Apartment Income REIT Past Earnings Performance

Past criteria checks 1/6

Apartment Income REIT has been growing earnings at an average annual rate of 11%, while the Residential REITs industry saw earnings growing at 11% annually. Revenues have been declining at an average rate of 1.7% per year. Apartment Income REIT's return on equity is 26.2%, and it has net margins of 80.3%.

Key information

11.0%

Earnings growth rate

3.1%

EPS growth rate

Residential REITs Industry Growth	11.1%
Revenue growth rate	-1.7%
Return on equity	26.2%
Net Margin	80.3%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

Apartment Income REIT: Coastal And Sunbelt Exposure With Industry Leading Forward Growth, Gross Margins

Jun 12

Apartment Income REIT  FFO of $0.59 misses by $0.01, revenue of $207.87M beats by $5.56M

Feb 09

Apartment Income REIT: A Higher Yielding Multifamily Operator

Jan 24

3 Intriguing Bargains In Apartment REITs

Nov 10

Apartment Income REIT declares $0.45 dividend

Nov 01

Apartment Income REIT: High Yield With Low Risk

Sep 23

Apartment Income REIT  FFO of $0.66 in-line, revenue of $183.5M in-line

Jul 29

Apartment Income REIT: 4% Dividend And Inflation Hedge

Jul 15

Apartment Income REIT: An Undervalued REIT With An Excellent CEO

May 26

Apartment Income REIT Still Makes A Decent Buy For Conservative Dividend Investors

Apr 22

Revenue & Expenses Breakdown
Beta

How Apartment Income REIT makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:AIRC Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	790	634	25
30 Sep 23	819	980	24
30 Jun 23	833	318	26
31 Mar 23	802	516	26
31 Dec 22	770	904	25
30 Sep 22	757	947	23
30 Jun 22	748	955	21
31 Mar 22	743	740	21
31 Dec 21	740	447	19
30 Sep 21	720	-52	39
30 Jun 21	707	-89	41
31 Mar 21	710	-35	43
31 Dec 20	720	-116	46
30 Sep 20	632	125	40
30 Jun 20	684	155	43
31 Mar 20	726	178	47
31 Dec 19	771	447	50
30 Sep 19	917	338	41
30 Jun 19	929	903	42
31 Mar 19	955	847	45
31 Dec 18	839	636	50
30 Sep 18	991	913	49
30 Jun 18	1,000	364	48
31 Mar 18	996	377	44
31 Dec 17	1,013	307	44
30 Sep 17	988	207	43
30 Jun 17	980	201	44
31 Mar 17	977	406	46
31 Dec 16	975	418	47
30 Sep 16	968	322	45
30 Jun 16	964	330	44
31 Mar 16	960	170	44
31 Dec 15	957	236	46
30 Sep 15	951	206	47
30 Jun 15	950	311	46
31 Mar 15	951	325	44
31 Dec 14	953	300	44
30 Sep 14	958	264	43
30 Jun 14	955	134	43
31 Mar 14	949	64	44
31 Dec 13	939	0	46
30 Sep 13	900	-24	46
30 Jun 13	905	-41	47

Quality Earnings: AIRC has a large one-off gain of $675.7M impacting its last 12 months of financial results to 31st December, 2023.

Growing Profit Margin: AIRC's current net profit margins (80.3%) are lower than last year .

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: AIRC's earnings have grown by 11% per year over the past 5 years.

Accelerating Growth: AIRC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AIRC had negative earnings growth (-29.8%) over the past year, making it difficult to compare to the Residential REITs industry average (-0.6%).

Return on Equity

High ROE: Whilst AIRC's Return on Equity (26.23%) is high, this metric is skewed due to their high level of debt.

Return on Assets

Return on Capital Employed

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Apartment Income REIT Past Earnings Performance

Past criteria checks 1/6

Key information

Recent past performance updates

Full year 2023 earnings: EPS misses analyst expectations

Apartment Income REIT Corp. to Report Q4, 2023 Results on Feb 08, 2024

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Apartment Income REIT Corp. to Report Q3, 2023 Results on Nov 02, 2023

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Recent updates

Blackstone Real Estate Partners X L.P., managed by Blackstone Real Estate Advisors L.P. entered into a definitive agreement to acquire Apartment Income REIT Corp. (NYSE:AIRC) for approximately $5.7 billion.

Blackstone Real Estate Partners X L.P., managed by Blackstone Real Estate Advisors L.P. entered into a definitive agreement to acquire Apartment Income REIT Corp. (NYSE:AIRC) for approximately $7.6 billion.

Blackstone's Acquisition Of Apartment Income REIT Is Likely Priced In

Investor sentiment improves as stock rises 21%

Blackstone Real Estate Partners X L.P., managed by Blackstone Real Estate Advisors L.P. entered into a definitive agreement to acquire Apartment Income REIT Corp. (NYSE:AIRC) for $6 billion.

Consensus EPS estimates increase by 12%

Apartment Income REIT Corp., Annual General Meeting, Jun 14, 2024

Consensus EPS estimates fall by 42%

Apartment Income REIT: Overlooked And Undervalued 5.7% Yielder

Full year 2023 earnings: EPS misses analyst expectations

Upcoming dividend of US$0.45 per share at 5.6% yield

Third quarter dividend of US$0.45 announced

Apartment Income REIT Corp. Declares Cash Dividend for the Quarter Ended December 31, 2023, Payable on February 27, 2024

Apartment Income REIT Corp. to Report Q4, 2023 Results on Feb 08, 2024

Apartment Income REIT: Outperforming, Strong Growth, 5%-Plus Yield

Consensus EPS estimates increase by 1,613%, revenue downgraded

Consensus EPS estimates increase by 2,110%, revenue downgraded

Upcoming dividend of US$0.45 per share at 6.1% yield

Apartment Income REIT Corp. Provides Earnings Guidance for the Full Year 2023

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Apartment Income REIT Corp. Declares Quarterly Cash Dividend for the Quarter Ended September 30, 2023, Payable on November 30, 2023

Apartment Income REIT: Quality Business Model, Sluggish Valuation

Apartment Income REIT Corp. to Report Q3, 2023 Results on Nov 02, 2023

Consensus EPS estimates have been upgraded.

Apartment Income REIT Corp. (NYSE:AIRC) and an unknown buyer acquired The Elm in Bethesda from Columbia Equity Trust, Inc. for $250 million.

Apartment Income REIT: A Good Pick In An Attractive Sector

Apartment Income REIT: Cause For Pause

Upcoming dividend of US$0.45 per share at 5.2% yield

Apartment Income REIT Corp. and AIR-GP, Inc. Announce Management Changes

An unknown Developer acquired Two Properties With 62 Apartment Homes in New York from Apartment Income REIT Corp. (NYSE:AIRC) for $33.2 million

Apartment Income Reit Corp. Declares Quarterly Cash Dividend, Payable on August 29, 2023

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

An unknown buyer acquired Two Properties With 62 Apartment Homes from Apartment Income REIT Corp. (NYSE:AIRC) for $33.2 million.

Apartment Income REIT: Coastal And Sunbelt Exposure With Industry Leading Forward Growth, Gross Margins

Apartment Income REIT Corp., Annual General Meeting, Sep 15, 2023

Consensus EPS estimates upgraded to US$0.057 loss

Upcoming dividend of US$0.45 per share at 5.0% yield

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

President of Property Operations recently sold US$286k worth of stock

President of Property Operations notifies of intention to sell stock

Consensus EPS estimates increase by 34%

Consensus EPS estimates fall by 85%

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Apartment Income REIT&nbsp; FFO of $0.59 misses by $0.01, revenue of $207.87M beats by $5.56M

Upcoming dividend of US$0.45 per share at 4.6% yield

Apartment Income REIT Corp. Announces Cash Dividend for the Quarter Ended December 31, 2022, Payable on February 28, 2023

Apartment Income REIT: A Higher Yielding Multifamily Operator

Apartment Income REIT Corp. to Report Q4, 2022 Results on Feb 09, 2023

An unknown buyer acquired New England portfolio of six communities with 1,314 apartment units from Apartment Income REIT Corp. (NYSE:AIRC) for $500 million.

An Unknown buyer acquired New England portfolio of six communities with 1,314 apartment units from Apartment Income REIT Corp. (NYSE:AIRC) for $500 million.

High number of new directors

3 Intriguing Bargains In Apartment REITs

Upcoming dividend of US$0.45 per share

Apartment Income REIT Corp. (NYSE:AIRC) acquired The District at Flagler Village approximately $170 million.

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Apartment Income REIT Corp. Re-Affirms Earnings Guidance for the Full Year 2022

Apartment Income REIT Corp. Announces Common Dividend for the Quarter Ended September 30, 2022, Payable on November 30, 2022

Apartment Income REIT declares $0.45 dividend

Apartment Income REIT Corp., Annual General Meeting, Dec 07, 2022

Apartment Income REIT Corp. to Report Q3, 2022 Results on Nov 03, 2022

Apartment Income REIT: High Yield With Low Risk

Upcoming dividend of US$0.45 per share

Consensus forecasts updated

Consensus forecasts updated

Second quarter 2022 earnings: EPS exceeds analyst expectations

Apartment Income REIT Corp. Revises Earnings Guidance for the Year 2022

Apartment Income REIT&nbsp; FFO of $0.66 in-line, revenue of $183.5M in-line

Apartment Income REIT Corp. Announces Quarterly Common Dividend, Payable on August 30, 2022

Apartment Income REIT: 4% Dividend And Inflation Hedge

Apartment Income REIT FFO of $0.59 misses by $0.01, revenue of $207.87M beats by $5.56M

Apartment Income REIT FFO of $0.66 in-line, revenue of $183.5M in-line

Revenue & Expenses Breakdown
Beta