$165.54 Million in Sales Expected for Apartment Income REIT Corp. (NYSE:AIRC) This Quarter


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Brokerages predict that Apartment Income REIT Corp. (NYSE:AIRC) will report sales of $165.54 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Apartment Income REIT’s earnings. The highest sales estimate is $174.70 million and the lowest is $149.25 million. The company is scheduled to report its next earnings results on Wednesday, May 12th.

On average, analysts expect that Apartment Income REIT will report full-year sales of $679.59 million for the current fiscal year, with estimates ranging from $609.43 million to $730.70 million. For the next financial year, analysts anticipate that the business will report sales of $717.30 million, with estimates ranging from $635.37 million to $801.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Apartment Income REIT.

Apartment Income REIT (NYSE:AIRC) last announced its quarterly earnings results on Tuesday, February 9th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.50).

AIRC has been the topic of several research reports. Zacks Investment Research lowered Apartment Income REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, March 16th. Guggenheim assumed coverage on Apartment Income REIT in a research note on Friday, January 29th. They issued a “buy” rating and a $63.00 target price on the stock. Janney Montgomery Scott assumed coverage on Apartment Income REIT in a research note on Wednesday, January 6th. They issued a “buy” rating and a $40.00 target price on the stock. Jefferies Financial Group assumed coverage on Apartment Income REIT in a research note on Tuesday, January 12th. They issued a “hold” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on Apartment Income REIT in a research note on Thursday, January 7th. They issued a “neutral” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.89.

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

Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Apartment Income REIT in the fourth quarter valued at approximately $29,000. Bessemer Group Inc. acquired a new position in Apartment Income REIT in the fourth quarter valued at approximately $30,000. Global Wealth Management Investment Advisory Inc. acquired a new position in Apartment Income REIT in the fourth quarter valued at approximately $72,000. Capital Asset Advisory Services LLC acquired a new position in Apartment Income REIT in the fourth quarter valued at approximately $79,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Apartment Income REIT in the fourth quarter valued at approximately $98,000.

Shares of Apartment Income REIT stock traded up $0.11 during trading on Monday, hitting $42.89. 3,716 shares of the stock traded hands, compared to its average volume of 1,177,026. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.06. Apartment Income REIT has a 52-week low of $35.99 and a 52-week high of $45.89. The firm’s fifty day moving average is $42.99.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, February 11th.

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 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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