Los Angeles Capital Management LLC Increases Position in Apartment Income REIT Corp. (NYSE:AIRC)

Los Angeles Capital Management LLC grew its stake in shares of Apartment Income REIT Corp. (NYSE:AIRC - Free Report) by 1,725.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,206 shares of the company's stock after buying an additional 184,513 shares during the period. Los Angeles Capital Management LLC owned 0.13% of Apartment Income REIT worth $6,780,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Apartment Income REIT by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company's stock valued at $416,681,000 after purchasing an additional 1,470,804 shares during the period. Principal Financial Group Inc. lifted its position in shares of Apartment Income REIT by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 9,131,443 shares of the company's stock valued at $280,334,000 after buying an additional 213,160 shares in the last quarter. FMR LLC boosted its position in shares of Apartment Income REIT by 7.7% in the third quarter. FMR LLC now owns 5,758,309 shares of the company's stock worth $176,780,000 after purchasing an additional 411,299 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Apartment Income REIT by 4.0% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,443,819 shares of the company's stock valued at $84,874,000 after acquiring an additional 93,750 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Apartment Income REIT by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,082,376 shares of the company's stock worth $63,929,000 after purchasing an additional 107,786 shares in the last quarter. 98.13% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Thomas N. Bohjalian acquired 889 shares of Apartment Income REIT stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $31.50 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Apartment Income REIT Price Performance

Shares of AIRC traded up $0.12 during mid-day trading on Friday, reaching $38.58. 5,671,723 shares of the company's stock were exchanged, compared to its average volume of 6,401,149. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 9.12 and a beta of 0.78. The company has a 50-day simple moving average of $34.21 and a two-hundred day simple moving average of $32.93. Apartment Income REIT Corp. has a 52-week low of $28.22 and a 52-week high of $38.68. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.10.

Wall Street Analyst Weigh In

AIRC has been the subject of several recent research reports. 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 report on Tuesday, April 9th. The Goldman Sachs Group reissued a "neutral" rating and set a $34.00 price objective on shares of Apartment Income REIT in a report on Thursday, February 22nd. Wedbush restated a "neutral" rating and set a $39.00 price objective (up from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Raymond James cut Apartment Income REIT from an "outperform" rating to a "market perform" rating in a report on Monday, March 18th. Finally, Truist Financial decreased 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 research report on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.