Apartment Income REIT Corp. (NYSE:AIRC) Receives Average Recommendation of “Hold” from Analysts

Apartment Income REIT Corp. (NYSE:AIRCGet Rating) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $57.33.

Several analysts recently commented on AIRC shares. Zacks Investment Research cut Apartment Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Mizuho reduced their target price 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. BTIG Research started coverage on Apartment Income REIT in a report on Monday, May 9th. They issued a “neutral” rating on the stock. Finally, Scotiabank reduced their target price on Apartment Income REIT from $56.00 to $53.00 in a report on Thursday.

NYSE:AIRC opened at $43.17 on Friday. The stock has a market cap of $6.78 billion, a P/E ratio of 9.19 and a beta of 1.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The stock’s 50-day moving average is $50.73 and its 200-day moving average is $52.07. Apartment Income REIT has a 1-year low of $42.31 and a 1-year high of $55.82.

Apartment Income REIT (NYSE:AIRCGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.79). Apartment Income REIT had a return on equity of 40.71% and a net margin of 99.27%. During the same period in the prior year, the firm earned $0.50 EPS. As a group, equities analysts forecast that Apartment Income REIT will post 2.43 EPS for the current year.

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, May 19th. Apartment Income REIT’s payout ratio is 38.30%.

In other news, CFO Paul Beldin sold 14,500 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The stock was 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 this hyperlink. Also, Director John D. Rayis bought 1,000 shares of the stock in a transaction dated Thursday, May 5th. The shares were purchased at an average cost of $46.80 per share, for a total transaction of $46,800.00. Following the completion of the transaction, the director now directly owns 8,412 shares of the company’s stock, valued at $393,681.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,091 shares of company stock worth $201,656 over the last 90 days. Company insiders own 1.06% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cohen & Steers Inc. raised its position in Apartment Income REIT by 8.3% in the 3rd quarter. Cohen & Steers Inc. now owns 26,851,923 shares of the company’s stock valued at $1,310,743,000 after buying an additional 2,064,781 shares during the last quarter. Vanguard Group Inc. raised its position in Apartment Income REIT by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 22,913,074 shares of the company’s stock valued at $1,224,933,000 after buying an additional 119,016 shares during the last quarter. BlackRock Inc. raised its position in Apartment Income REIT by 4.6% in the 4th quarter. BlackRock Inc. now owns 18,252,479 shares of the company’s stock valued at $997,863,000 after buying an additional 799,670 shares during the last quarter. Principal Financial Group Inc. raised its position in Apartment Income REIT by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,585,979 shares of the company’s stock valued at $459,006,000 after buying an additional 273,099 shares during the last quarter. Finally, State Street Corp raised its position in Apartment Income REIT by 13.8% in the 1st quarter. State Street Corp now owns 8,563,449 shares of the company’s stock valued at $457,802,000 after buying an additional 1,041,150 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Apartment Income REIT (NYSE:AIRC)

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