Apartment Income REIT Corp. (NYSE:AIRC) does about 872.04K shares in volume on a normal day but saw 925395 shares change hands in Tuesday trading. The company now has a market cap of 5.45B USD. Its current market price is $36.83, marking an increase of 0.77% compared to the previous close of $36.55. The 52 week high reached by this stock is $55.82 whilst the lowest price level in 52 weeks is $35.22. The script in recent trading has seen the stock touch a high of $36.945 and a low of $36.57.
Apartment Income REIT Corp. (AIRC) has a 20-day trading average at $37.06 and the current price is -34.02% off the 52-week high compared with 4.57% distance from its 52-week low. The 50-day simple moving average of the closing price is $37.78 and its 200-day simple moving average is $44.50. If we look at the stock’s price movements over the week, volatility stands at 1.63%, which increases to 2.50% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 47.72 to suggest the stock is neutral.
The consensus objective for the share price is $42.90, suggesting that the stock has a potential upside of 14.15% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on October 19, 2022 when Jefferies resumed the stock to “Hold” and issued a price target of between $44 and $39. Jefferies downgraded the stock to “Hold” from Buy on July 22, 2022 at a price target of $44.
The current price level is -0.81%, -2.79%, and -17.39% away from its SMA20, SMA50, and SMA200 respectively, with the AIRC price moving above the 50-day SMA on November 22. Apartment Income REIT Corp. (AIRC) stock is down -0.24% over the week and -0.62% over the past month. Its price is -32.63% year-to-date and -28.98% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $1.26 above consensus estimates by $1.04. AIRC’s earnings per share are forecast to grow by 5,716.70% this year and -81.90% over next year. Expected sales for next quarter are $201.06 million, which analysts say will come at $756.73 million for the current fiscal year and next year at $811.91 million. In addition, estimates put the company’s current quarterly revenue at an average of $194.17 million.
Its 12-month price target is $41.50. To reach the target analysts have set, the stock logically needs to grow 14.15 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $39.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $51.00.
Outstanding shares total 153.81M with insiders holding 0.35% of the shares and institutional holders owning 101.42% of the company’s common stock. The company has a return on investment of -0.80% and return on equity of 46.80%. The price to earnings ratio (P/E ratio) amounts to 6.10 while the forward price to earnings ratio is 63.83. Price to book ratio is 2.78 and price to sales ratio is 7.17.
According to a U.S. Securities and Exchange Commission filing, Vanguard Real Estate Index Fund has reduced its position in Apartment Income REIT Corp. (AIRC) to 7,120,720 shares, mirroring a recent drop by -0.40%. Vanguard Real Estate Index Fund dumped 28736.0 shares of Apartment Income REIT Corp. common stock bringing its total worth to about $273.65 million at the end of recent close, SEC documents show. iShares Core S&P Mid Cap ETF raise their holdings by 0.04% in the company over the course of the most recent quarter. It now holds a 3.01% position in Apartment Income REIT Corp. thanks to 4.63 million shares amounting to $178.07 million.