Apartment Income REIT Corp. (NYSE:AIRC) Given Average Recommendation of “Hold” by Analysts

Posted by on Aug 4th, 2022

Apartment Income REIT Corp. (NYSE:AIRC – Get Rating) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $49.50.

Several equities research analysts have issued reports on AIRC shares. BTIG Research started coverage on shares of Apartment Income REIT in a research report on Monday, May 9th. They issued a “neutral” rating for the company. Mizuho lowered their price target on shares of Apartment Income REIT from $59.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Jefferies Financial Group cut shares of Apartment Income REIT from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research report on Friday, July 22nd. Truist Financial lowered their price target on shares of Apartment Income REIT from $49.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, June 24th. Finally, Scotiabank lowered their price target on shares of Apartment Income REIT from $56.00 to $53.00 in a research report on Thursday, May 19th.

Apartment Income REIT Stock Performance

Apartment Income REIT stock opened at $43.59 on Thursday. The company’s 50-day moving average price is $42.40 and its 200-day moving average price is $48.10. Apartment Income REIT has a twelve month low of $39.06 and a twelve month high of $55.82. The company has a quick ratio of 1.06, a current ratio of 0.23 and a debt-to-equity ratio of 1.30. The company has a market cap of $6.85 billion, a PE ratio of 7.17 and a beta of 1.02.

Apartment Income REIT (NYSE:AIRC – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.22 by $1.04. Apartment Income REIT had a net margin of 127.20% and a return on equity of 47.81%. During the same quarter in the prior year, the business posted $0.52 EPS. On average, equities research analysts forecast that Apartment Income REIT will post 2.4 EPS for the current fiscal year.

Apartment Income REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, August 18th. This represents a $1.80 dividend on an annualized basis and a yield of 4.13%. Apartment Income REIT’s payout ratio is 29.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Covestor Ltd acquired a new stake in shares of Apartment Income REIT in the fourth quarter worth $26,000. National Bank of Canada FI acquired a new stake in shares of Apartment Income REIT in the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Apartment Income REIT in the first quarter worth $37,000. Meeder Asset Management Inc. acquired a new stake in shares of Apartment Income REIT in the first quarter worth $59,000. Finally, US Asset Management LLC acquired a new stake in shares of Apartment Income REIT in the first quarter worth $72,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Apartment Income REIT Company Profile

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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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Analyst Recommendations for Apartment Income REIT (NYSE:AIRC)

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