Apartment Income REIT (AIRC) Declares $0.45 Dividend

Apartment Income REIT declared on February 1, 2023 that its board of directors had declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Shareholders of record on February 16, 2023 will receive payment on February 28, 2023. Previously, the company paid $0.45 per share.

At the current share price of $38.76/share, the dividend yield of the stock is 4.64%. Looking back five years and taking a sample each week, the average dividend yield was 3.90%, the lowest 3.22% and the highest 5.20%. The standard deviation of returns is 0.56 (n=90).

The current dividend yield is 1.31 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.28. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is -0.11%.

Analyst price forecast suggests 5.26% upside

As of February 6, 2023, the one-year average price target for Apartment Income REIT was $40.80. The predictions range from a low of $35.35 to a high of $45.15. The average price target represents a 5.26% increase from its last reported closing price of $38.76.

Projected annual revenue for Apartment Income REIT is $843 million, an increase of 11.36%. Projected annual EPS is $0.46, down 92.49%.

Fund Sentiment

There are 752 funds or institutions reporting positions in Apartment Income REIT. This is a decrease of 5 owner(s) or 0.66%.

Average portfolio weight of all funds US dedicated: AIRC is 0.3321%, an increase of 0.4370%. The total number of shares held by institutions has decreased by 0.81% over the past three months to 179,945,000 shares.

What are the big shareholders doing?

Cohen & Steers holds 21,082,067 shares representing 14.06% ownership of the company. In its previous filing, the company said it held 21,664,091 shares, representing
a decrease
2.76%. The company

increase

its portfolio allocation in AIRC by 2.90% in the last quarter.

Principal Financial Group holds 8,658,266 shares representing 5.77% ownership of the company. In its previous filing, the company said it held 8,734,781 shares, representing
a decrease
by 0.88%. The company

decreases

its portfolio allocation in AIRC of 49.05% in the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares owns 7,122,824 shares representing 4.75% ownership of the company. In its previous filing, the company said it held 7,198,338 shares, representing
a decrease
of 1.06%. The company

increase

its portfolio allocation to AIRC by 1.00% over the last quarter.

Jpmorgan Chase & holds 6,288,899 shares representing 4.19% ownership of the company. In its previous filing, the company said it held 5,609,771 shares, representing
a raise
of 10.80%. The company

increase

its portfolio allocation in AIRC of 7.29% over the last quarter.

CSEIX – Cohen & Steers Real Estate Securities Fund holds 5,019,491 shares representing 3.35% ownership of the company. No change in the last quarter.

General information about Apartment Income REIT
(This description is provided by the company.)

Apartment Income REIT Corp. (AIR) is a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets in the United States. AIR is one of the largest apartment owners and operators in the nation, with 98 communities in 12 states and the District of Columbia. AIR’s common stock trades on the New York Stock Exchange under the symbol AIRC and is included in the S&P 400.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.