33,399 Shares in Apartment Income REIT Corp. (NYSE:AIRC) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in Apartment Income REIT Corp. (NYSE:AIRC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 33,399 shares of the company’s stock, valued at approximately $1,160,000.

Several other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Apartment Income REIT by 66.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company’s stock valued at $27,000 after buying an additional 353 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Apartment Income REIT by 437.5% during the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock valued at $30,000 after buying an additional 700 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Apartment Income REIT during the 4th quarter valued at $37,000. CWM LLC boosted its holdings in shares of Apartment Income REIT by 64.2% during the 4th quarter. CWM LLC now owns 1,281 shares of the company’s stock valued at $44,000 after buying an additional 501 shares in the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of Apartment Income REIT by 926.2% during the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company’s stock valued at $79,000 after buying an additional 2,047 shares in the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apartment Income REIT news, Director Thomas N. Bohjalian bought 889 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $31.50 per share, with a total value of $28,003.50. Following the transaction, the director now owns 20,000 shares in the company, valued at $630,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AIRC shares. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a report on Thursday, April 11th. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a report on Monday, April 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $39.12 price target (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Finally, Wedbush reiterated a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Apartment Income REIT currently has an average rating of “Hold” and an average price target of $36.59.

Apartment Income REIT Stock Performance

NYSE:AIRC traded down $0.05 during mid-day trading on Friday, reaching $38.41. The company’s stock had a trading volume of 3,177,506 shares, compared to its average volume of 5,542,411. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68. The firm’s fifty day moving average price is $33.51 and its two-hundred day moving average price is $32.68. 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 has a market cap of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is 42.55%.

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.