State of New Jersey Common Pension Fund D Acquires 21,824 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

State of New Jersey Common Pension Fund D raised its position in Apartment Income REIT Corp. (NYSE:AIRC) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,833 shares of the company’s stock after purchasing an additional 21,824 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.30% of Apartment Income REIT worth $15,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in 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 buying an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Apartment Income REIT by 66.7% in the third quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares during the period. Penserra Capital Management LLC increased its holdings in Apartment Income REIT by 2.5% in the third quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock valued at $465,000 after purchasing an additional 374 shares during the period. Manning & Napier Group LLC boosted its position in Apartment Income REIT by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock valued at $3,205,000 after acquiring an additional 463 shares during the last quarter. Finally, CWM LLC boosted its position in Apartment Income REIT by 64.2% during the fourth quarter. CWM LLC now owns 1,281 shares of the company’s stock valued at $44,000 after acquiring an additional 501 shares during the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $31.50 per share, with a total value of $28,003.50. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $630,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Apartment Income REIT Price Performance

NYSE:AIRC traded down $0.01 during trading hours on Thursday, reaching $38.46. 2,326,810 shares of the company were exchanged, compared to its average volume of 2,304,698. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. The stock’s 50-day moving average is $33.24 and its 200-day moving average is $32.57. The firm has a market cap of $5.57 billion, a PE ratio of 9.10 and a beta of 0.90. Apartment Income REIT Corp. has a twelve month low of $28.22 and a twelve month high of $38.68.

Apartment Income REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Analysts Set New Price Targets

Several equities research analysts have commented on AIRC shares. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. Wedbush reissued a “neutral” rating and issued a $39.00 price target (up from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. Janney Montgomery Scott reissued a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. Truist Financial dropped their price objective on shares of 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, Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Apartment Income REIT currently has an average rating of “Hold” and a consensus price target of $36.59.

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.