Apartment Income REIT Corp (NYSE:AIRC) shares traded -0.39% lower at $38.65 on Wall Street last session.
AIRC stock price is now 7.32% away from the 50-day moving average and 16.62% away from the 200-day moving average. The market capitalization of the company currently stands at $5.61B.
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On February 28, 2024, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $31, while ‘Goldman’ rates the stock as ‘Neutral’
In other news, Bohjalian Thomas N, Director bought 750 shares of the company’s stock on Feb 23 ’24. The stock was bought for $23,250 at an average price of $31.00. Upon completion of the transaction, the Director now directly owns 20,750 shares in the company, valued at $0.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 14 ’24, Director Bohjalian Thomas N bought 889 shares of the business’s stock. A total of $28,004 was incurred on buying the stock at an average price of $31.50. This leaves the insider owning 20,000 shares of the company worth $0.77 million. A total of 0.33% of the company’s stock is owned by insiders.
During the past 12 months, Apartment Income REIT Corp has had a low of $28.22 and a high of $38.84. The fifty day moving average price for AIRC is $36.1506 and a two-hundred day moving average price translates $33.16155 for the stock.
The latest earnings results from Apartment Income REIT Corp (NYSE: AIRC) was released for 2024-03-31. According to the REIT – Residential Company, earnings per share came in at -0.01, missing analysts’ expectations of 0.02 by -0.03. This compares to -$0.08 EPS in the same period last year. The net profit margin was 79.23% and return on equity was 29.48% for AIRC. The company reported revenue of $195.62 million for the quarter, compared to $211.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.72 percent. For the current quarter, analysts expect AIRC to generate $200.6M in revenue.
