JustInvest LLC reduced its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 22.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,511 shares of the company’s stock after selling 2,214 shares during the quarter. JustInvest LLC’s holdings in Apartment Income REIT were worth $367,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Apartment Income REIT by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 22,243,590 shares of the company’s stock valued at $1,055,014,000 after buying an additional 953,421 shares during the period. BlackRock Inc. raised its holdings in Apartment Income REIT by 3.4% during the second quarter. BlackRock Inc. now owns 17,773,032 shares of the company’s stock worth $842,975,000 after purchasing an additional 590,980 shares during the last quarter. State Street Corp raised its holdings in Apartment Income REIT by 6.4% during the second quarter. State Street Corp now owns 6,885,560 shares of the company’s stock worth $326,582,000 after purchasing an additional 411,318 shares during the last quarter. Zimmer Partners LP acquired a new position in Apartment Income REIT during the second quarter worth $241,089,000. Finally, JPMorgan Chase & Co. raised its holdings in Apartment Income REIT by 64.4% during the second quarter. JPMorgan Chase & Co. now owns 4,680,086 shares of the company’s stock worth $221,976,000 after purchasing an additional 1,833,887 shares during the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.
In other Apartment Income REIT news, CEO Terry Considine sold 31,052 shares of the business’s stock in a transaction dated Monday, December 27th. The stock was sold at an average price of $53.38, for a total transaction of $1,657,555.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.06% of the stock is owned by insiders.
Apartment Income REIT (NYSE:AIRC) last announced its quarterly earnings data on Thursday, October 28th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.48). Apartment Income REIT had a negative net margin of 6.99% and a negative return on equity of 3.63%. On average, equities analysts forecast that Apartment Income REIT Corp. will post 2.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Friday, November 12th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Wednesday, November 10th. Apartment Income REIT’s dividend payout ratio is currently -382.61%.
Several equities analysts recently issued reports on AIRC shares. Jefferies Financial Group raised Apartment Income REIT from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $63.00 in a report on Monday, January 10th. Citigroup raised Apartment Income REIT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $60.00 in a report on Tuesday, December 14th. Zacks Investment Research raised Apartment Income REIT from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Monday, January 3rd. The Goldman Sachs Group began coverage on Apartment Income REIT in a report on Thursday, September 23rd. They issued a “sell” rating and a $50.00 price target for the company. Finally, Truist boosted their price target on Apartment Income REIT from $53.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, December 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.00.
Apartment Income REIT Company Profile
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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