Electronic income

Apartment Income REIT Corp. (NYSE:AIRC) Given the average recommendation of “Hold” by brokerages

Apartment Income REIT Corp. (NYSE:AIRC) received a consensus recommendation of “Hold” from the nine research firms that currently cover the stock, Marketbeat Ratings reports. One equity research analyst gave the stock a sell rating, three gave the company a hold rating and five gave the company a buy rating. The 12-month average target price among brokers who have quoted the stock over the past year is $58.00.

A number of analysts have recently released reports on the company. Truist Securities raised its price target on Apartment Income REIT from $53.00 to $56.00 and gave the company a “holding” rating in a Monday, Dec. 6 report. Jefferies Financial Group upgraded Apartment Income REIT from a “hold” rating to a “buy” rating and raised its price target for the company from $52.00 to $63.00 in a Monday, Jan. 10, report. Truist raised its price target on Apartment Income REIT from $53.00 to $56.00 and gave the company a “holding” rating in a Monday, Dec. 6 report. Goldman Sachs Group began covering Apartment Income REIT in a Thursday, September 23 report. They issued a “sell” rating and a price target of $50.00 for the company. Finally, Zacks Investment Research upgraded Apartment Income REIT from a “hold” rating to a “buy” rating and set a target price of $61.00 for the company in a Monday, January 3, report.

Separately, CEO Terry Considine sold 31,052 shares of the company in a trade on Monday, December 27. The stock was sold at an average price of $53.38, for a total value of $1,657,555.76. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. 1.06% of the shares are held by insiders.

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A number of institutional investors and hedge funds have recently changed their positions in AIRC. Zimmer Partners LP acquired a new stake in Apartment Income REIT during Q2 valued at approximately $241,089,000. Cohen & Steers Inc. increased its holding in shares of Apartment Income REIT by 8.3% during the third quarter. Cohen & Steers Inc. now owns 26,851,923 shares of the company worth $1,310,743,000 after acquiring 2,064,781 additional shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Apartment Income REIT by 64.4% during the second quarter. JPMorgan Chase & Co. now owns 4,680,086 shares of the company worth $221,976,000 after acquiring 1,833,887 additional shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Apartment Income REIT by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 22,243,590 shares of the company worth $1,055,014,000 after acquiring 953,421 additional shares last quarter. Finally, Balyasny Asset Management LLC increased its stake in the shares of Apartment Income REIT by 374.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 984,893 shares of the company worth $46,713,000 after acquiring an additional 777,183 shares last quarter. 98.12% of the shares are currently held by institutional investors.

Shares of AIRC traded down $0.72 during Friday’s midday session, hitting $54.50. 653,912 shares of the company were traded, compared to its average volume of 731,515. The stock has a market capitalization of $8.56 billion and a P/E ratio of -118.48. The stock’s 50-day moving average is $53.17 and its two-hundred-day moving average is $51.59. Apartment Income REIT has a 12-month low of $37.51 and a 12-month high of $55.53. The company has a debt ratio of 2.81, a current ratio of 1.03 and a quick ratio of 1.03.

Apartment Income REIT (NYSE:AIRC) last released its results on Thursday, October 28. The company reported EPS of $0.06 for the quarter, missing analyst consensus estimates of $0.54 per ($0.48). Apartment Income REIT posted a negative net margin of 6.99% and a negative return on equity of 3.63%. Research analysts predict that Apartment Income REIT will post earnings per share of 2.15 for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 30. Investors of record on Friday, November 12 received a dividend of $0.44. This represents an annualized dividend of $1.76 and a dividend yield of 3.23%. The ex-dividend date was Wednesday, November 10. Apartment Income REIT’s payout ratio is -382.61%.

Apartment Income REIT Company Profile

AIR is a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets in the United States. AIR is one of the largest apartment owners and operators in the nation, with 99 communities in 12 states and the District of Columbia.

Further Reading: Price to Earnings Ratio (PE)

Analyst Recommendations for Apartment Income REIT (NYSE:AIRC)

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