AIR Reports First Quarter 2021 Results
Apartment Income REIT Corp (“AIR”) (NYSE: AIRC) announced today first quarter results for 2021.
Chief Executive Officer Terry Considine comments: “2021 is off to a solid start with first quarter operating results coming in ahead of expectations. The combination of AIR’s best-in-class operating platform and a recovering economy allowed us to rebuild occupancy and raise rents while maintaining our focus on customer selection and customer quality.”
“Our five healthiest markets, representing half of AIR’s revenue, have fully recovered from the disruptions of 2020, as evidenced by almost
“We approach peak-leasing season with increased optimism that the worst of COVID is behind us and with the expectation that the economic recovery will carry on into 2022.”
“We continue to execute on the plan and promise of AIR to be the best way to own multi-family properties. Many of our primary objectives are complete, including best in class property operations and G&A relative to gross asset value that is the lowest in the sector. We have made substantial progress on other objectives, such as lowering leverage and improving the cost of equity capital. The recent issuance of
Chief Financial Officer Paul Beldin adds: “First quarter FFO per share of
“Our leading indicators point to a building recovery; blended signed lease rates turned positive in March, a thousand basis point improvement from September. Occupancy improved sequentially by 110 basis points to
“Based on our strong operating results and our expectations for continued recovery, and considering both the dilution to-be-expected from equity issuance and property sales whose proceeds are used to reduce leverage, we expect 2021 FFO per share to be between
Financial Results: First Quarter Pro Forma FFO Per Share
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FIRST QUARTER |
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(all items per common share - diluted) |
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2021 |
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Net income |
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$ |
0.56 |
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Apartment Income REIT Corp.
NYSE:AIRCAIRC RankingsAIRC Latest NewsMar 20, 2024
AIR Communities Named National Top Workplace Winner
AIRC Stock Data
5.62B
143.98M
0.61%
102.92%
1.68%
Lessors of Residential Buildings and Dwellings
Real Estate and Rental and Leasing
United States of America
DENVER
About AIRCair communities, a real estate investment trust (reit), is the owner and operator of best-in-class apartment communities across the united states. air communities professionally manages high-quality properties in most major markets, including boston, philadelphia, los angeles and miami. our communities are managed by outstanding team members who provide unbeatable customer service. exceptional operations start with a professional, well-trained team. residents at air communities benefit from the resources of a national company and the attention of a local team. customer satisfaction is the most important part of our mission. we conduct regular surveys to make sure we are meeting the needs of our residents and making their home the best it can be. you can expect us to always be welcoming, consistent, responsive, trusted, and exceptional.
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