Apartment Income REIT Corp. (NYSE:AIRC) Expected to Announce Quarterly Sales of $188.18 Million

Wall Street analysts expect that Apartment Income REIT Corp. (NYSE:AIRCGet Rating) will report sales of $188.18 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apartment Income REIT’s earnings. The highest sales estimate is $191.00 million and the lowest is $185.37 million. Apartment Income REIT posted sales of $176.41 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The firm is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Apartment Income REIT will report full year sales of $780.66 million for the current fiscal year, with estimates ranging from $765.03 million to $796.30 million. For the next fiscal year, analysts expect that the business will report sales of $823.51 million, with estimates ranging from $807.01 million to $840.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Apartment Income REIT.

A number of equities research analysts have recently weighed in on AIRC shares. Truist Financial lifted their price target on Apartment Income REIT from $56.00 to $59.00 in a report on Tuesday, January 18th. Mizuho cut their price target on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Zacks Investment Research cut Apartment Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Finally, Jefferies Financial Group raised Apartment Income REIT from a “hold” rating to a “buy” rating and lifted their price target for the company from $52.00 to $63.00 in a report on Monday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apartment Income REIT presently has an average rating of “Hold” and a consensus price target of $58.33.

In other Apartment Income REIT news, General Counsel Lisa R. Cohn sold 16,000 shares of Apartment Income REIT stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $52.29, for a total value of $836,640.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John D. Rayis purchased 500 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was acquired at an average price of $51.44 per share, for a total transaction of $25,720.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,258 shares of company stock worth $170,544 and have sold 41,500 shares worth $2,184,830. 1.06% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AIRC. Point72 Hong Kong Ltd purchased a new position in Apartment Income REIT during the 3rd quarter worth approximately $25,000. Covestor Ltd purchased a new position in Apartment Income REIT during the 4th quarter worth approximately $26,000. National Bank of Canada FI purchased a new position in Apartment Income REIT during the 4th quarter worth approximately $30,000. US Asset Management LLC purchased a new position in Apartment Income REIT during the 3rd quarter worth approximately $66,000. Finally, Meristem Family Wealth LLC purchased a new position in shares of Apartment Income REIT during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Shares of AIRC traded down $0.43 during mid-day trading on Friday, reaching $52.41. 599,879 shares of the company’s stock traded hands, compared to its average volume of 854,364. The business’s 50-day moving average price is $52.61 and its 200-day moving average price is $52.55. The stock has a market capitalization of $8.23 billion, a P/E ratio of 18.26 and a beta of 1.04. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.06 and a current ratio of 1.06. Apartment Income REIT has a 12 month low of $42.54 and a 12 month high of $55.53.

The company also recently announced a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Thursday, February 17th were issued a dividend of $0.45 per share. This is a boost from Apartment Income REIT’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 16th. This represents a $1.80 annualized dividend and a yield of 3.43%. Apartment Income REIT’s payout ratio is presently 62.72%.

About Apartment Income REIT (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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