Brokerages Set Apartment Income REIT Corp. (NYSE:AIRC) Target Price at $36.59

Apartment Income REIT Corp. (NYSE:AIRC) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.59.

AIRC has been the topic of a number of research reports. Wedbush reaffirmed a “neutral” rating and set a $39.00 target price (up previously from $35.00) on shares of Apartment Income REIT in a research report on Thursday, April 11th. BMO Capital Markets reaffirmed 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. Raymond James lowered shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 18th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research report on Thursday, April 11th.

Institutional Investors Weigh In On Apartment Income REIT

A number of institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in shares of Apartment Income REIT by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 41,600 shares of the company’s stock valued at $1,351,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Apartment Income REIT by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock valued at $2,006,000 after purchasing an additional 330 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Apartment Income REIT by 2.5% in the 3rd quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock valued at $465,000 after purchasing an additional 374 shares in the last quarter. Capital Square LLC boosted its stake in shares of Apartment Income REIT by 1.9% in the 1st quarter. Capital Square LLC now owns 23,060 shares of the company’s stock valued at $749,000 after purchasing an additional 433 shares in the last quarter. Finally, Manning & Napier Group LLC boosted its stake in shares of Apartment Income REIT by 0.5% in the 4th quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock valued at $3,205,000 after purchasing an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.

Apartment Income REIT Stock Performance

NYSE:AIRC opened at $39.08 on Thursday. Apartment Income REIT has a 12 month low of $28.22 and a 12 month high of $39.10. The company’s 50 day moving average is $38.79 and its 200-day moving average is $35.46. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 9.17 and a beta of 0.77. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.20.

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.