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

Shares of Apartment Income REIT Corp. (NYSE:AIRC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.04 and last traded at $39.02, with a volume of 30504 shares. The stock had previously closed at $38.99.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AIRC shares. Mizuho cut Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $31.00 in a report on Wednesday, February 28th. 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $39.12 target price (up from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Finally, Truist Financial cut their target price on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Apartment Income REIT currently has a consensus rating of “Hold” and a consensus price target of $36.59.

Apartment Income REIT Stock Up 0.1 %

The firm has a 50-day simple moving average of $38.64 and a 200 day simple moving average of $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. The company has a market capitalization of $5.66 billion, a PE ratio of 9.15 and a beta of 0.77.

Institutional Trading of Apartment Income REIT

A number of hedge funds and other institutional investors have recently modified their holdings of AIRC. UBS Group AG increased its position in shares of Apartment Income REIT by 2.2% during the third quarter. UBS Group AG now owns 168,156 shares of the company’s stock worth $5,162,000 after acquiring an additional 3,605 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Apartment Income REIT by 16.4% during the third quarter. Envestnet Asset Management Inc. now owns 139,004 shares of the company’s stock worth $4,267,000 after acquiring an additional 19,570 shares during the last quarter. Invesco Ltd. increased its position in shares of Apartment Income REIT by 2.4% during the third quarter. Invesco Ltd. now owns 975,323 shares of the company’s stock worth $29,942,000 after acquiring an additional 22,830 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Apartment Income REIT by 785.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,983 shares of the company’s stock worth $1,166,000 after acquiring an additional 33,693 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Apartment Income REIT by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after acquiring an additional 330 shares during the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

About Apartment Income REIT

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.