Analysts Expect Apartment Income REIT Corp. (NYSE:AIRC) Will Announce Earnings of $0.49 Per Share

Equities research analysts forecast that Apartment Income REIT Corp. (NYSE:AIRC) will post $0.49 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Apartment Income REIT’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.48. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, April 29th.

According to Zacks, analysts expect that Apartment Income REIT will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.97 to $2.03. For the next year, analysts anticipate that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $2.03 to $2.17. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Apartment Income REIT.

Apartment Income REIT (NYSE:AIRC) last issued its earnings results on Tuesday, February 9th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.50).

A number of analysts have weighed in on AIRC shares. JPMorgan Chase & Co. started coverage on Apartment Income REIT in a research report on Thursday, December 31st. They issued a “neutral” rating and a $43.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Apartment Income REIT in a report on Tuesday, January 12th. They issued a “hold” rating and a $35.00 target price on the stock. Truist downgraded Apartment Income REIT from a “buy” rating to a “hold” rating and raised their price target for the company from $40.00 to $41.00 in a research report on Friday, January 22nd. Janney Montgomery Scott began coverage on Apartment Income REIT in a research report on Wednesday, January 6th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Mizuho increased their target price on Apartment Income REIT from $30.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, March 15th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.89.

AIRC stock opened at $45.70 on Wednesday. Apartment Income REIT has a 1 year low of $35.99 and a 1 year high of $45.89. The firm has a fifty day simple moving average of $43.35. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.60 and a quick ratio of 1.60.

The business also recently announced a quarterly dividend, which was paid on Friday, February 26th. Investors of record on Friday, February 12th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, February 11th.

In other news, CFO Paul Beldin sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief financial officer now owns 76,038 shares of the company’s stock, valued at $3,410,304.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Keith M. Kimmel sold 17,000 shares of the stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $41.88, for a total value of $711,960.00. Following the sale, the insider now directly owns 27,115 shares in the company, valued at approximately $1,135,576.20. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Apartment Income REIT in the 4th quarter valued at approximately $645,051,000. Principal Financial Group Inc. acquired a new position in shares of Apartment Income REIT during the fourth quarter worth $300,159,000. JPMorgan Chase & Co. acquired a new position in Apartment Income REIT during the 4th quarter worth about $223,206,000. Long Pond Capital LP bought a new position in shares of Apartment Income REIT during the fourth quarter worth about $186,139,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Apartment Income REIT during the 4th quarter valued at approximately $163,611,000.

Apartment Income REIT Company Profile

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 98 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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