In last trading session, Apartment Income REIT Corp (NYSE:AIRC) saw 8.16 million shares changing hands with its beta currently measuring 0.84. Company’s recent per share price level of $38.42 trading at $0.04 or 0.10% at ring of the bell on the day assigns it a market valuation of $5.57B. That closing price of AIRC’s stock is at a discount of -0.68% from its 52-week high price of $38.68 and is indicating a premium of 26.55% from its 52-week low price of $28.22. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.42 million shares which gives us an average trading volume of 1.93 million if we extend that period to 3-months.
Apartment Income REIT Corp (NYSE:AIRC) trade information
Upright in the green during last session for gaining 0.10%, in the last five days AIRC remained trading in the green while hitting it’s week-highest on Tuesday, 04/09/24 when the stock touched $38.42 price level, adding 0.67% to its value on the day. Apartment Income REIT Corp’s shares saw a change of 10.62% in year-to-date performance and have moved 22.08% in past 5-day. Apartment Income REIT Corp (NYSE:AIRC) showed a performance of 20.74% in past 30-days. Number of shares sold short was 3.24 million shares which calculate 2.6 days to cover the short interests.
Apartment Income REIT Corp (AIRC) estimates and forecasts
Statistics highlight that Apartment Income REIT Corp is scoring comparatively lower than the scores of other players of the relevant industry. The company added 23.98% of value to its shares in past 6 months, showing an annual growth rate of -0.83% while that of industry is 0.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 100.00% in the current quarter and calculating 200.00% increase in the next quarter. This year revenue growth is estimated to fall -2.90% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $198.08 million for the same. And 5 analysts are in estimates of company making revenue of $200.82 million in the next quarter that will end on Jun 2024. Company posted $211.99 million and $214.56 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -6.60% while estimating it to be -6.40% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -0.34% during past 5 years.
AIRC Dividends
Apartment Income REIT Corp is more likely to be releasing its next quarterly report in May and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Apartment Income REIT Corp (NYSE:AIRC)’s Major holders
Insiders are in possession of 0.61% of company’s total shares while institution are holding 102.80 percent of that, with stock having share float percentage of 103.43%. Investors also watch the number of corporate investors in a company very closely, which is 102.80% institutions for Apartment Income REIT Corp that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at AIRC for having 21.7 million shares of worth $783.08 million. And as of Jun 29, 2023, it was holding 14.54% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 17.09 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 11.45% of outstanding shares, having a total worth of $616.81 million.
On the other hand, Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 6.28 million shares of worth $216.96 million or 4.21% of the total outstanding shares. The later fund manager was in possession of 4.72 million shares on Jun 29, 2023, making its stake of worth around $170.31 million in the company or a holder of 3.16% of company’s stock.
