Apartment Income REIT Corp. (NYSE:AIRC) Short Interest Update

Apartment Income REIT Corp. (NYSE:AIRC) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 3,770,000 shares, an increase of 54.5% from the March 31st total of 2,440,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 2,530,000 shares, the short-interest ratio is presently 1.5 days.

Apartment Income REIT Price Performance

NYSE AIRC traded down $0.01 during trading hours on Monday, hitting $38.40. The company had a trading volume of 3,493,131 shares, compared to its average volume of 2,329,307. Apartment Income REIT has a 52 week low of $28.22 and a 52 week high of $38.68. The firm has a 50 day simple moving average of $33.51 and a 200 day simple moving average of $32.69. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.69%. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

Institutional Trading of Apartment Income REIT

A number of large investors have recently modified their holdings of AIRC. Bank of New York Mellon Corp lifted its position in Apartment Income REIT by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock worth $56,215,000 after buying an additional 93,029 shares during the last quarter. New York State Teachers Retirement System increased its stake in Apartment Income REIT by 6.1% in the 3rd quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock worth $6,127,000 after purchasing an additional 11,465 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Apartment Income REIT by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,260 shares of the company’s stock valued at $2,157,000 after buying an additional 3,201 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Apartment Income REIT by 87.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock valued at $40,637,000 after buying an additional 618,134 shares during the period. Finally, Perigon Wealth Management LLC purchased a new position in shares of Apartment Income REIT during the third quarter valued at approximately $257,000. Institutional investors own 98.13% of the company’s stock.

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.