Allspring Global Investments Holdings LLC Sells 427,739 Shares of Apartment Income REIT Corp. (NYSE:AIRC)

Allspring Global Investments Holdings LLC decreased its holdings in Apartment Income REIT Corp. (NYSE:AIRC) by 78.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,668 shares of the company’s stock after selling 427,739 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Apartment Income REIT worth $3,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AIRC. Treasurer of the State of North Carolina lifted its position in shares of Apartment Income REIT by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 65,340 shares of the company’s stock worth $2,006,000 after acquiring an additional 330 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Apartment Income REIT by 2.5% in the 3rd quarter. Penserra Capital Management LLC now owns 15,180 shares of the company’s stock worth $465,000 after purchasing an additional 374 shares during the period. Manning & Napier Group LLC boosted its stake in Apartment Income REIT by 0.5% in the 4th quarter. Manning & Napier Group LLC now owns 92,293 shares of the company’s stock worth $3,205,000 after purchasing an additional 463 shares during the period. CWM LLC grew its holdings in Apartment Income REIT by 64.2% during the 4th quarter. CWM LLC now owns 1,281 shares of the company’s stock valued at $44,000 after buying an additional 501 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Apartment Income REIT by 3.9% during the fourth quarter. M&T Bank Corp now owns 18,407 shares of the company’s stock valued at $639,000 after buying an additional 689 shares during the period. Institutional investors own 98.13% of the company’s stock.

Apartment Income REIT Price Performance

AIRC remained flat at $39.08 during midday trading on Tuesday. The company has a market capitalization of $5.67 billion, a P/E ratio of 9.17 and a beta of 0.77. Apartment Income REIT Corp. has a 52 week low of $28.22 and a 52 week high of $39.10. The business has a fifty day moving average price of $38.73 and a 200-day moving average price of $35.26. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.20.

Wall Street Analysts Forecast Growth

AIRC has been the subject of several recent analyst reports. Raymond James cut shares of Apartment Income REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 18th. Janney Montgomery Scott restated a “neutral” rating on shares of Apartment Income REIT in a research report on Monday, April 8th. Wedbush reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Apartment Income REIT in a report on Thursday, April 11th. BMO Capital Markets reissued a “market perform” rating and set a $39.12 price objective (up previously from $36.00) on shares of Apartment Income REIT in a report on Tuesday, April 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Apartment Income REIT in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Apartment Income REIT currently has an average 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.