Wall Street brokers predict that Apartment Income REIT Corp. (NYSE: AIRC – Get a rating) will post earnings of $0.61 per share for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Apartment Income REIT, with estimates ranging from $0.56 to $0.69. Apartment Income REIT reported earnings of $0.52 per share in the same quarter last year, indicating a positive growth rate of 17.3% year over year. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Apartment Income REIT to report annual earnings of $2.43 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.45. For the next fiscal year, analysts expect the company to post earnings of $2.54 per share, with EPS estimates ranging from $2.43 to $2.65. Zacks EPS averages are an average average based on a survey of research companies that cover Apartment Income REITs.
Apartment Income REIT (NYSE: AIRC – Get a rating) last released its quarterly earnings data on Monday, May 2. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.56 per ($0.79). Apartment Income REIT had a return on equity of 40.71% and a net margin of 99.27%. In the same quarter of the previous year, the company had earned earnings per share of $0.50.
A number of research companies have published reports on AIRC. Zacks Investment Research downgraded shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a Wednesday, March 23 report. BTIG Research began covering shares of Apartment Income REIT in a report on Monday, May 9. They issued a “neutral” rating on the title. Mizuho cut its price target on Apartment Income REIT shares from $62.00 to $59.00 and set a “buy” rating on the stock in a Wednesday, February 16, report. Finally, Scotiabank cut its target price on shares of Apartment Income REIT from $56.00 to $53.00 in a report released Thursday. One equity research analyst has assigned the stock a sell rating, three have issued a hold rating and three have assigned the company a buy rating. Based on data from MarketBeat.com, Apartment Income REIT has a consensus rating of “Hold” and a consensus price target of $57.57.
In other Apartment Income REIT news, Director John D. Rayis purchased 500 shares of the company in a transaction that took place on Friday, February 18. The shares were purchased at an average cost of $51.44 per share, with a total value of $25,720.00. The acquisition was disclosed in an SEC filing, available at the SEC website. Also, CFO Paul Beldin sold 14,500 shares of the company in a trade on Friday, March 25. The stock was sold at an average price of $52.84, for a total transaction of $766,180.00. Disclosure of this sale can be found here. During the last quarter, insiders purchased 4,591 shares of the company worth $227,376. Insiders own 1.06% of the shares of the company.
A number of institutional investors have recently changed their positions in the stock. Exchange Traded Concepts LLC increased its position in Apartment Income REIT by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,272 shares of the company worth $616,000 after purchasing an additional 204 shares during the period. First Republic Investment Management Inc. increased its holdings in Apartment Income REIT by 0.8% in the fourth quarter. First Republic Investment Management Inc. now owns 32,921 shares of the company worth $1,800,000 after buying 254 additional shares last quarter. The Louisiana State Employees Retirement System increased its holdings in Apartment Income REIT by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 40,400 shares of the company worth $2,209,000 after buying 400 more shares last quarter. Vident Investment Advisory LLC increased its holdings in Apartment Income REIT by 1.9% in Q4. Vident Investment Advisory LLC now owns 21,845 shares of the company worth $1,195,000 after buying 403 additional shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Apartment Income REIT by 2.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,747 shares of the company worth $861,000 after buying 409 more shares last quarter. 99.21% of the shares are held by hedge funds and other institutional investors.
NYSE: AIRC traded down $0.42 on Thursday, hitting $42.85. The stock had a trading volume of 896,953 shares, compared to its average volume of 849,532. The company has a market capitalization of $6.73 billion, a price-earnings ratio of 9.12 and a beta of 1.05. The company has a debt ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The company’s fifty-day moving average is $50.73 and its two-hundred-day moving average is $52.07. Apartment Income REIT has a 12-month low of $42.31 and a 12-month high of $55.82.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Friday, May 20 will receive a dividend of $0.45 per share. The ex-dividend date is Thursday, May 19. This represents an annualized dividend of $1.80 and a dividend yield of 4.20%. Apartment Income REIT’s payout ratio is currently 38.30%.
Apartment Income REIT Company Profile (Get a rating)
AIR is a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets in the United States. AIR is one of the largest apartment owners and operators in the nation, with 99 communities in 12 states and the District of Columbia.
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