Los Angeles Capital Management LLC Purchases 184,513 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Los Angeles Capital Management LLC grew its position in shares of Apartment Income REIT Corp. (NYSE:AIRC) by 1,725.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,206 shares of the company’s stock after buying an additional 184,513 shares during the quarter. Los Angeles Capital Management LLC owned 0.13% of Apartment Income REIT worth $6,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Apartment Income REIT by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,831,113 shares of the company’s stock worth $56,215,000 after buying an additional 93,029 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Apartment Income REIT by 6.1% during the third quarter. New York State Teachers Retirement System now owns 199,564 shares of the company’s stock valued at $6,127,000 after purchasing an additional 11,465 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Apartment Income REIT by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,260 shares of the company’s stock valued at $2,157,000 after purchasing an additional 3,201 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Apartment Income REIT by 87.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,323,687 shares of the company’s stock worth $40,637,000 after purchasing an additional 618,134 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in Apartment Income REIT in the 3rd quarter worth approximately $257,000. Hedge funds and other institutional investors own 98.13% of the company’s stock.

Insider Transactions at Apartment Income REIT

In other Apartment Income REIT news, Director Thomas N. Bohjalian bought 889 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 20,000 shares of the company’s stock, valued at $630,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Apartment Income REIT Price Performance

AIRC stock opened at $38.58 on Friday. 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 company has a market capitalization of $5.60 billion, a PE ratio of 9.12 and a beta of 0.78. The company’s fifty day moving average price is $34.21 and its 200-day moving average price is $32.92. Apartment Income REIT Corp. has a one year low of $28.22 and a one year high of $38.68.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AIRC. Mizuho downgraded Apartment Income REIT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $31.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 price target on shares of Apartment Income REIT in a research note on Thursday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. 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 report on Tuesday, April 9th. Finally, Truist Financial reduced their price target on 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 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.59.

About Apartment Income REIT

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.