Analysts expect Apartment Income REIT Corp. (NYSE:AIRC- Get a rating) to report earnings per share (EPS) of $0.64 for the current fiscal quarter, Zacks Investment Research reports. Two analysts provided earnings estimates for Apartment Income REIT, with the lowest EPS estimate of $0.56 and the highest estimate of $0.70. Apartment Income REIT posted earnings of $0.52 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 23.1%. The company is expected to release its next earnings report on Monday, January 1.

On average, analysts expect Apartment Income REIT to report full year earnings of $2.42 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.43. For the next fiscal year, analysts expect the company to post earnings of $2.50 per share, with EPS estimates ranging from $2.43 to $2.59. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that provide coverage for Apartment Income REIT.

Apartment Income REIT (NYSE: AIRC – Get a rating) last released its results on Monday, May 2. The company reported ($0.23) earnings per share (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%. During the same period last year, the company achieved EPS of $0.50.

A number of research companies have recently published reports on AIRC. BTIG Research began covering Apartment Income REIT in a research note on Monday, May 9. They set a “neutral” rating on the stock. Mizuho lowered its price target on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating for the company in a Wednesday, February 16 research report. Scotiabank lowered its price target on Apartment Income REIT from $56.00 to $53.00 in a Thursday, May 19 research note. Zacks Investment Research downgraded Apartment Income REIT from a “buy” rating to a “hold” rating in a Wednesday, March 23 research report. Finally, Truist Financial cut its price target on Apartment Income REIT from $58.00 to $49.00 and set a “hold” rating on the stock in a Wednesday, May 25 research note. One analyst rated the stock with a sell rating, three gave the company a hold rating and three gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.14.

NYSE AIRC shares traded down $0.29 at midday Thursday, hitting $42.29. 309 shares of the stock traded in hands, compared to its average volume of 927,136. The company has a market capitalization of $6.64 billion, a PE ratio of 9.04 and a beta of 1.07. Apartment Income REIT has a one-year low of $42.31 and a one-year high of $55.82. The company has a 50-day moving average price of $48.27 and a two-hundred-day moving average price of $51.19. The company has a debt ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31. Investors of record on Friday, May 20 received a dividend of $0.45 per share. This represents a dividend of $1.80 on an annualized basis and a yield of 4.26%. The ex-dividend date was Thursday, May 19. Apartment Income REIT’s dividend payout ratio (DPR) is currently 38.30%.

In other news, Director Devin Ignatius Murphy acquired 2,000 shares of the company in a transaction dated Friday, March 11. The shares were purchased at an average price of $52.45 per share, for a total transaction of $104,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, insider Keith M. Kimmel sold 11,000 shares in a trade that took place on Thursday, March 17. The stock was sold at an average price of $52.91, for a total transaction of $582,010.00. Disclosure of this sale can be found here. Insiders purchased a total of 4,091 shares of the company worth $201,656 over the past 90 days. 1.06% of the shares are held by insiders.

Institutional investors have recently changed their positions in the stock. Verition Fund Management LLC increased its holding in shares of Apartment Income REIT by 54.6% during the 1st quarter. Verition Fund Management LLC now owns 20,416 shares of the company worth $1,091,000 after acquiring an additional 7,213 shares during the period. Aurora Investment Counsel increased its holdings in Apartment Income REIT by 6.0% during the first quarter. Aurora Investment Counsel now owns 18,056 shares of the company worth $965,000 after acquiring an additional 1,022 shares during the period. Neuberger Berman Group LLC increased its position in shares of Apartment Income REIT by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 1,153,289 shares of the company valued at $61,655,000 after acquiring 40,906 additional shares last quarter. Virtu Financial LLC increased its position in Apartment Income REIT by 16.0% during the first quarter. Virtu Financial LLC now owns 6,493 shares of the company worth $347,000 after purchasing an additional 894 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Apartment Income REIT during the first quarter worth approximately $1,475,000. 99.21% of the shares are held by hedge funds and other institutional investors.

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.

Further reading

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