Short Interest in Apartment Income REIT Corp. (NYSE:AIRC) Rises By 54.5%

Apartment Income REIT Corp. (NYSE:AIRC) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,770,000 shares, a growth of 54.5% from the March 31st total of 2,440,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 2,530,000 shares, the short-interest ratio is presently 1.5 days.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian purchased 889 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $31.50 per share, for a total transaction of $28,003.50. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $630,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 353 shares during the period. Quent Capital LLC raised its stake in Apartment Income REIT by 437.5% during the 4th quarter. Quent Capital LLC now owns 860 shares of the company’s stock worth $30,000 after buying an additional 700 shares during the period. Signaturefd LLC acquired a new stake in Apartment Income REIT during the 4th quarter worth $37,000. CWM LLC raised its stake in Apartment Income REIT by 64.2% during the 4th quarter. CWM LLC now owns 1,281 shares of the company’s stock worth $44,000 after buying an additional 501 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Apartment Income REIT during the 4th quarter worth $48,000. Institutional investors and hedge funds own 98.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $39.00 price objective (up from $35.00) on shares of Apartment Income REIT in a research note on Thursday, April 11th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Apartment Income REIT in a research note on Monday, April 8th. Truist Financial decreased their price target 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. Mizuho lowered Apartment Income REIT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $31.00 in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a research report on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Apartment Income REIT has an average rating of “Hold” and a consensus price target of $36.59.

Apartment Income REIT Trading Down 0.1 %

NYSE:AIRC traded down $0.05 during trading hours on Friday, hitting $38.41. 3,177,506 shares of the stock were exchanged, compared to its average volume of 5,542,411. The company’s 50 day moving average is $33.51 and its two-hundred day moving average is $32.67. Apartment Income REIT has a twelve month low of $28.22 and a twelve month 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. The company has a market capitalization of $5.57 billion, a P/E ratio of 9.08 and a beta of 0.90.

Apartment Income REIT Dividend Announcement

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