Apartment Income REIT Corp (NYSE: AIRC) recently saw an increase in its holdings by 1.2% during the first quarter, according to a filing with the Securities and Exchange Commission. Fmr LLC, a prominent investment firm, acquired an additional 61,419 shares of AIRC stock, bringing its total number of shares to 5,339,437. This represents about 3.58% of Apartment Income REIT’s worth which amounted to $191,205,000 as per the most recent SEC filing.
AIRC is a publicly traded real estate investment trust that focuses on self-administered properties. Currently, their portfolio consists of 73 communities comprising 25,739 apartment homes located across 10 states and the District of Columbia. The company operates on a simple and predictable business model with a strong emphasis on tenant selection and satisfaction as well as innovative property management practices aimed at ensuring optimal resident retention.
In addition to these recent developments in share ownership, Apartment Income REIT Corp also announced a quarterly dividend payment. The dividend was distributed on August 29th to investors who were recorded on August 18th. Shareholders received $0.45 per share in dividends, resulting in an annualized dividend rate of $1.80 per share and a yield of 5.28%. Potential buyers should note that the ex-dividend date was August 17th.
Investors paying attention to cash flow may be interested in the fact that Apartment Income REIT currently has a dividend payout ratio of approximately 86.12%. A high payout ratio typically indicates that a large portion of the company’s profits are being returned to shareholders through dividends.
This recent increase in share holdings by Fmr LLC indicates confidence in Apartment Income REIT Corp’s performance and potential for growth within the real estate market. As always, investors should conduct thorough research and consult with financial advisors before making any investment decisions.
Overall, September 1, 2023 marks an important date for Apartment Income REIT Corp, showcasing steady growth in share ownership and the successful distribution of dividends to loyal investors. With a focus on tenant satisfaction and innovative property management practices, AIRC continues to establish itself as a reliable real estate investment trust in the market.
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Shareholder Positions in Apartment Income REIT Corp (AIRC) Undergo Changes as Institutional Investors Adjust Holdings
Apartment Income REIT Corp (NYSE: AIRC) has recently seen some notable changes in its shareholder positions, as various hedge funds and institutional investors have made adjustments to their holdings in the company. Raymond James Financial Services Advisors Inc. increased its stake in Apartment Income REIT by 7.8% during the first quarter, now owning 10,859 shares valued at $581,000. Natixis Advisors L.P. raised its position by 39.1%, holding 15,307 shares worth $818,000. Allianz Asset Management GmbH also lifted its stake by 11.2%, now sitting at 329,852 shares valued at $17,634,000.
Vanguard Group Inc., one of the largest institutional investors globally, boosted its ownership by an additional 119,016 shares during the first quarter and now holds a total of 22,913,074 shares valued at $1,224,933,000. Similarly,Cibc World Markets Corp grew its holdings by 0.7% during the same period and currently owns 79,022 shares worth $4,225,000.
It is important to note that institutional investors and hedge funds make up a significant portion of Apartment Income REIT’s shareholder base with approximately 98.13% ownership of the company’s stock.
Apartment Income REIT began trading on Friday with an opening price of $34.07 per share. The company boasts a market capitalization of $5.08 billion and has a price-to-earnings (PE) ratio of 16.30 with a beta value of 0.87.
Looking at its recent performance in terms of stock prices,Apartment Income REIT hit a low point of $32.51 in the past year while reaching a high of $43.57.Markets observers track trends like these for insights into potential future movements.The company currently carries a fifty-day moving average price of $34.88 and a two-hundred-day moving average price of $35.65.
As a self-administered real estate investment trust, Apartment Income REIT holds a portfolio of 73 communities encompassing 25,739 apartment homes across 10 states and the District of Columbia.Built upon a simple, predictable business model, the company places emphasis on what it calls the AIR Edge—a culmination of its dedication to resident selection, satisfaction, and retention along with constant innovation in providing top-tier property management services.
AIRC has garnered attention from multiple equities analysts who have analyzed its prospects and performance. 92 Resources reissued their “reiterates” rating on shares of Apartment Income REIT in June 2023.Endorsing this view,Mizuho reduced its price target on AIRC to $40 from $45 in May.But JPMorgan Chase & Co., on the other hand,revised their price objective downward as well—going from $41 to $39. They have deemedAIR’s stock as “neutral”. Additionally,BMO Capital Markets seems positive aboutApartment Income REIT’s potential,giving it an upgraded rating from “market perform” to “outperform” and elevating their target share pricefrom$39to$42.Trust Financial also expressed confidence in the company by upgrading its rating from “hold” to “buy” while setting a target price at $44.
With results collated from Bloomberg.com,Apartment Income REIT currently holds an average rating of “Moderate Buy” from market analysts who collectively set a consensus target price at $41.00.
If you are interested in more detailed analysis or insights regarding Apartment Income REIT Corp (AIRC), make sure to check out our latest stock analysis available on our website.
