New York Life Investment Management LLC Purchases Shares of 21,487 Apartment Income REIT Corp. (NYSE:AIRC)

New York Life Investment Management LLC acquired a new position in shares of Apartment Income REIT Corp. (NYSE:AIRC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,487 shares of the company’s stock, valued at approximately $746,000.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AIRC. BMO Capital Markets reiterated a “market perform” rating and set a $39.12 target price (up previously from $36.00) on shares of Apartment Income REIT in a research report on Tuesday, April 9th. Mizuho lowered shares of Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $31.00 in a research report on Wednesday, February 28th. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a research report 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 reduced their target price on Apartment Income REIT from $40.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Apartment Income REIT has an average rating of “Hold” and an average target price of $36.59.

Apartment Income REIT Price Performance

NYSE:AIRC opened at $38.60 on Thursday. Apartment Income REIT Corp. has a one year low of $28.22 and a one year high of $38.70. The stock has a market cap of $5.60 billion, a PE ratio of 9.13 and a beta of 0.78. 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 stock has a 50 day moving average price of $34.54 and a 200 day moving average price of $33.04.

Insider Buying and Selling at Apartment Income REIT

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

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.