Apartment Income REIT Corp [NYSE: AIRC] surged by $7.03 during the normal trading session on while it closed the day at $38.38. The company report on April 8, 2024 at 8:32 AM that Blackstone Real Estate to Take AIR Communities Private for Approximately $10 Billion.
Plans to Invest More Than $400 Million to Maintain and Improve Existing Portfolio, Illustrating Commitment to Delivering a Leading Resident Experience.
Blackstone (NYSE: BX) and Apartment Income REIT Corp. (NYSE: AIRC) (“AIR Communities” or the “Company”) today announced that they have entered into a definitive agreement under which Blackstone Real Estate Partners X (“Blackstone”) will acquire all outstanding common shares of AIR Communities for $39.12 per share in an all-cash transaction valued at approximately $10 billion, including the assumption of debt.
Apartment Income REIT Corp stock has also gained 20.77% of its value over the past 7 days. However, AIRC stock has inclined by 11.38% in the 3 months of the year. Over the past six months meanwhile, it has gained 26.04% and gained 10.51% year-on date.
The market cap for AIRC stock reached $5.56 billion, with 144.93 million shares outstanding and 144.44 million shares in the current float. Compared to the average trading volume of 1.17M shares, AIRC reached a trading volume of 26051710 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Apartment Income REIT Corp [AIRC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AIRC shares is $35.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AIRC stock is a recommendation set at 2.27. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Apartment Income REIT Corp shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 18, 2024. The new note on the price target was released on February 28, 2024, representing the official price target for Apartment Income REIT Corp stock. Previously, the target price had yet another raise to $34, while Goldman analysts kept a Neutral rating on AIRC stock.
The Average True Range (ATR) for Apartment Income REIT Corp is set at 1.07, with the Price to Sales ratio for AIRC stock in the period of the last 12 months amounting to 6.78. The Price to Book ratio for the last quarter was 2.37, with the Price to Cash per share for the same quarter was set at 0.81. Price to Free Cash Flow for AIRC in the course of the last twelve months was 13.77.
AIRC stock trade performance evaluation
Apartment Income REIT Corp [AIRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.77. With this latest performance, AIRC shares gained by 21.19% in over the last four-week period, additionally plugging by 26.04% over the last 6 months – not to mention a rise of 9.28% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AIRC stock in for the last two-week period is set at 79.91, with the RSI for the last a single of trading hit 85.55, and the three-weeks RSI is set at 74.85 for Apartment Income REIT Corp [AIRC]. The present Moving Average for the last 50 days of trading for this stock 31.81, while it was recorded at 32.80 for the last single week of trading, and 32.67 for the last 200 days.
Earnings per share (EPS) analysis for Apartment Income REIT Corp [AIRC] stock
With the latest financial reports released by the company, Apartment Income REIT Corp posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -700.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AIRC.
Apartment Income REIT Corp [AIRC]: Institutional Ownership
The top three institutional holders of AIRC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AIRC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AIRC stock with ownership which is approximately 5.8386%.
