Apartment Income REIT Corp. (NYSE:AIRC) Expected to Announce Earnings of $0.49 Per Share


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Wall Street brokerages forecast that Apartment Income REIT Corp. (NYSE:AIRC) will announce earnings per share (EPS) of $0.49 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Apartment Income REIT’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.51. The business is scheduled to report its next quarterly earnings results on Wednesday, May 12th.

On average, analysts expect that Apartment Income REIT will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.06. For the next fiscal year, analysts anticipate that the business will post earnings of $2.09 per share, with EPS estimates ranging from $2.03 to $2.13. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Apartment Income REIT.

Apartment Income REIT (NYSE:AIRC) last released its earnings results on Tuesday, February 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.50).

AIRC has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of Apartment Income REIT from $30.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, March 15th. Truist cut shares of Apartment Income REIT from a “buy” rating to a “hold” rating and lifted their price target for the company from $40.00 to $41.00 in a research report on Friday, January 22nd. Jefferies Financial Group initiated coverage on shares of Apartment Income REIT in a research report on Tuesday, January 12th. They set a “hold” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Apartment Income REIT in a research report on Thursday, December 31st. They set a “neutral” rating and a $43.00 price target on the stock. Finally, Zelman & Associates raised shares of Apartment Income REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.89.

AIRC stock traded up $0.11 during midday trading on Friday, reaching $42.89. 3,716 shares of the company’s stock traded hands, compared to its average volume of 1,177,026. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.06. Apartment Income REIT has a fifty-two week low of $35.99 and a fifty-two week high of $45.89. The stock’s 50-day simple moving average is $42.99.

The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Investors of record on Friday, February 12th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.01%.

In related news, insider Keith M. Kimmel sold 17,000 shares of Apartment Income REIT stock in a transaction on Monday, March 8th. The shares were sold at an average price of $41.88, for a total value of $711,960.00. Following the completion of the sale, the insider now owns 27,115 shares in the company, valued at $1,135,576.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul Beldin sold 7,500 shares of Apartment Income REIT stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief financial officer now owns 76,038 shares of the company’s stock, valued at approximately $3,410,304.30. The disclosure for this sale can be found here.

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Apartment Income REIT during the fourth quarter valued at $29,000. Bessemer Group Inc. bought a new stake in Apartment Income REIT during the fourth quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. bought a new stake in Apartment Income REIT during the fourth quarter valued at $72,000. Capital Asset Advisory Services LLC bought a new stake in Apartment Income REIT during the fourth quarter valued at $79,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Apartment Income REIT during the fourth quarter valued at $98,000.

Apartment Income REIT Company Profile

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 98 communities in 12 states and the District of Columbia.

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Earnings History and Estimates for Apartment Income REIT (NYSE:AIRC)

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