Daiwa Securities Group Inc. Cuts Holdings in Apartment Income REIT Corp. (NYSE:AIRC)

Daiwa Securities Group Inc. reduced its stake in Apartment Income REIT Corp. (NYSE:AIRC - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,451,278 shares of the company's stock after selling 603,362 shares during the quarter. Daiwa Securities Group Inc. owned about 1.67% of Apartment Income REIT worth $85,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Apartment Income REIT by 66.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 882 shares of the company's stock valued at $27,000 after acquiring an additional 353 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Apartment Income REIT by 356.7% in the 1st quarter. Belpointe Asset Management LLC now owns 813 shares of the company's stock valued at $29,000 after acquiring an additional 635 shares in the last quarter. Quent Capital LLC lifted its position in Apartment Income REIT by 437.5% in the 4th quarter. Quent Capital LLC now owns 860 shares of the company's stock valued at $30,000 after acquiring an additional 700 shares in the last quarter. Denali Advisors LLC lifted its position in Apartment Income REIT by 926.2% in the 4th quarter. Denali Advisors LLC now owns 2,268 shares of the company's stock valued at $79,000 after acquiring an additional 2,047 shares in the last quarter. Finally, First Manhattan Co. bought a new position in Apartment Income REIT in the 1st quarter valued at approximately $121,000. 98.13% of the stock is owned by institutional investors.

Insider Transactions at Apartment Income REIT

In related news, Director Thomas N. Bohjalian acquired 889 shares of Apartment Income REIT stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the purchase, the director now directly owns 20,000 shares of the company's stock, valued at approximately $630,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Apartment Income REIT Stock Performance

Shares of NYSE:AIRC traded up $0.05 during midday trading on Wednesday, hitting $38.35. The company had a trading volume of 2,678,408 shares, compared to its average volume of 2,184,821. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 9.07 and a beta of 0.90. Apartment Income REIT Corp. has a 12-month low of $28.22 and a 12-month high of $38.68. The company has a fifty day moving average of $32.57 and a two-hundred day moving average of $32.29.

Apartment Income REIT Announces Dividend

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

Analyst Upgrades and Downgrades

AIRC has been the topic of several analyst reports. Truist Financial lowered their price objective on Apartment Income REIT from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. Janney Montgomery Scott reiterated a "neutral" rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Mizuho lowered shares of Apartment Income REIT from a "buy" rating to a "neutral" rating and decreased their target price for the company from $37.00 to $31.00 in a research note on Wednesday, February 28th. BMO Capital Markets reiterated a "market perform" rating and set a $39.12 target price (up from $36.00) on shares of Apartment Income REIT in a research note on Tuesday, April 9th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Apartment Income REIT has a consensus rating of "Hold" and a consensus price target of $36.59.

Apartment Income REIT 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.