Fintel reports that on August 21, 2023, JP Morgan maintained coverage of Apartment Income REIT Corp - (NYSE:AIRC) with a Neutral recommendation.
Analyst Price Forecast Suggests 25.63% Upside
As of August 2, 2023, the average one-year price target for Apartment Income REIT Corp - is 41.18. The forecasts range from a low of 38.38 to a high of $44.10. The average price target represents an increase of 25.63% from its latest reported closing price of 32.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apartment Income REIT Corp - is 843MM, an increase of 1.18%. The projected annual non-GAAP EPS is 0.46.
Apartment Income REIT Corp - Declares $0.45 Dividend
On July 25, 2023 the company declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Shareholders of record as of August 18, 2023 will receive the payment on August 29, 2023. Previously, the company paid $0.45 per share.
At the current share price of $32.78 / share, the stock's dividend yield is 5.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.15%, the lowest has been 3.22%, and the highest has been 5.49%. The standard deviation of yields is 0.69 (n=117).
The current dividend yield is 1.94 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.84. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.11%.
What is the Fund Sentiment?
There are 739 funds or institutions reporting positions in Apartment Income REIT Corp -. This is an increase of 1 owner(s) or 0.14% in the last quarter. Average portfolio weight of all funds dedicated to AIRC is 0.31%, an increase of 1.88%. Total shares owned by institutions increased in the last three months by 2.53% to 175,994K shares. 
The put/call ratio of AIRC is 1.24, indicating a bearish outlook.
What are Other Shareholders Doing?
Cohen & Steers holds 14,302K shares representing 9.58% ownership of the company. In it's prior filing, the firm reported owning 17,527K shares, representing a decrease of 22.55%. The firm decreased its portfolio allocation in AIRC by 19.80% over the last quarter.
Jpmorgan Chase holds 12,102K shares representing 8.11% ownership of the company. In it's prior filing, the firm reported owning 6,809K shares, representing an increase of 43.73%. The firm decreased its portfolio allocation in AIRC by 80.66% over the last quarter.
Principal Financial Group holds 8,918K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 8,410K shares, representing an increase of 5.70%. The firm decreased its portfolio allocation in AIRC by 43.84% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 6,589K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 6,877K shares, representing a decrease of 4.37%. The firm increased its portfolio allocation in AIRC by 2.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,666K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 4,605K shares, representing an increase of 1.31%. The firm decreased its portfolio allocation in AIRC by 2.35% over the last quarter.
Apartment Income REIT Background Information
(This description is provided by the company.)
Apartment Income REIT Corp. (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 98 communities in 12 states and the District of Columbia. AIR common shares are traded on the New York Stock Exchange under the ticker symbol AIRC, and are included in the S&P 400.
Additional reading:
- June 30, 2023
- 0 The most efficient and most effective way to allocate capital to multi-family real estate Investor Presentation June 2023 Southgate Towers Miami, FL Ocean House, 707 Leahy, and One Ardmore Place were recognized in Q1 2023 as Top 100 Multifamily Pro
- AIR Communities Announces two Joint Ventures with a Value of $1.2 Billion; Proceeds to be used to Reduce Indebtedness and Fund Accretive Acquisitions
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