Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Apartment Income REIT Corp shares valued at $23,250 were purchased by Bohjalian Thomas N on Feb 23 ’24. At $31.00 per share, Bohjalian Thomas N acquired 750 shares. The insider’s holdings grew to 20,750 shares worth approximately $0.8 million following the completion of this transaction.
Also, Bohjalian Thomas N purchased 889 shares, netting a total of over 28,004 in proceeds. Following the buying of shares at $31.50 each, the insider now holds 20,000 shares.
As published in a research note from Raymond James on March 18, 2024, Apartment Income REIT Corp [AIRC] has been rated down from an Outperform to a Mkt perform. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late February. Earlier on October 24, 2023, Raymond James initiated its rating. Their recommendation was “an Outperform” for AIRC stock.
Analyzing AIRC Stock Performance
During the last five days, there has been a surge of approximately 22.31%. Over the course of the year, Apartment Income REIT Corp shares have jumped approximately 10.51%. Shares of the company reached a 52-week high of $38.68 on 04/09/24 and a 52-week low of $29.81 on 03/01/24. A 50-day SMA is recorded $32.02, while a 200-day SMA reached $32.71. Nevertheless, trading volume fell to 10.05 million shares from 26.05 million shares the previous day.
Support And Resistance Levels for Apartment Income REIT Corp (AIRC)
According to the 24-hour chart, there is a support level at 38.35, which, if violated, would cause prices to drop to 38.31. In the upper region, resistance lies at 38.45. The next price resistance is at 38.51. RSI (Relative Strength Index) is 79.53 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.28, which suggests the price will increase in the coming days. Percent R is at 3.96%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Apartment Income REIT Corp subject to short interest?
Stocks of Apartment Income REIT Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.94 million shares to 3.24 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.3 million shares. A jump of 29.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.6.
