Stock AIRC APARTMENT INCOME REIT CORP.
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Financials Apartment Income REIT Corp.

Equities

AIRC

US03750L1098

Residential REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
38.41 USD -0.13% Intraday chart for Apartment Income REIT Corp. +0.08% +10.60%
Apr. 12 North American Morning Briefing : Big Banks Kick -2- DJ
Apr. 11 Wedbush Downgrades Apartment Income REIT to Neutral From Outperform, Lifts Price Target to $39 From $35 Amid Blackstone Deal MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,718 8,582 5,144 5,105 5,566 - -
Enterprise Value (EV) 1 9,651 12,258 8,690 8,237 8,829 9,012 9,198
P/E ratio -45.2 x 18.9 x 5.91 x 8.13 x 226 x 154 x 107 x
Yield 1.12% 3.22% 5.25% 5.18% 4.74% 4.84% 4.99%
Capitalization / Revenue 7.95 x 11.6 x 6.65 x 6.23 x 6.99 x 6.76 x 6.45 x
EV / Revenue 13.4 x 16.5 x 11.2 x 10 x 11.1 x 11 x 10.7 x
EV / EBITDA 22.1 x 28.7 x 18.2 x 16.7 x 17.4 x 17.3 x 17.8 x
EV / FCF - 80 x - - 40.2 x 39 x 38.6 x
FCF Yield - 1.25% - - 2.49% 2.57% 2.59%
Price to Book - - - - - - -
Nbr of stocks (in thousands) 148,866 156,985 149,928 146,993 144,917 - -
Reference price 2 38.41 54.67 34.31 34.73 38.41 38.41 38.41
Announcement Date 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 914.3 719.6 740.9 773.7 820 796.4 822.8 862.3
EBITDA 1 536.9 436.2 426.9 478.4 492.8 506.1 520.7 517.7
EBIT 1 156.8 115.2 107.2 127.5 150.2 163.4 177.1 188.1
Operating Margin 17.15% 16.02% 14.47% 16.48% 18.32% 20.52% 21.52% 21.81%
Earnings before Tax (EBT) 1 504.9 -19.14 474 - 691.7 37.5 40.08 48.54
Net income 1 466.1 -104.3 447.1 903.6 634.4 19.23 25.8 38.49
Net margin 50.98% -14.5% 60.35% 116.79% 77.37% 2.41% 3.14% 4.46%
EPS 2 - -0.8500 2.890 5.810 4.270 0.1700 0.2500 0.3600
Free Cash Flow 1 -18.99 - 153.3 - - 219.5 231.2 238.5
FCF margin -2.08% - 20.69% - - 27.56% 28.1% 27.66%
FCF Conversion (EBITDA) - - 35.9% - - 43.38% 44.4% 46.07%
FCF Conversion (Net income) - - 34.28% - - 1,141.44% 896.22% 619.78%
Dividend per Share 2 - 0.4300 1.760 1.800 1.800 1.822 1.860 1.915
Announcement Date 1/30/20 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 191.8 194.3 181.5 183.5 200.9 207.9 212 214.6 197.3 196.4 197.8 200.3 199 200.8 205.2
EBITDA 1 108.2 108.4 107.6 140 117 136.3 123.6 134 117.6 115.9 123.5 132.4 132.1 131 124.5
EBIT 1 27.04 20.89 23.08 37.93 26.57 - 27.9 - - 37.24 34.46 37.84 42.04 50.43 40.82
Operating Margin 14.1% 10.75% 12.72% 20.67% 13.23% - 13.16% - - 18.97% 17.42% 18.89% 21.12% 25.11% 19.89%
Earnings before Tax (EBT) 1 10.4 393.1 400.8 213.2 3.442 356.6 -9.809 1.775 715.1 -15.36 4.908 7.412 9.247 15.94 9.044
Net income 1 9.289 372.7 375.9 196.7 1.76 329.3 -11.46 -1.439 663.6 -16.26 0.5466 7.773 6.199 4.712 3.531
Net margin 4.84% 191.77% 207.12% 107.21% 0.88% 158.4% -5.4% -0.67% 336.33% -8.28% 0.28% 3.88% 3.11% 2.35% 1.72%
EPS 2 0.0600 2.370 2.390 1.260 0.0100 2.170 -0.0800 -0.0100 4.430 -0.1100 0.0250 0.0400 0.0500 0.0633 0.0100
Dividend per Share 2 0.4400 0.4500 0.4500 0.4500 0.4500 0.4500 0.4500 0.4500 0.4500 0.4500 0.4550 0.4560 0.4560 0.4550 0.4625
Announcement Date 10/28/21 2/9/22 5/2/22 7/28/22 11/3/22 2/9/23 5/1/23 7/27/23 11/2/23 2/8/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,328 3,933 3,676 3,546 3,132 3,263 3,446 3,632
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.06 x 9.017 x 8.61 x 7.411 x 6.356 x 6.448 x 6.618 x 7.015 x
Free Cash Flow 1 -19 - 153 - - 220 231 239
ROE (net income / shareholders' equity) 26.8% -6.76% 28.7% 45.5% 28.1% 0.78% 1.36% 1.91%
ROA (Net income/ Total Assets) 6.82% -1.59% 7.06% 13.9% 10% 0.28% 0.47% 0.59%
Assets 1 6,833 6,569 6,335 6,496 6,343 6,796 5,530 6,567
Book Value Per Share - - - - - - - -
Cash Flow per Share 2 - - 2.160 - - 2.370 2.480 2.560
Capex 1 393 347 180 206 174 120 123 125
Capex / Sales 43.03% 48.21% 24.25% 26.67% 21.18% 15.1% 14.93% 14.55%
Announcement Date 1/30/20 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Apartment Income REIT Corp.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
11
Last Close Price
38.41 USD
Average target price
38.22 USD
Spread / Average Target
-0.50%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
APARTMENT INCOME REIT CORP. Stock Apartment Income REIT Corp.
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MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
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SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
-10.90% 14.84B
AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
+1.25% 13.34B
UDR INC. Stock UDR Inc.
-0.99% 12.48B
EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-14.19% 11.29B
CAMDEN PROPERTY TRUST Stock Camden Property Trust
+0.33% 10.84B
Residential REITs
  1. Stock Market
  2. Equities
  3. AIRC Stock
  4. Financials Apartment Income REIT Corp.