HGI Capital Management LLC Sells 21,332 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

HGI Capital Management LLC lessened its holdings in Apartment Income REIT Corp. (NYSE:AIRCFree Report) by 74.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,340 shares of the company’s stock after selling 21,332 shares during the quarter. HGI Capital Management LLC’s holdings in Apartment Income REIT were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. State of Tennessee Treasury Department boosted its stake in shares of Apartment Income REIT by 28.0% in the 4th quarter. State of Tennessee Treasury Department now owns 373,845 shares of the company’s stock valued at $12,984,000 after purchasing an additional 81,676 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Apartment Income REIT by 15.2% in the 4th quarter. Verition Fund Management LLC now owns 400,307 shares of the company’s stock valued at $13,903,000 after purchasing an additional 52,689 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Apartment Income REIT in the 4th quarter valued at about $4,437,000. Centersquare Investment Management LLC raised its position in shares of Apartment Income REIT by 84.2% in the 4th quarter. Centersquare Investment Management LLC now owns 113,628 shares of the company’s stock valued at $3,946,000 after acquiring an additional 51,939 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its position in shares of Apartment Income REIT by 23.8% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,924,644 shares of the company’s stock valued at $66,843,000 after acquiring an additional 369,600 shares during the period. Institutional investors own 98.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Wedbush reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and cut their price target for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.59.

Check Out Our Latest Stock Report on Apartment Income REIT

Apartment Income REIT Stock Performance

AIRC remained flat at $38.73 during trading on Friday. 2,519,962 shares of the company were exchanged, compared to its average volume of 3,215,274. The company has a market cap of $5.62 billion, a PE ratio of 9.09 and a beta of 0.77. Apartment Income REIT Corp. has a fifty-two week low of $28.22 and a fifty-two week high of $38.84. The business’s fifty day moving average price is $37.85 and its 200 day moving average price is $34.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.63 and a current ratio of 0.63.

Apartment Income REIT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

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