The time variability and spectra of directly imaged companions provide insight into their physical properties and atmospheric dynamics. We p
The time variability and spectra of directly imaged companions provide insight into their physical properties and atmospheric dynamics. We present follow-up R~40 spectrophotometric monitoring of red companion HD 1160 B at 2.8-4.2 $\mu$m using the double-grating 360{\deg} vector Apodizing Phase Plate (dgvAPP360) coronagraph and ALES integral field spectrograph on the Large Binocular Telescope Interferometer. We use the recently developed technique of gvAPP-enabled differential spectrophotometry to produce differential light curves for HD 1160 B. We reproduce the previously reported ~3.2 h periodic variability in archival data, but detect no periodic variability in new observations taken the following night with a similar 3.5% level precision, suggesting rapid evolution in the variability of HD 1160 B. We also extract complementary spectra of HD 1160 B for each night. The two are mostly consistent, but the companion appears fainter on the second night between 3.0-3.2 $\mu$m. Fitting models to these spectra produces different values for physical properties depending on the night considered. We find an effective temperature T$_{\text{eff}}$ = 2794$^{+115}_{-133}$ K on the first night, consistent with the literature, but a cooler T$_{\text{eff}}$ = 2279$^{+79}_{-157}$ K on the next. We estimate the mass of HD 1160 B to be 16-81 M$_{\text{Jup}}$, depending on its age. We also present R = 50,000 high-resolution optical spectroscopy of host star HD 1160 A obtained simultaneously with the PEPSI spectrograph. We reclassify its spectral type to A1 IV-V and measure its projected rotational velocity v sin i = 96$^{+6}_{-4}$ km s$^{-1}$. We thus highlight that gvAPP-enabled differential spectrophotometry can achieve repeatable few percent level precision and does not yet reach a systematic noise floor, suggesting greater precision is achievable with additional data or advanced detrending techniques. Comment: 22 pages, 12 figures, published in MNRAS; typos corrected, references updated