boosted its holdings in Apartment Income REIT by 5.2% in the second quarter. Franklin Resources Inc. now owns 7,288 shares of the company’s stock valued at $263,000 after acquiring an additional 357 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Apartment Income REIT by 4.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,837 shares of the company’s stock valued at $269,000 after acquiring an additional 363 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Apartment Income REIT by 4.8% during the 3rd quarter. Lazard Asset Management LLC now owns 7,962 shares of the company’s stock valued at $244,000 after purchasing an additional 368 shares during the period. Institutional investors own 98.13% of the company’s stock.

About Apartment Income REIT

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.