Apartment Income REIT Corp.

NYSE:AIRC Stock Report

Market Cap: US$6.2b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Apartment Income REIT Past Earnings Performance

Past criteria checks 4/6

Apartment Income REIT has been growing earnings at an average annual rate of 14.8%, while the Residential REITs industry saw earnings growing at 17.3% annually. Revenues have been declining at an average rate of 1.3% per year. Apartment Income REIT's return on equity is 27.3%, and it has net margins of 83.2%.

Key information

14.8%

Earnings growth rate

7.7%

EPS growth rate

Residential REITs Industry Growth11.1%
Revenue growth rate-1.3%
Return on equity27.3%
Net Margin83.2%
Last Earnings Update31 Mar 2024

Recent past performance updates

Recent updates

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

Apr 09

Apartment Income REIT: Overlooked And Undervalued 5.7% Yielder

Feb 12

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

Dec 24

Apartment Income REIT: Quality Business Model, Sluggish Valuation

Oct 23

Apartment Income REIT: A Good Pick In An Attractive Sector

Sep 01

Apartment Income REIT: Cause For Pause

Aug 24

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

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)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 24768639290
31 Dec 23790634250
30 Sep 23819980240
30 Jun 23833318260
31 Mar 23802516260
31 Dec 22770904250
30 Sep 22757947230
30 Jun 22748955210
31 Mar 22743740210
31 Dec 21740447190
30 Sep 21720-52390
30 Jun 21707-89410
31 Mar 21710-35430
31 Dec 20720-116460
30 Sep 20632125400
30 Jun 20684155430
31 Mar 20726178470
31 Dec 19771447500
30 Sep 19917338410
30 Jun 19929903420
31 Mar 19955847450
31 Dec 18839636500
30 Sep 18991913490
30 Jun 181,000364480
31 Mar 18996377440
31 Dec 171,013307440
30 Sep 17988207430
30 Jun 17980201440
31 Mar 17977406460
31 Dec 16975418470
30 Sep 16968322450
30 Jun 16964330440
31 Mar 16960170440
31 Dec 15957236460
30 Sep 15951206470
30 Jun 15950311460
31 Mar 15951325440
31 Dec 14953300440
30 Sep 14958264430
30 Jun 14955134430
31 Mar 1494964440
31 Dec 139390460
30 Sep 13900-24460
30 Jun 13905-41470

Quality Earnings: AIRC has a large one-off gain of $677.7M impacting its last 12 months of financial results to 31st March, 2024.

Growing Profit Margin: AIRC's current net profit margins (83.2%) are higher than last year (64.4%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: AIRC's earnings have grown by 14.8% per year over the past 5 years.

Accelerating Growth: AIRC's earnings growth over the past year (23.8%) exceeds its 5-year average (14.8% per year).

Earnings vs Industry: AIRC earnings growth over the past year (23.8%) exceeded the Residential REITs industry 7.5%.

Return on Equity

High ROE: Whilst AIRC's Return on Equity (27.3%) is high, this metric is skewed due to their high level of debt.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/06/28 08:03
End of Day Share Price 2024/06/28 00:00
Earnings2024/03/31
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Apartment Income REIT Corp. is covered by 30 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullArgus Research Company
Andrew BabinBaird
Ross SmotrichBarclays