Q1 2023 EPS Estimates for Apartment Income REIT Corp. (NYSE:AIRC) Decreased by Jefferies Financial Group

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) – Equities research analysts at Jefferies Financial Group lowered their Q1 2023 earnings per share (EPS) estimates for Apartment Income REIT in a research note issued to investors on Thursday, April 14th. Jefferies Financial Group analyst J. Petersen now expects that the company will post earnings of $0.60 per share for the quarter, down from their previous forecast of $0.61. Jefferies Financial Group currently has a “Buy” rating and a $63.00 price target on the stock. Jefferies Financial Group also issued estimates for Apartment Income REIT’s Q2 2023 earnings at $0.59 EPS, Q1 2024 earnings at $0.62 EPS and FY2024 earnings at $2.53 EPS.

A number of other brokerages have also recently weighed in on AIRC. Mizuho reduced their price target on shares of Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. Zacks Investment Research cut shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.33.

Shares of AIRC opened at $52.41 on Friday. Apartment Income REIT has a 1-year low of $42.54 and a 1-year high of $55.53. The stock has a market cap of $8.23 billion, a PE ratio of 18.26 and a beta of 1.04. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a fifty day moving average price of $52.61 and a 200 day moving average price of $52.50.

The company also recently declared 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 represents a $1.80 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Apartment Income REIT’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, February 16th. Apartment Income REIT’s payout ratio is 62.72%.

In other news, CFO Paul Beldin sold 14,500 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $52.84, for a total transaction of $766,180.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Lisa R. Cohn sold 16,000 shares of the business’s stock in a transaction dated 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. Over the last quarter, 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 and hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. grew its position in Apartment Income REIT by 8.3% during the third quarter. Cohen & Steers Inc. now owns 26,851,923 shares of the company’s stock worth $1,310,743,000 after buying an additional 2,064,781 shares during the period. BlackRock Inc. grew its position in Apartment Income REIT by 4.6% during the fourth quarter. BlackRock Inc. now owns 18,252,479 shares of the company’s stock worth $997,863,000 after buying an additional 799,670 shares during the period. Principal Financial Group Inc. grew its position in Apartment Income REIT by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 8,312,880 shares of the company’s stock worth $453,809,000 after buying an additional 129,813 shares during the period. State Street Corp grew its position in Apartment Income REIT by 7.2% during the fourth quarter. State Street Corp now owns 7,522,299 shares of the company’s stock worth $411,244,000 after buying an additional 507,999 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Apartment Income REIT by 12.1% during the third quarter. Daiwa Securities Group Inc. now owns 4,307,920 shares of the company’s stock worth $210,269,000 after buying an additional 463,517 shares during the period. Institutional investors own 98.61% of the company’s stock.

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

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