Apartment Income REIT Corp (NYSE:AIRC) has a beta value of 0.90 and has seen 26.05 million shares traded in the last trading session. The company, currently valued at $5.56B, closed the last trade at $38.38 per share which meant it gained $7.03 on the day or 22.42% during that session. The AIRC stock price is 2.66% off its 52-week high price of $37.36 and 26.47% above the 52-week low of $28.22. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.36 million shares traded. The 3-month trading volume is 1.17 million shares.
Apartment Income REIT Corp (NYSE:AIRC) trade information
Sporting 22.42% in the green in last session, the stock has traded in the green over the last five days, when the AIRC stock price touched $38.38 or saw a rise of 0.39%. Year-to-date, Apartment Income REIT Corp shares have moved 10.51%, while the 5-day performance has seen it change 20.77%. Over the past 30 days, the shares of Apartment Income REIT Corp (NYSE:AIRC) have changed 21.19%. Short interest in the company has seen 3.24 million shares shorted with days to cover at 2.6.
Apartment Income REIT Corp (AIRC) estimates and forecasts
Figures show that Apartment Income REIT Corp shares have underperformed across the wider relevant industry. The company’s shares have gained 26.04% over the past 6 months, with this year growth rate of -0.41%, compared to 1.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 100.00% and 200.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.70%.
5 analysts offering their estimates for the company have set an average revenue estimate of $198.44 million for the current quarter. 5 have an estimated revenue figure of $201.34 million for the next quarter concluding in Jun 2024. Year-ago sales stood $211.99 million and $214.56 million respectively for this quarter and the next, and analysts expect sales will shrink by -6.40% for the current quarter and -6.20% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -0.34% over the past 5 years.
AIRC Dividends
Apartment Income REIT Corp is expected to release its next earnings report in May this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.80 at a share yield of 4.69%. The company’s dividend yield has gone up over the past 12 months.
Apartment Income REIT Corp (NYSE:AIRC)’s Major holders
Insiders own 0.61% of the company shares, while shares held by institutions stand at 102.80% with a share float percentage of 103.43%. Investors are also buoyed by the number of investors in a company, with Apartment Income REIT Corp having a total of 440 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 21.7 million shares worth more than $783.08 million. As of Jun 29, 2023, Vanguard Group Inc held 14.54% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 17.09 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $616.81 million and represent 11.45% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. As of Jul 30, 2023, the former fund manager holds about 4.21% shares in the company for having 6.28 million shares of worth $216.96 million while later fund manager owns 4.72 million shares of worth $170.31 million as of Jun 29, 2023, which makes it owner of about 3.16% of company’s outstanding stock.
