Nisa Investment Advisors LLC lowered its position in Apartment Income REIT Corp. (NYSE:AIRC) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,502 shares of the company’s stock after selling 9,136 shares during the period. Nisa Investment Advisors LLC owned approximately 0.07% of Apartment Income REIT worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AIRC. BlackRock Inc. bought a new stake in Apartment Income REIT in the fourth quarter worth about $645,051,000. Principal Financial Group Inc. purchased a new position in shares of Apartment Income REIT during the fourth quarter worth approximately $300,159,000. JPMorgan Chase & Co. purchased a new position in shares of Apartment Income REIT during the fourth quarter worth approximately $223,206,000. Long Pond Capital LP purchased a new position in shares of Apartment Income REIT during the fourth quarter worth approximately $186,139,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Apartment Income REIT during the fourth quarter worth approximately $163,611,000.
In related news, insider Keith M. Kimmel sold 17,000 shares of the business’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $41.88, for a total transaction of $711,960.00. Following the completion of the transaction, the insider now directly owns 27,115 shares in the company, valued at $1,135,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Beldin sold 7,500 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief financial officer now owns 76,038 shares of the company’s stock, valued at $3,410,304.30. The disclosure for this sale can be found here.
Apartment Income REIT (NYSE:AIRC) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. Sell-side analysts anticipate that Apartment Income REIT Corp. will post 2.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Friday, May 14th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, May 13th. This represents a $1.72 annualized dividend and a dividend yield of 3.86%.
AIRC has been the topic of a number of research reports. Janney Montgomery Scott initiated coverage on shares of Apartment Income REIT in a research report on Wednesday, January 6th. They set a “buy” rating and a $40.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Apartment Income REIT in a research report on Tuesday, January 12th. They set a “hold” rating and a $35.00 target price on the stock. Guggenheim initiated coverage on shares of Apartment Income REIT in a report on Friday, January 29th. They set a “buy” rating and a $63.00 price objective on the stock. Truist lowered shares of Apartment Income REIT from a “buy” rating to a “hold” rating and lifted their price objective for the company from $40.00 to $41.00 in a report on Friday, January 22nd. Finally, Zelman & Associates raised shares of Apartment Income REIT from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.89.
About Apartment Income REIT
AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country's largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.
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