Brokers Expect Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) will report revenue of $188.23 million for the current fiscal quarter, Zacks reports. Two analysts have released estimates for Apartment Income REIT’s revenue, with the lowest estimate of revenue at $186.40 million and the highest estimate at $190.06 million. Apartment Income REIT reported revenue of $178.33 million for the same quarter last year, indicating a positive growth rate of 5.6% year over year. The company is expected to release its next quarterly results on Monday, January 1st.
According to Zacks, analysts expect Apartment Income REIT to report full-year revenue of $762.76 million for the current fiscal year, with estimates ranging from $760.50 million to $765.03 million. For the next fiscal year, analysts expect the company to post revenue of $807.41 million, with estimates ranging from $807.01 million to $807.80 million. Zacks’ sell-side averages are an average based on a survey of sell-side analysts covering the apartment-income REIT.
Apartment Income REIT (NYSE:AIRC – Get Rating) last reported its quarterly results on Monday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.56 ($0.79). Apartment Income REIT had a net margin of 99.27% and a return on equity of 40.71%. For the same period last year, the company generated earnings per share of $0.50.
Several equities analysts have recently issued reports on AIRC stocks. BTIG Research began coverage of Apartment Income REIT in a report on Monday, May 9th. They gave the company a “neutral” rating. Scotiabank lowered its price target on the Apartment Income REIT to $53.00 from $56.00 in a report Thursday. Mizuho lowered its target price on the Apartment Income REIT to $59.00 from $62.00 and gave the stock a “buy” rating in a report dated Wednesday, February 16. Finally, Zacks Investment Research downgraded the Apartment Income REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, March 23. One investment analyst has rated the stock with a sell rating, three have given it a hold rating and three have given it a buy rating. According to data from MarketBeat, the Apartment Income REIT has an average rating of Hold and a consensus price target of $57.57.
Shares of AIRC opened at $43.17 on Friday. The stock has a 50-day moving average of $50.73 and a two-hundred-day moving average of $52.07. The Apartment Income REIT has a yearly low of $42.31 and a yearly high of $55.82. The company has a debt to equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $6.78 billion, a P/E of 9.17 and a beta of 1.05.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20 will receive a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday May 19th. That equates to an annualized dividend of $1.80 and a dividend yield of 4.17%. The Apartment Income REIT’s payout ratio is currently 38.30%.
In other Apartment Income REIT news, CFO Paul Beldin sold 14,500 shares of the company’s shares in one transaction on Friday, March 25. The stock sold at an average price of $52.84 for a total value of $766,180.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed at this link. Also on Thursday, May 5, Director John D. Rayis acquired 1,000 shares of the company’s shares in a transaction. The stock was purchased at an average price of $46.80 per share for a total transaction of $46,800.00. Following the acquisition, the Director now directly owns 8,412 shares of the Company, valued at approximately $393,681.60. The disclosure for this purchase can be found here. Over the past three months, insiders have bought 4,091 shares of the company’s stock for $201,656. 1.06% of the shares are owned by company insiders.
Hedge funds and other institutional investors have recently changed their positions in this business. Point72 Hong Kong Ltd acquired a new interest in Apartment Income REIT valued at approximately $25,000 in Q3. Covestor Ltd acquired a new interest in Apartment Income REIT valued at approximately $26,000 during the fourth quarter. National Bank of Canada FI acquired a new stake in Apartment Income REIT valued at approximately $30,000 in Q4. Harel Insurance Investments & Financial Services Ltd. acquired a new interest in Apartment Income REIT valued at approximately $37,000 during Q1. Finally, Meeder Asset Management Inc. acquired a new interest in Apartment Income REIT valued at approximately $59,000 during Q1. Hedge funds and other institutional investors own 99.21% of the company’s shares.
About Apartment Income REIT (received rating)
AIR is a real estate investment trust focused on owning and managing quality residential communities in the largest markets in the United States. AIR is one of the largest homeowners and operators in the country with 99 communities in 12 states and the District of Columbia.
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