Retirement Systems of Alabama Has $16.38 Million Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Retirement Systems of Alabama trimmed its position in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 504,435 shares of the company’s stock after selling 2,666 shares during the quarter. Retirement Systems of Alabama owned 0.35% of Apartment Income REIT worth $16,379,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Apartment Income REIT by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 41,600 shares of the company’s stock worth $1,351,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Apartment Income REIT by 0.5% during the third 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 during the period. Penserra Capital Management LLC grew its holdings in Apartment Income REIT by 2.5% during the third quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock worth $465,000 after buying an additional 374 shares in the last quarter. Manning & Napier Group LLC grew its holdings in Apartment Income REIT by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock worth $3,205,000 after buying an additional 463 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Apartment Income REIT by 7.0% during the first quarter. Fifth Third Bancorp now owns 7,272 shares of the company’s stock worth $236,000 after buying an additional 475 shares in the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.

Apartment Income REIT Price Performance

Shares of AIRC stock remained flat at $39.08 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.20. The firm has a market cap of $5.67 billion, a PE ratio of 9.17 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 $39.10. The firm’s 50-day moving average is $38.77 and its 200-day moving average is $35.35.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial decreased their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Wedbush reiterated a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Raymond James downgraded Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.59.

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.