Apartment Income REIT (AIRC) to Release Earnings on Monday

Apartment Income REIT (NYSE:AIRCGet Rating) will announce its earnings results after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Shares of NYSE AIRC opened at $54.11 on Monday. 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 fifty-two week low of $42.96 and a fifty-two week high of $55.82. The firm has a market capitalization of $8.50 billion, a PE ratio of 18.85 and a beta of 1.04. The stock’s 50-day simple moving average is $52.75 and its 200-day simple moving average is $52.69.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 25th. Stockholders of record on Thursday, February 17th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Wednesday, February 16th. This is a positive change from Apartment Income REIT’s previous quarterly dividend of $0.44. Apartment Income REIT’s dividend payout ratio (DPR) is 62.72%.

In related news, General Counsel Lisa R. Cohn sold 16,000 shares of the firm’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $52.29, for a total value of $836,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Beldin sold 14,500 shares of the firm’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 disclosure for this sale can be found here. In the last 90 days, insiders bought 3,258 shares of company stock valued at $170,544 and sold 41,500 shares valued at $2,184,830. 1.06% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AIRC. Morgan Stanley lifted its stake in shares of Apartment Income REIT by 59.1% in the second quarter. Morgan Stanley now owns 563,816 shares of the company’s stock valued at $26,742,000 after purchasing an additional 209,486 shares during the period. Jane Street Group LLC acquired a new stake in shares of Apartment Income REIT in the third quarter valued at about $551,000. Cubist Systematic Strategies LLC lifted its stake in shares of Apartment Income REIT by 313.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 50,920 shares of the company’s stock valued at $2,784,000 after purchasing an additional 38,604 shares during the period. Millennium Management LLC lifted its stake in shares of Apartment Income REIT by 126.1% in the fourth quarter. Millennium Management LLC now owns 305,652 shares of the company’s stock valued at $16,710,000 after purchasing an additional 170,487 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of Apartment Income REIT by 1.4% in the fourth quarter. Stifel Financial Corp now owns 32,630 shares of the company’s stock valued at $1,784,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Several equities research analysts have recently weighed in on AIRC shares. Mizuho cut their target price on Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. Zacks Investment Research lowered shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, March 23rd. Jefferies Financial Group upgraded shares of Apartment Income REIT from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $63.00 in a research note on Monday, January 10th. Finally, Truist Financial increased their price target on shares of Apartment Income REIT from $56.00 to $59.00 in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.33.

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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