Stevens Capital Management LP Buys New Shares in Apartment Income REIT Corp. (NYSE:AIRC)

Stevens Capital Management LP bought a new position in shares of Apartment Income REIT Corp. (NYSE:AIRC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,647 shares of the company’s stock, valued at approximately $370,000.

A number of other large investors have also bought and sold shares of the stock. Treasurer of the State of North Carolina lifted its holdings in shares of Apartment Income REIT by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after purchasing an additional 330 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Apartment Income REIT by 66.7% during the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock worth $27,000 after buying an additional 353 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Apartment Income REIT by 2.5% in the third quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock valued at $465,000 after buying an additional 374 shares in the last quarter. Manning & Napier Group LLC grew its holdings in shares of Apartment Income REIT by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock valued at $3,205,000 after buying an additional 463 shares during the last quarter. Finally, CWM LLC increased its position in shares of Apartment Income REIT by 64.2% during 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. 98.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIRC has been the topic of several analyst reports. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Truist Financial reduced their price target on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wedbush reissued a “neutral” rating and set a $39.00 target price (up from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. Finally, Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.59.

Apartment Income REIT Price Performance

Shares of NYSE AIRC traded down $0.04 during midday trading on Friday, hitting $38.42. 3,177,505 shares of the company’s stock were exchanged, compared to its average volume of 2,315,473. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $33.37 and its two-hundred day moving average price is $32.62. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 9.10 and a beta of 0.90. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68.

Apartment Income REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were paid a $0.45 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. Apartment Income REIT’s dividend payout ratio is presently 42.55%.

Insider Transactions at Apartment Income REIT

In related news, Director Thomas N. Bohjalian acquired 889 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average cost of $31.50 per share, with a total value of $28,003.50. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Apartment Income REIT 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.