Apartment Income REIT (NYSE:AIRC) Sets New 12-Month High at $38.68

Shares of Apartment Income REIT Corp. (NYSE:AIRC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.68 and last traded at $38.66, with a volume of 347861 shares changing hands. The stock had previously closed at $38.59.

Analyst Ratings Changes

A number of brokerages recently commented on AIRC. Raymond James cut Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $39.12 price target (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Wolfe Research reiterated a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $34.00 target price on shares of Apartment Income REIT in a report on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Price Performance

The company has a market capitalization of $5.60 billion, a P/E ratio of 9.13 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. The company’s fifty day moving average price is $34.71 and its 200 day moving average price is $33.08.

Insider Buying and Selling at Apartment Income REIT

In other news, Director Thomas N. Bohjalian purchased 889 shares of Apartment Income REIT stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average price of $31.50 per share, for a total transaction of $28,003.50. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Apartment Income REIT

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Apartment Income REIT by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock valued at $56,215,000 after buying an additional 93,029 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Apartment Income REIT by 6.1% during the third quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock valued at $6,127,000 after acquiring an additional 11,465 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Apartment Income REIT by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,260 shares of the company’s stock valued at $2,157,000 after acquiring an additional 3,201 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apartment Income REIT by 87.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock valued at $40,637,000 after acquiring an additional 618,134 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Apartment Income REIT during the third quarter valued at $257,000. Institutional investors and hedge funds own 98.13% of the company’s stock.

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.