Welcome to our dedicated page for Apartment Income REIT news (Ticker: AIRC), a resource for investors and traders seeking the latest updates and insights on Apartment Income REIT stock.
Apartment Income REIT Corp. (NYSE: AIRC) is a leading real estate investment trust (REIT) focused on owning and operating top-tier apartment communities across the United States. Headquartered in Denver, Colorado, AIRC manages 76 high-quality apartment communities, encompassing over 26,600 units spread across 10 states and the District of Columbia. The company operates in major urban markets such as Boston, Philadelphia, Los Angeles, Miami, and Washington D.C., ensuring excellent housing options for a diverse clientele.
AIRC's business model, known as the AIR Edge, emphasizes resident selection, satisfaction, and retention, coupled with relentless innovation in property management. This approach provides a durable operating advantage, driving organic growth and delivering exceptional customer service. Managed by a professional, well-trained team, AIRC consistently works to meet the needs of its residents through regular surveys and a commitment to high standards.
Recently, AIRC announced strong third-quarter financial results for 2023, achieving a GRESB score of 82 out of 100, reflecting their dedication to leadership, reporting, social responsibility, and governance. Additionally, the company declared a quarterly cash dividend and announced significant same-store revenue growth. AIRC's continuous improvements and strategic investments exemplify its commitment to delivering a superior resident experience while driving financial performance.
Through collaborations and partnerships, AIRC aims to enhance its portfolio and operational efficiency. Notably, Blackstone announced plans to acquire AIRC in an all-cash transaction valued at approximately $10 billion, which is expected to close in the third quarter of 2024, subject to stockholder approval and customary conditions. This acquisition underscores the high value of AIRC's portfolio and its potential for future growth.
For more information about Apartment Income REIT Corp. and its offerings, visit aircommunities.com.
Apartment Income REIT Corp. (NYSE: AIRC) has declared a quarterly cash dividend of $0.45 per share for Class A Common Stock, payable on May 30, 2023. Shareholders of record by May 19, 2023 will receive this dividend, resulting in an annualized dividend of $1.80 per share and a yield of approximately 5.1% based on the current closing share price of $35.21.
AIR is a self-administered real estate investment trust (REIT) with a diverse portfolio of 75 communities and 25,795 apartment homes across 10 states and the District of Columbia. The company aims to drive organic growth through its focus on resident satisfaction and innovative property management practices, known as the AIR Edge.
Apartment Income REIT Corp. (NYSE: AIRC) is set to release its First Quarter earnings on Monday, May 1, 2023, after market close. A live conference call to discuss these results will follow on Tuesday, May 2, 2023, at 1:00 p.m. Eastern time. This REIT focuses on the ownership and management of quality apartment communities across major U.S. markets, boasting 75 communities in 10 states and the District of Columbia. AIRC shares are included in the S&P 400, reflecting its significant presence in the real estate sector. Investors can participate in the conference call via provided domestic and international dial-in numbers or through a webcast.
On March 22, 2023, Apartment Income REIT Corp. (AIRC) was honored as part of the Kingsley Excellence Elite Five and won the 2023 Kingsley Excellence Awards, recognizing its commitment to outstanding customer service in the multifamily real estate sector. Ranking second among all operators and first among publicly traded REITs, AIRC underscores its customer satisfaction focus, aiming for long-term resident retention. Three of its properties were also featured in the Top 100 multifamily properties list, indicating significant operational excellence in key markets.
Apartment Income REIT Corp. (AIRC) continues its partnership with the National Leased Housing Association (NLHA) to offer the AIR Gives Opportunity Scholarship, aimed at assisting students in affordable housing. Applications are open until April 7, 2023. Since its inception 15 years ago, AIR has contributed over $1.6 million to the NLHA Education Fund, which manages the scholarship. AIR emphasizes its commitment to supporting students pursuing higher education who may face financial challenges. The scholarship provides grants to eligible residents, illustrating AIR's dedication to community impact.
Apartment Income REIT Corp. (NYSE: AIRC) has announced a roundtable discussion led by CEO Terry Considine and CFO Paul Beldin at the Citi 2023 Global Property CEO Conference on March 7, 2023, at 10:35 am Eastern Time. The event will be webcast live, with a replay available approximately 12 hours later and accessible for one year. AIR specializes in managing quality apartment communities across major U.S. markets, owning 75 communities in 10 states and Washington, D.C. The company is among the largest in its sector, and its shares are traded on the NYSE under the ticker AIRC.
Apartment Income REIT Corp. (AIRC) reported robust fourth quarter and full year 2022 results, highlighting a 10.2% growth in blended signed lease rates and a 14% Same Store NOI increase. The company’s CEO, Terry Considine, emphasized operational excellence with a 76% operating margin, one of the highest in the sector. Financially, AIRC lowered leverage and extended debt maturity while enhancing its portfolio through strategic acquisitions. For 2023, projected Same Store NOI growth is estimated between 7.3% to 10.3%, with Pro forma FFO per share anticipated between $2.35 and $2.47, marking a 10% annual increase.
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