Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) Executive Vice President Joshua Minix purchased 548 shares of the company in a trade dated Thursday, May 5. The shares were acquired at an average cost of $45.54 per share, for a total transaction of $24,955.92. Following the acquisition, the executive vice president now owns 548 shares of the company, valued at approximately $24,955.92. The acquisition was disclosed in a filing with the SEC, accessible via the SEC’s website.
Apartment Income REIT stock traded down $1.18 at midday on Friday, hitting $44.95. The company’s shares had a trading volume of 1,285,631 shares, compared to an average volume of 832,209. The company has a quick ratio of 1.06, a current ratio of 1.06 and a leverage ratio of 1.48. The stock has a market capitalization of $7.06 billion, a P/E ratio of 9.64 and a beta of 1.05. Apartment Income REIT Corp. has a 12-month low of $42.96 and a 12-month high of $55.82. The stock’s fifty-day moving average price is $52.43 and its two-hundred-day moving average price is $52.63.
Apartment Income REIT (NYSE:AIRC – Get Rating) last released its quarterly results on Monday, May 2. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 per ($0.79). Apartment Income REIT had a return on equity of 40.71% and a net margin of 99.27%. In the same quarter last year, the company posted earnings per share of $0.50. Stock analysts expect Apartment Income REIT Corp. shows earnings per share of 2.41 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Friday, May 20 will receive a dividend of $0.45. The ex-dividend date is Thursday, May 19. This represents an annualized dividend of $1.80 and a yield of 4.00%. Apartment Income REIT’s dividend payout ratio (DPR) is 38.30%.
A number of institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Apartment Income REIT in the first quarter worth approximately $5,150,000. Cbre Investment Management Listed Real Assets LLC increased its position in Apartment Income REIT by 7.9% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,456,939 shares of the company worth $77,888,000 after purchasing an additional 106,826 shares in the last quarter. New York State Common Retirement Fund increased its position in Apartment Income REIT by 2.7% during the first quarter. The New York State Common Retirement Fund now owns 181,927 shares of the company worth $9,726,000 after buying 4,864 additional shares in the last quarter. Ropes Wealth Advisors LLC bought a new position in Apartment Income REIT during Q1 worth approximately $732,000. Finally, Envestnet Asset Management Inc. increased its position in Apartment Income REIT by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 111,475 shares of the company worth $5,959,000 after purchasing an additional 1,356 shares in the last quarter. Hedge funds and other institutional investors hold 99.21% of the company’s shares.
The AIRC has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Apartment Income REIT from a “hold” rating to a “buy” rating and raised its target price for the stock from $52.00 to $63.00 in a Monday, January 10 report. Zacks Investment Research upgraded Apartment Income REIT from a “buy” rating to a “hold” rating in a Wednesday, March 23 report. Truist Financial raised its target price on Apartment Income REIT from $56.00 to $59.00 in a Tuesday, January 18 report. Finally, Mizuho lowered its price target on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a Wednesday, February 16, report. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, Apartment Income REIT currently has a consensus rating of “Hold” and a consensus target price of $58.33.
About Apartment Income REIT (Get a rating)
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.
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