Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) Director Devin Ignatius Murphy acquired 500 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was purchased at an average price of $39.50 per share, for a total transaction of $19,750.00. Following the transaction, the director now directly owns 8,886 shares of the company’s stock, valued at approximately $350,997. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Apartment Income REIT Stock Performance
Apartment Income REIT stock traded down $0.08 during mid-day trading on Thursday, reaching $39.62. 939,016 shares of the stock traded hands, compared to its average volume of 798,375. The stock has a market capitalization of $6.11 billion, a PE ratio of 6.54 and a beta of 1.07. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.23 and a quick ratio of 0.23. Apartment Income REIT Corp. has a 12-month low of $39.06 and a 12-month high of $55.82. The business’s 50-day moving average is $42.98 and its 200-day moving average is $45.79.
Apartment Income REIT (NYSE:AIRC – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $1.04. Apartment Income REIT had a return on equity of 47.81% and a net margin of 127.20%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts predict that Apartment Income REIT Corp. will post 2.4 EPS for the current fiscal year.
Apartment Income REIT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, August 18th. Apartment Income REIT’s dividend payout ratio is presently 29.61%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. Jefferies Financial Group cut shares of Apartment Income REIT from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Friday, July 22nd. BMO Capital Markets cut shares of Apartment Income REIT from a “market perform” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a report on Friday, August 19th. Finally, Mizuho upped their price objective on shares of Apartment Income REIT from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.71.
Institutional Trading of Apartment Income REIT
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Apartment Income REIT by 0.5% during the first quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock valued at $1,224,933,000 after purchasing an additional 119,016 shares during the period. BlackRock Inc. boosted its stake in shares of Apartment Income REIT by 4.6% in the fourth quarter. BlackRock Inc. now owns 18,252,479 shares of the company’s stock worth $997,863,000 after acquiring an additional 799,670 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Apartment Income REIT by 1.7% in the second quarter. Principal Financial Group Inc. now owns 8,734,781 shares of the company’s stock worth $363,367,000 after acquiring an additional 148,802 shares during the period. State Street Corp boosted its stake in shares of Apartment Income REIT by 13.8% in the first quarter. State Street Corp now owns 8,563,449 shares of the company’s stock worth $457,802,000 after acquiring an additional 1,041,150 shares during the period. Finally, FMR LLC boosted its stake in shares of Apartment Income REIT by 2.4% in the second quarter. FMR LLC now owns 6,473,847 shares of the company’s stock worth $269,313,000 after acquiring an additional 149,733 shares during the period. Institutional investors own 99.08% of the company’s stock.
Apartment Income REIT Company Profile
AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest…