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Apartment Income REIT (NYSE:AIRC) Updates FY 2021 Earnings Guidance

Tuesday, May 4, 2021 | MarketBeat

Apartment Income REIT (NYSE:AIRC) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of 1.960-2.060 for the period. The company issued revenue guidance of -.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Apartment Income REIT from a sell rating to a hold rating in a report on Monday, April 19th. Janney Montgomery Scott assumed coverage on shares of Apartment Income REIT in a report on Wednesday, January 6th. They issued a buy rating and a $40.00 target price on the stock. Jefferies Financial Group started coverage on Apartment Income REIT in a report on Tuesday, January 12th. They set a hold rating and a $35.00 price target for the company. Citigroup assumed coverage on Apartment Income REIT in a research report on Friday, January 29th. They issued a neutral rating and a $40.00 price objective for the company. Finally, Mizuho raised their price target on Apartment Income REIT from $30.00 to $45.00 and gave the company a neutral rating in a report on Monday, March 15th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $42.89.

NYSE:AIRC opened at $44.60 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average price of $44.21. Apartment Income REIT has a 52 week low of $35.99 and a 52 week high of $46.98.

Apartment Income REIT (NYSE:AIRC) last issued its quarterly earnings results on Thursday, April 29th. The company reported $0.56 EPS for the quarter, topping the Zacks' consensus estimate of $0.49 by $0.07. Equities analysts forecast that Apartment Income REIT will post 2.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, May 13th. This represents a $1.72 dividend on an annualized basis and a yield of 3.86%.

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 value of $711,960.00. Following the completion of the sale, the insider now owns 27,115 shares of the company's stock, valued at approximately $1,135,576.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Beldin sold 7,500 shares of the business's stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief financial officer now owns 76,038 shares in the company, valued at $3,410,304.30. The disclosure for this sale can be found here.

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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