Apartment Income REIT (AIRC) Set to Announce Earnings on Thursday

Apartment Income REIT (NYSE:AIRC) is scheduled to be releasing its earnings data after the market closes on Thursday, July 29th. Analysts expect Apartment Income REIT to post earnings of $0.50 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Apartment Income REIT (NYSE:AIRC) last posted its quarterly earnings results on Thursday, April 29th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. On average, analysts expect Apartment Income REIT to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

AIRC stock opened at $51.42 on Thursday. Apartment Income REIT has a 1-year low of $35.99 and a 1-year high of $51.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 3.27. The company has a market cap of $8.06 billion and a P/E ratio of 29.72. The business has a 50 day simple moving average of $48.23.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 14th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.72 annualized dividend and a yield of 3.35%. Apartment Income REIT’s payout ratio is 99.42%.

Several research firms have weighed in on AIRC. Zacks Investment Research upgraded Apartment Income REIT from a “sell” rating to a “hold” rating in a research note on Monday, April 19th. Mizuho upgraded Apartment Income REIT from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, June 3rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.78.

In related news, CFO Paul Beldin sold 1,422 shares of the firm’s stock in a transaction on Wednesday, June 16th. The stock was sold at an average price of $49.52, for a total value of $70,417.44. Following the completion of the sale, the chief financial officer now directly owns 63,404 shares in the company, valued at $3,139,766.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kathleen M. Nelson sold 2,435 shares of the firm’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $45.31, for a total value of $110,329.85. Following the completion of the sale, the director now owns 47,608 shares of the company’s stock, valued at $2,157,118.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,759 shares of company stock valued at $525,916.

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 99 communities in 12 states and the District of Columbia.

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