As of Wednesday close, Apartment Income REIT Corp.’s (NYSE:AIRC) stock was down -$0.48, moving down -1.42 percent to $33.28. The average number of shares traded per day over the past five days has been 1,095,620 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.13 fall in that time frame. In the last twenty days, the average volume was 1,222,100, while in the previous 50 days, it was 1,039,572.
Since last month, AIRC stock retreated -6.33%. Shares of the company fell to $33.18 on 08/16/23, the lowest level in the past month. A 52-week high of $46.38 was reached on 02/14/23 after having rallying from a 52-week low of $32.51. Since the beginning of this year, AIRC’s stock price has dropped by -3.00% or -$1.03, and marked a new high 17 times. However, the stock has declined by -28.24% since its 52-week high.
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AIRC stock investors should be aware that Apartment Income REIT Corp. (AIRC) stock had its last reported insider trading activity 148 days ago on Mar 22. Murphy Devin Ignatius, the Director of the company, purchased of 2,500 shares for $34.00 on Mar 22. It resulted in a $85,000 investment by the insider. Rayis John D added 1,000 shares at an average price of $34.48 on Mar 17. The insider now owns 9,412 shares following the transaction. On Mar 15, President, Property Operations Kimmel Keith M sold 8,000 shares at $35.75 apiece. The transaction was valued at $285,990.
Valuation Metrics
Right now, Apartment Income REIT Corp. (AIRC) has a P/E ratio of about 16.13. The stock’s beta is 0.87. Besides these, the trailing price-to-sales (P/S) ratio of 5.90, the price-to-book (PB) ratio of 2.48.
The latest dividend of $0.45 per share was paid out, remained unchanged from last year’s $0.45. On Wednesday February 9 2022, a $0.01 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.84, and the total debt-to-equity ratio was 1.84. On the profitability front, the trailing twelve-month gross margin is 66.30% percent. In the year ended June 29, operating margins totaled 16.60%. Based on annual data, AIRC earned $127.5 million in gross profit and brought in $773.72 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.70%. Return on equity (ROE) for the past 12 months was 15.40%.
In Apartment Income REIT Corp.’s quarter-end financial report for June 29, it reported total debt of $3.68 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AIRC’s revenue rose 14.48% to $211.99 million during the quarter, while net income inched up to $214.56 million. While analysts expected Apartment Income REIT Corp. to report $0.02 quarterly earnings, the actual figure was -$0.01 per share. During the quarter, the company generated $134.01 million in EBITDA. The value of shareholders’ equity is $149.22 million.
Technical Picture
This quick technical analysis looks at Apartment Income REIT Corp.’s (AIRC) price momentum. With a historical volatility rate of 17.54%, the RSI 9-day stood at 28.07% on 16 August.
With respect to its five-day moving average, the current Apartment Income REIT Corp. price is down by -3.28% percent or -$1.13. At present, AIRC shares trade -7.66% below its 20-day simple moving average and +1.46% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.80% below its SMA50 and -10.99% below its SMA200.
Stochastic coefficient K was 11.95% and Stochastic coefficient D was 21.89%, while ATR was 0.67. Given the Stochastic reading of 5.15% for the 14-day period, the RSI (14) reading has been calculated as 33.34%. As of today, the MACD Oscillator reading stands at -0.53, while the 14-day reading stands at -0.56.
Analyst Ratings
BMO Capital Markets upgraded its rating on Apartment Income REIT Corp. (NYSE: AIRC) to an Outperform in a note to investors on July 18, 2023. The analysts firm previously had a Market perform rating on the stock.Apartment Income REIT Corp. (AIRC) has been rated Overweight by analysts. According to 0 brokerage firms, AIRC is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Apartment Income REIT Corp. stock as buy, with 5 recommending it as overweight.
With a median target price of $41.00, the current consensus forecast for the stock is $37.00 – $42.00. Based on these forecasts, analysts predict Apartment Income REIT Corp. (AIRC) will achieve an average price target of $40.11.
