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.
AIR Communities awarded California Assemblywoman Blanca Rubio the 2022 Housing Impact Award during the Mayoral Housing, Transportation, and Jobs Summit hosted by the Los Angeles Business Council on May 24, 2022. The award recognizes Rubio's pivotal role in passing housing legislation and promoting investment in housing. AIR's Chief Corporate Responsibility Officer, Patti Shwayder, commended Rubio for her collaborative approach to housing policy. Established in 2010, the Housing Impact Award honors individuals dedicated to addressing housing challenges in Los Angeles and California.
Apartment Income REIT Corp. (AIRC) reported strong first-quarter results for 2022, featuring a 9.2% increase in Same Store revenue and an 11.7% rise in NOI year-over-year. The company sold $1.7 billion in properties, enhancing its balance sheet and liquidity, with net leverage to EBITDAre at 5.7x. Pro forma FFO per share for the quarter was $0.57, exceeding guidance. AIR anticipates full-year FFO between $2.37 and $2.45. The company aims for continued growth through strategic acquisitions, while managing low leverage and targeting high IRRs on new properties.
Apartment Income REIT Corp. (AIRC) announced a quarterly cash dividend of $0.45 per share for the quarter ending March 31, 2022. The dividend will be payable on May 31, 2022, to stockholders of record on May 20, 2022. AIRC operates a significant portfolio of 84 apartment communities across 12 states and the District of Columbia, making it one of the largest apartment owners in the U.S. The company’s shares are traded on the New York Stock Exchange under the symbol AIRC.
Apartment Income REIT Corp. (AIRC) will release its First Quarter 2022 earnings on May 2, 2022, after market close. Following this, a conference call is scheduled for May 3, 2022, at 1:00 p.m. Eastern time. Investors can access the call through domestic and international dial-in numbers or via webcast at investors.aircommunities.com. A replay will be available until July 28, 2022.
AIRC is a leading real estate investment trust, managing 84 apartment communities across 12 states and the District of Columbia.
AIR Communities continues its partnership with the National Leased Housing Association (NLHA) by accepting applications for the AIR Gives Opportunity Scholarship until April 15, 2022. Over the past 14 years, AIR has contributed more than $1.6 million to NLHA's Education Fund. This scholarship aids students in affordable housing aspiring for higher education. AIR's Chief Corporate Responsibility Officer highlighted the commitment to community support, while NLHA's Executive Director emphasized the importance of providing financial resources to low-income students.
Axiom Apartments in Cambridge, MA, and Ocean House on Prospect in La Jolla, CA received top recognition from J Turner Research, ranking among the Elite 1% of apartment communities for online reputation. Out of 128,000+ monitored properties, only 1,564 achieved this status. Axiom was one of three communities in Cambridge to make the list, while Ocean House was the sole recipient in La Jolla. AIR emphasizes exceptional customer service and community engagement, contributing to high resident satisfaction and positive online feedback.
Apartment Income REIT Corp. (AIRC) will participate in the Citi 2022 Global Property CEO Conference on March 9, 2022, at 10:30 AM ET. CEO Terry Considine, CFO Paul Beldin, and SVP Matthew O’Grady will lead a roundtable discussion. The event will be streamed live on AIRC's website, with a replay available for one year. As of December 31, 2021, AIRC owns and operates 84 apartment communities across 12 states and the District of Columbia, making it one of the largest apartment owners in the U.S. AIRC trades on the NYSE under the ticker symbol AIRC.
Apartment Income REIT Corp. (AIRC) reported strong fourth quarter and full year results for 2021, with Same Store revenue and NOI exceeding initial guidance by 330 and 510 basis points, respectively. January 2022 marked an all-time high average daily occupancy of 98.4%. The company sold $1.4 billion in properties, with another $267 million under contract. Pro forma FFO per share for 2021 was $2.14, outpacing initial expectations. For 2022, AIRC anticipates Same Store revenue growth of 8.9%-9.9% and FFO per share of $2.36-$2.44, projecting 12% growth at the midpoint.
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