Brokerages expect Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) to report $0.56 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apartment Income REIT’s earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.55. Apartment Income REIT posted earnings per share of $0.50 during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Apartment Income REIT will report full year earnings of $2.41 per share for the current fiscal year, with EPS estimates ranging from $2.38 to $2.45. For the next fiscal year, analysts forecast that the company will report earnings of $2.54 per share, with EPS estimates ranging from $2.43 to $2.65. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Apartment Income REIT.
Several equities analysts recently issued reports on the stock. Citigroup upgraded shares of Apartment Income REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $60.00 in a report on Tuesday, December 14th. Mizuho lowered their target price on shares of Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Truist Financial upped their target price on shares of Apartment Income REIT from $56.00 to $59.00 in a report on Tuesday, January 18th. Jefferies Financial Group raised shares of Apartment Income REIT from a “hold” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $63.00 in a research report on Monday, January 10th. Finally, Zacks Investment Research downgraded shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.33.
Shares of Apartment Income REIT stock traded down $0.67 during trading on Friday, hitting $52.98. The company’s stock had a trading volume of 106 shares, compared to its average volume of 803,654. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.06 and a quick ratio of 1.06. Apartment Income REIT has a 52 week low of $41.90 and a 52 week high of $55.53. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 18.69 and a beta of 1.04. The stock has a 50-day moving average price of $52.66 and a two-hundred day moving average price of $52.46.
The business also recently announced a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Thursday, February 17th were paid a dividend of $0.45 per share. This is a positive change from Apartment Income REIT’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.40%. Apartment Income REIT’s payout ratio is presently 62.72%.
In other Apartment Income REIT news, CFO Paul Beldin sold 14,500 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $52.84, for a total value of $766,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Lisa R. Cohn sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $52.29, for a total transaction of $836,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,258 shares of company stock worth $170,544 and have sold 41,500 shares worth $2,184,830. Insiders own 1.06% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AIRC. Cohen & Steers Inc. grew its holdings in shares of Apartment Income REIT by 8.3% in the third quarter. Cohen & Steers Inc. now owns 26,851,923 shares of the company’s stock worth $1,310,743,000 after purchasing an additional 2,064,781 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Apartment Income REIT by 4.6% in the 4th quarter. BlackRock Inc. now owns 18,252,479 shares of the company’s stock valued at $997,863,000 after buying an additional 799,670 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Apartment Income REIT by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,312,880 shares of the company’s stock valued at $453,809,000 after buying an additional 129,813 shares in the last quarter. State Street Corp boosted its holdings in shares of Apartment Income REIT by 7.2% in the 4th quarter. State Street Corp now owns 7,522,299 shares of the company’s stock valued at $411,244,000 after buying an additional 507,999 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Apartment Income REIT by 12.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 4,307,920 shares of the company’s stock valued at $210,269,000 after purchasing an additional 463,517 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.
Apartment Income REIT Company Profile (Get Rating)
AIR is a real estate investment trust focused on the ownership and management of quality apartment communities located in the largest markets in the United States. AIR is one of the country’s largest owners and operators of apartments, with 99 communities in 12 states and the District of Columbia.
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