Equities analysts expect that Apartment Income REIT Corp. (NYSE:AIRC) will post $172.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Apartment Income REIT’s earnings, with estimates ranging from $165.06 million to $179.16 million. Apartment Income REIT reported sales of $173.75 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The company is expected to issue its next earnings report on Wednesday, February 9th.
According to Zacks, analysts expect that Apartment Income REIT will report full year sales of $689.06 million for the current year, with estimates ranging from $636.01 million to $720.60 million. For the next year, analysts forecast that the firm will report sales of $723.31 million, with estimates ranging from $682.73 million to $756.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Apartment Income REIT.
Apartment Income REIT (NYSE:AIRC) last released its quarterly earnings results on Thursday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.48). Apartment Income REIT had a negative net margin of 6.99% and a negative return on equity of 3.63%.
Shares of NYSE AIRC traded up $0.58 during midday trading on Thursday, reaching $53.15. The company’s stock had a trading volume of 423,132 shares, compared to its average volume of 784,541. Apartment Income REIT has a 12-month low of $35.99 and a 12-month high of $54.55. The firm has a 50 day moving average price of $51.47 and a 200-day moving average price of $50.07. The stock has a market capitalization of $8.34 billion and a P/E ratio of -115.54. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.03 and a quick ratio of 1.03.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 30th. Shareholders of record on Friday, November 12th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $1.76 dividend on an annualized basis and a yield of 3.31%. Apartment Income REIT’s payout ratio is -382.61%.
A number of hedge funds have recently modified their holdings of AIRC. Point72 Hong Kong Ltd bought a new position in shares of Apartment Income REIT in the third quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Apartment Income REIT in the third quarter worth $36,000. US Asset Management LLC bought a new position in shares of Apartment Income REIT in the third quarter worth $66,000. Quadrant Capital Group LLC increased its holdings in shares of Apartment Income REIT by 12.9% in the second quarter. Quadrant Capital Group LLC now owns 2,325 shares of the company’s stock worth $110,000 after purchasing an additional 265 shares during the period. Finally, Creative Planning bought a new position in shares of Apartment Income REIT in the second quarter worth $138,000. 99.47% of the stock is currently owned by institutional investors and hedge funds.
About Apartment Income REIT
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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