The stock price of Apartment Income REIT Corp (NYSE: AIRC) has jumped by 0.31 compared to previous close of 38.46. Despite this, the company has seen a gain of 0.44% in its stock price over the last five trading days. Seeking Alpha reported 2024-05-04 that Blackstone has been on a REIT buying spree. Its leaders are self-made billionaires, and they talk highly about REITs. This is not surprising given that they are trading at their lowest valuations in over a decade.
Is It Worth Investing in Apartment Income REIT Corp (NYSE: AIRC) Right Now?
Apartment Income REIT Corp (NYSE: AIRC) has a higher price-to-earnings ratio of 9.11x compared to its average ratio. AIRC has 36-month beta value of 0.78. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for AIRC is 144.63M, and currently, short sellers hold a 2.61% ratio of that float. The average trading volume of AIRC on May 06, 2024 was 2.85M shares.
AIRC’s Market Performance
The stock of Apartment Income REIT Corp (AIRC) has seen a 0.44% increase in the past week, with a 22.59% rise in the past month, and a 17.62% gain in the past quarter. The volatility ratio for the week is 0.33%, and the volatility levels for the past 30 days are at 0.37% for AIRC. The simple moving average for the last 20 days is 1.40% for AIRC’s stock, with a simple moving average of 17.22% for the last 200 days.
Analysts’ Opinion of AIRC
Mizuho, on the other hand, stated in their research note that they expect to see AIRC reach a price target of $31. The rating they have provided for AIRC stocks is “Neutral” according to the report published on February 28th, 2024.
Goldman gave a rating of “Neutral” to AIRC, setting the target price at $34 in the report published on February 22nd of the current year.
AIRC Trading at 13.35% from the 50-Day Moving Average
After a stumble in the market that brought AIRC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.26% of loss for the given period.
Volatility was left at 0.37%, however, over the last 30 days, the volatility rate increased by 0.33%, as shares surge +23.06% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.65% upper at present.
During the last 5 trading sessions, AIRC rose by +0.44%, which changed the moving average for the period of 200-days by +7.05% in comparison to the 20-day moving average, which settled at $38.41. In addition, Apartment Income REIT Corp saw 11.09% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at AIRC starting from Bohjalian Thomas N, who purchase 750 shares at the price of $31.00 back on Feb 23 ’24. After this action, Bohjalian Thomas N now owns 20,750 shares of Apartment Income REIT Corp, valued at $23,250 using the latest closing price.
Bohjalian Thomas N, the Director of Apartment Income REIT Corp, purchase 889 shares at $31.50 during a trade that took place back on Feb 14 ’24, which means that Bohjalian Thomas N is holding 20,000 shares at $28,004 based on the most recent closing price.
Stock Fundamentals for AIRC
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.57 for the gross margin
The net margin for Apartment Income REIT Corp stands at 0.78. The total capital return value is set at 0.0. Equity return is now at value 28.15, with 10.00 for asset returns.
Based on Apartment Income REIT Corp (AIRC), the company’s capital structure generated 0.58 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.37. The interest coverage ratio of the stock is 0.17.
Currently, EBITDA for the company is 509.56 million with net debt to EBITDA at 6.75. When we switch over and look at the enterprise to sales, we see a ratio of 10.76. The receivables turnover for the company is 11.79for trailing twelve months and the total asset turnover is 0.13.
Conclusion
To put it simply, Apartment Income REIT Corp (AIRC) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
