Apartment Income REIT (NYSE:AIRC) Sets New 1-Year High at $39.04

Apartment Income REIT Corp. (NYSE:AIRC)’s share price hit a new 52-week high on Monday . The company traded as high as $39.04 and last traded at $39.02, with a volume of 30504 shares changing hands. The stock had previously closed at $38.99.

Analyst Ratings Changes

A number of analysts have commented on AIRC shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a report on Monday, March 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $39.12 target price (up previously from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.59.

Apartment Income REIT Trading Up 0.1 %

The company has a market capitalization of $5.66 billion, a P/E ratio of 9.15 and a beta of 0.77. The business’s 50-day moving average price is $38.64 and its two-hundred day moving average price is $35.02. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.63 and a quick ratio of 0.63.

Institutional Investors Weigh In On Apartment Income REIT

Several institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its position in Apartment Income REIT by 83.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 120,614 shares of the company’s stock valued at $3,892,000 after acquiring an additional 54,760 shares in the last quarter. Cetera Advisors LLC bought a new stake in Apartment Income REIT during the 1st quarter worth about $462,000. Bayesian Capital Management LP bought a new stake in Apartment Income REIT during the 1st quarter worth about $237,000. Public Employees Retirement System of Ohio lifted its position in Apartment Income REIT by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 309,228 shares of the company’s stock worth $10,041,000 after buying an additional 4,547 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Apartment Income REIT by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,158 shares of the company’s stock worth $2,668,000 after buying an additional 4,117 shares in the last quarter. 98.13% of the stock is owned by institutional investors.

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.