Allspring Global Investments Holdings LLC Sells 108,899 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Apartment Income REIT Corp. (NYSE:AIRC - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,407 shares of the company's stock after selling 108,899 shares during the period. Allspring Global Investments Holdings LLC owned about 0.37% of Apartment Income REIT worth $19,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIRC. Raymond James Financial Services Advisors Inc. lifted its position in Apartment Income REIT by 7.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,859 shares of the company's stock valued at $581,000 after buying an additional 784 shares in the last quarter. Natixis Advisors L.P. lifted its position in Apartment Income REIT by 39.1% during the first quarter. Natixis Advisors L.P. now owns 15,307 shares of the company's stock valued at $818,000 after buying an additional 4,306 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Apartment Income REIT by 11.2% during the first quarter. Allianz Asset Management GmbH now owns 329,852 shares of the company's stock valued at $17,634,000 after buying an additional 33,198 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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. Finally, Cibc World Markets Corp raised its stake in shares of Apartment Income REIT by 0.7% during the first quarter. Cibc World Markets Corp now owns 79,022 shares of the company's stock valued at $4,225,000 after purchasing an additional 543 shares during the period. 98.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIRC has been the topic of a number of analyst reports. BMO Capital Markets reiterated a "market perform" rating and set a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Raymond James lowered shares of Apartment Income REIT from an "outperform" rating to a "market perform" rating in a research note on Monday, March 18th. The Goldman Sachs Group restated a "neutral" rating and issued a $34.00 price target on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Wedbush restated 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. Finally, Janney Montgomery Scott reiterated a "neutral" rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Apartment Income REIT presently has a consensus rating of "Hold" and an average target price of $36.59.

Insider Activity

In related news, Director Thomas N. Bohjalian acquired 889 shares of Apartment Income REIT stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 20,000 shares of the company's stock, valued at approximately $630,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Apartment Income REIT Stock Performance

Shares of AIRC traded down $0.04 during midday trading on Monday, hitting $38.32. 5,004,689 shares of the stock traded hands, compared to its average volume of 2,089,061. Apartment Income REIT Corp. has a 1-year low of $28.22 and a 1-year high of $38.68. The firm has a market capitalization of $5.55 billion, a PE ratio of 9.06 and a beta of 0.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.65 and a current ratio of 0.65. The business's 50 day moving average price is $32.33 and its two-hundred day moving average price is $32.19.

Apartment Income REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Thursday, February 15th. Apartment Income REIT's dividend payout ratio (DPR) is 42.55%.

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.