Short Interest in Apartment Income REIT Corp. (NYSE:AIRC) Rises By 54.5%

Apartment Income REIT Corp. (NYSE:AIRC) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,770,000 shares, a growth of 54.5% from the March 31st total of 2,440,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average trading volume of 2,530,000 shares, the days-to-cover ratio is presently 1.5 days.

Apartment Income REIT Stock Down 0.1 %

Shares of NYSE AIRC traded down $0.05 during trading on Friday, hitting $38.41. 3,177,506 shares of the company traded hands, compared to its average volume of 5,542,411. The business’s fifty day moving average is $33.51 and its 200 day moving average is $32.67. Apartment Income REIT has a fifty-two week low of $28.22 and a fifty-two week high of $38.68. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65.

Apartment Income REIT Dividend Announcement

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

Insider Activity at Apartment Income REIT

In other news, Director Thomas N. Bohjalian acquired 889 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $31.50 per share, with a total value of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apartment Income REIT

Several institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC bought a new stake in shares of Apartment Income REIT during the first quarter worth about $3,232,000. Louisiana State Employees Retirement System increased 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 acquiring an additional 300 shares in the last quarter. Amalgamated Bank increased its position in shares of Apartment Income REIT by 7.2% during the first quarter. Amalgamated Bank now owns 98,632 shares of the company’s stock worth $3,203,000 after acquiring an additional 6,624 shares in the last quarter. Fifth Third Bancorp increased its position in shares of 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 acquiring an additional 475 shares in the last quarter. Finally, West Coast Financial LLC increased its position in shares of Apartment Income REIT by 1.4% during the first quarter. West Coast Financial LLC now owns 86,326 shares of the company’s stock worth $2,803,000 after acquiring an additional 1,154 shares in the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AIRC shares. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Truist Financial reduced their price objective on shares of Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $34.00 price objective on shares of Apartment Income REIT in a research note on Thursday, February 22nd. BMO Capital Markets reissued 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. Finally, Wolfe Research reissued a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.