Apartment Income REIT Corp. (NYSE:AIRC) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 444.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,497 shares of the company’s stock after acquiring an additional 28,164 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Apartment Income REIT were worth $1,684,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Stifel Financial Corp raised its stake in Apartment Income REIT by 0.7% during the 2nd quarter. Stifel Financial Corp now owns 30,287 shares of the company’s stock worth $1,436,000 after acquiring an additional 201 shares in the last quarter. Aurora Investment Managers LLC. raised its stake in Apartment Income REIT by 0.8% during the 3rd quarter. Aurora Investment Managers LLC. now owns 48,734 shares of the company’s stock worth $2,379,000 after acquiring an additional 386 shares in the last quarter. Securian Asset Management Inc raised its stake in Apartment Income REIT by 2.9% during the 2nd quarter. Securian Asset Management Inc now owns 14,413 shares of the company’s stock worth $684,000 after acquiring an additional 402 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Apartment Income REIT by 5.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,986 shares of the company’s stock worth $682,000 after acquiring an additional 719 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new position in Apartment Income REIT during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 98.12% of the company’s stock.

In related news, CEO Terry Considine sold 31,052 shares of the firm’s stock in a transaction dated Monday, December 27th. The shares were sold at an average price of $53.38, for a total value of $1,657,555.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.06% of the stock is owned by company insiders.

Several research analysts have issued reports on AIRC shares. Truist raised their price objective on shares of Apartment Income REIT from $53.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, December 6th. Citigroup raised shares of Apartment Income REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $60.00 in a research report on Tuesday, December 14th. The Goldman Sachs Group started coverage on shares of Apartment Income REIT in a research report on Thursday, September 23rd. They set a “sell” rating and a $50.00 price objective on the stock. Zacks Investment Research raised shares of Apartment Income REIT from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Monday, January 3rd. Finally, Mizuho raised their price objective on shares of Apartment Income REIT from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.00.

Shares of NYSE:AIRC opened at $54.50 on Friday. The company has a market cap of $8.56 billion and a price-to-earnings ratio of -118.48. The firm’s 50-day simple moving average is $53.17 and its 200-day simple moving average is $51.56. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.81. Apartment Income REIT Corp. has a fifty-two week low of $37.51 and a fifty-two week high of $55.53.

Apartment Income REIT (NYSE:AIRC) last issued its earnings results on Thursday, October 28th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ 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, research analysts forecast that Apartment Income REIT Corp. will post 2.15 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Friday, November 12th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Wednesday, November 10th. Apartment Income REIT’s dividend payout ratio (DPR) is -382.61%.

About Apartment Income REIT

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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Institutional Ownership by Quarter for Apartment Income REIT (NYSE:AIRC)

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