Zacks: Brokerages Expect Apartment Income REIT Corp. (NYSE:AIRC) Will Announce Quarterly Sales of $172.77 Million

Equities analysts predict that Apartment Income REIT Corp. (NYSE:AIRC) will report $172.77 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Apartment Income REIT’s earnings, with the highest sales estimate coming in at $179.16 million and the lowest estimate coming in at $165.06 million. Apartment Income REIT posted sales of $173.75 million during the same quarter last year, which suggests a negative year over year growth rate of 0.6%. The business is expected to report its next quarterly earnings results 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 fiscal year, with estimates ranging from $636.01 million to $720.60 million. For the next year, analysts expect that the firm will post sales of $723.31 million, with estimates ranging from $682.73 million to $756.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Apartment Income REIT.

Apartment Income REIT (NYSE:AIRC) last announced its quarterly earnings results on Thursday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.48). Apartment Income REIT had a negative return on equity of 3.63% and a negative net margin of 6.99%.

Several equities analysts have issued reports on AIRC shares. Zacks Investment Research raised shares of Apartment Income REIT from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, November 15th. Mizuho increased their target price on Apartment Income REIT from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, September 29th. The Goldman Sachs Group began coverage on Apartment Income REIT in a research note on Thursday, September 23rd. They set a “sell” rating and a $50.00 price objective on the stock. Truist Securities raised their price objective on Apartment Income REIT from $49.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 16th. Finally, Truist raised their price target on Apartment Income REIT from $49.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.27.

Several hedge funds have recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in shares of Apartment Income REIT by 0.7% in the 2nd quarter. Stifel Financial Corp now owns 30,287 shares of the company’s stock worth $1,436,000 after buying an additional 201 shares during the last quarter. Capital Square LLC boosted its position in Apartment Income REIT by 0.8% during the second quarter. Capital Square LLC now owns 29,798 shares of the company’s stock valued at $1,532,000 after buying an additional 244 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Apartment Income REIT by 12.9% during 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. Aurora Investment Managers LLC. boosted its holdings in shares of Apartment Income REIT by 0.8% during the third quarter. Aurora Investment Managers LLC. now owns 48,734 shares of the company’s stock worth $2,379,000 after purchasing an additional 386 shares during the period. Finally, Securian Asset Management Inc raised its stake in Apartment Income REIT by 2.9% in the second quarter. Securian Asset Management Inc now owns 14,413 shares of the company’s stock worth $684,000 after buying an additional 402 shares in the last quarter. 99.47% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AIRC traded up $0.58 during midday trading on Thursday, hitting $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 1 year low of $35.99 and a 1 year high of $54.55. The business’s fifty day simple moving average is $51.47 and its two-hundred day simple moving average is $50.07. 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 has a market capitalization of $8.34 billion and a price-to-earnings ratio of -115.54.

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 $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, November 10th. Apartment Income REIT’s dividend payout ratio is presently -382.61%.

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

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