Research Analysts Offer Predictions for Apartment Income REIT Corp.’s Q1 2024 Earnings (NYSE:AIRC)

Apartment Income REIT Corp. (NYSE:AIRCFree Report) – Research analysts at Wedbush issued their Q1 2024 EPS estimates for Apartment Income REIT in a report released on Monday, February 12th. Wedbush analyst R. Anderson expects that the company will earn $0.58 per share for the quarter. The consensus estimate for Apartment Income REIT’s current full-year earnings is $2.38 per share. Wedbush also issued estimates for Apartment Income REIT’s Q2 2024 earnings at $0.60 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.62 EPS and FY2025 earnings at $2.51 EPS.

AIRC has been the topic of a number of other reports. Raymond James assumed coverage on shares of Apartment Income REIT in a report on Tuesday, October 24th. They issued an “outperform” rating and a $37.00 price target on the stock. TheStreet upgraded shares of Apartment Income REIT from a “d+” rating to a “c” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.67.

Read Our Latest Stock Analysis on Apartment Income REIT

Apartment Income REIT Trading Up 0.8 %

NYSE AIRC opened at $31.63 on Tuesday. The company’s 50-day moving average price is $33.73 and its 200-day moving average price is $32.46. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 1.10. The stock has a market cap of $4.65 billion, a PE ratio of 7.48 and a beta of 0.94. Apartment Income REIT has a 12 month low of $28.22 and a 12 month high of $40.28.

Apartment Income REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date is Thursday, February 15th. Apartment Income REIT’s dividend payout ratio (DPR) is presently 42.55%.

Institutional Trading of Apartment Income REIT

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Apartment Income REIT by 0.5% during the first 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. JPMorgan Chase & Co. lifted its position in shares of Apartment Income REIT by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 13,572,680 shares of the company’s stock valued at $416,681,000 after buying an additional 1,470,804 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Apartment Income REIT by 2.4% during the third quarter. Principal Financial Group Inc. now owns 9,131,443 shares of the company’s stock valued at $280,334,000 after buying an additional 213,160 shares during the last quarter. State Street Corp lifted its position in shares of Apartment Income REIT by 13.8% during the first 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. Finally, FMR LLC lifted its position in shares of Apartment Income REIT by 7.7% during the third quarter. FMR LLC now owns 5,758,309 shares of the company’s stock valued at $176,780,000 after buying an additional 411,299 shares during the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

Apartment Income REIT Company Profile

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Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 75 communities totaling 26,623 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management.

Further Reading

Earnings History and Estimates for Apartment Income REIT (NYSE:AIRC)

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