Apartment Income REIT Corp. (NYSE:AIRC) to Post Q1 2023 Earnings of $0.61 Per Share, Jefferies Financial Group Forecasts

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) – Stock analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share estimates for shares of Apartment Income REIT in a research report issued to clients and investors on Wednesday, May 11th. Jefferies Financial Group analyst J. Petersen now expects that the company will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.60. Jefferies Financial Group also issued estimates for Apartment Income REIT’s Q2 2023 earnings at $0.61 EPS, Q3 2023 earnings at $0.62 EPS, FY2023 earnings at $2.48 EPS, Q1 2024 earnings at $0.64 EPS and FY2024 earnings at $2.60 EPS.

Apartment Income REIT (NYSE:AIRCGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.79). Apartment Income REIT had a net margin of 99.27% and a return on equity of 40.71%. During the same quarter last year, the business posted $0.50 EPS.

AIRC has been the topic of a number of other research reports. Mizuho cut their price objective on shares of Apartment Income REIT from $62.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, February 16th. BTIG Research started coverage on shares of Apartment Income REIT in a research note on Monday, May 9th. They issued a “neutral” rating on the stock. Truist Financial increased their price target on shares of Apartment Income REIT from $56.00 to $59.00 in a report on Tuesday, January 18th. Finally, Zacks Investment Research downgraded shares of Apartment Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $58.33.

NYSE:AIRC opened at $44.15 on Monday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 9.39 and a beta of 1.05. Apartment Income REIT has a 1-year low of $42.31 and a 1-year high of $55.82. The company’s fifty day moving average price is $51.42 and its 200-day moving average price is $52.32. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.08%. The ex-dividend date is Thursday, May 19th. Apartment Income REIT’s payout ratio is 38.30%.

In other Apartment Income REIT news, insider Keith M. Kimmel sold 11,000 shares of the stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $52.91, for a total transaction of $582,010.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Sperling acquired 758 shares of the firm’s stock in a transaction on Wednesday, February 16th. The shares were bought at an average cost of $52.67 per share, for a total transaction of $39,923.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 5,349 shares of company stock worth $267,300. Insiders own 1.06% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Wexford Capital LP purchased a new position in shares of Apartment Income REIT in the first quarter worth about $411,000. Centaurus Financial Inc. acquired a new stake in Apartment Income REIT during the first quarter worth about $344,000. Renaissance Technologies LLC increased its position in Apartment Income REIT by 8.2% during the first quarter. Renaissance Technologies LLC now owns 773,500 shares of the company’s stock worth $41,351,000 after purchasing an additional 58,667 shares during the last quarter. Verition Fund Management LLC increased its position in Apartment Income REIT by 54.6% during the first quarter. Verition Fund Management LLC now owns 20,416 shares of the company’s stock worth $1,091,000 after purchasing an additional 7,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Apartment Income REIT by 19.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,871,369 shares of the company’s stock worth $100,044,000 after purchasing an additional 309,508 shares during the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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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