The stock of Apartment Income REIT Corp. (NYSE:AIRC) increased by $0.18 on Friday to finish at $33.49, up 0.54 percent. The last five days have seen an average of 809,580 shares of common stock traded. 17 times new highs were reached in the current year, with a fall of -$0.82. The average number of shares traded over the last 20 days was 1,040,510, while the average volume over the last 50 days totaled 1,022,078.
AIRC stock dropped -2.65% since last month. On 08/21/23, the company’s shares reached a one-month low of $32.59. The stock touched a high of $43.83 on 02/14/23, after rallying from a low of $32.51 in 52 weeks. The price of AIRC stock has declined by -2.39% or -$0.82 this year, reaching a new high 17 times. Still, the stock price is down -23.59% from the 52-week high.
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Insider Transactions
AIRC stock investors should be aware that Apartment Income REIT Corp. (AIRC) stock had its last reported insider trading activity 159 days ago on Mar 22. On Mar 22, Director Murphy Devin Ignatius acquired 2,500 shares at $34.00 each. This transaction resulted in the insider spending $85,000. On Mar 17, Rayis John D added 1,000 shares at a price of US$34.48. After the transaction, the insider now owns 9,412 shares. President, Property Operations Kimmel Keith M had earlier sold 8,000 shares on Mar 15 for $35.75 a share. The transaction was completed for $285,990.
Valuation Metrics
Apartment Income REIT Corp. (AIRC) has a trailing price-to-earnings (P/E) ratio of 16.23. Beta for the stock is 0.87. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.95, the price-to-book (PB) ratio of 2.50.
Company paid $0.45 per share in dividends, remained unchanged from $0.45 last year. A $0.01 dividend increase was reported on Wednesday February 9 2022.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.84, and the total debt to equity ratio is 1.84. As far as profitability goes, gross margin for the trailing twelve months is 66.30% percent. Apartment Income REIT Corp.’s operating margin stood at 16.60% for the same period. Based on annual data, it had gross profit of $127.5 million and revenue of $773.72 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AIRC’s return on assets (ROA) during the last 12 months has been 4.80%. There was a 1.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 15.40%.
Earnings Surprise
According to Apartment Income REIT Corp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $214.56 million, while revenues rose by 14.48% to $211.99 million. It was predicted that Apartment Income REIT Corp.’s quarterly earnings would be -$0.01, but it ended up being $0.02. EBITDA was $134.01 million for the quarter. At the end of Apartment Income REIT Corp.’s most recent quarter ended June 29, its total debt was $3.69 billion. Equity owned by shareholders amounts to $149.22 million.
Technical Picture
Here’s a quick look at Apartment Income REIT Corp.’s (AIRC) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 43.57%, suggesting the stock is Neutral, with a 16.03% historical volatility rate.
The stochastic %K and %D were 33.13% and 24.18% respectively, while the average true range (ATR) was 0.60. Based on the 14-day stochastic reading of 37.34%, the RSI (14) reading is 41.47%. On the 9-day MACD Oscillator, the stock is at 0.17, and the 14-day reading is at -0.27.
Analyst Ratings
In its most recent analyst report, BMO Capital Markets raised its rating on Apartment Income REIT Corp. (NYSE: AIRC) to an Outperform. Prior to this, analysts firm rated the stock as a Market perform. Analysts have assigned Apartment Income REIT Corp. (AIRC) an Overweight rating. AIRC is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is AIRC’s price target for the next 12 months?
The current consensus forecast for the stock is between $37.00 and $42.00, with a median target price of $41.00. In analyzing these forecasts, the average price target given by analysts for Apartment Income REIT Corp. (AIRC) is $40.11.
