Apartment Income REIT (NYSE:AIRC) Hits New 52-Week High at $38.84

Apartment Income REIT Corp. (NYSE:AIRC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $38.84 and last traded at $38.79, with a volume of 2494215 shares changing hands. The stock had previously closed at $38.70.

Analyst Ratings Changes

Several brokerages have recently issued reports on AIRC. Mizuho lowered Apartment Income REIT from a “buy” rating to a “neutral” rating and reduced their price target for the company 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 report on Monday, March 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a report on Thursday, February 22nd. Truist Financial reduced their price target on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Apartment Income REIT in a report 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Trading Down 0.4 %

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.63 and a current ratio of 0.63. The company has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $33.70. The company has a market capitalization of $5.61 billion, a P/E ratio of 9.08 and a beta of 0.78.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIRC. Bayesian Capital Management LP bought a new stake in shares of Apartment Income REIT during the first quarter valued at approximately $237,000. Public Employees Retirement System of Ohio boosted its stake in Apartment Income REIT by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 309,228 shares of the company’s stock valued at $10,041,000 after buying an additional 4,547 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Apartment Income REIT by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,158 shares of the company’s stock valued at $2,668,000 after buying an additional 4,117 shares in the last quarter. Long Pond Capital LP boosted its stake in Apartment Income REIT by 42.9% in the 1st quarter. Long Pond Capital LP now owns 2,027,211 shares of the company’s stock valued at $65,824,000 after buying an additional 608,627 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in Apartment Income REIT in the 1st quarter valued at $1,682,000. 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.