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Apartment Income REIT Corp. (NYSE: AIRC) has declared a quarterly cash dividend of
Apartment Income REIT Corp. (NYSE: AIRC) has been recognized in Built In’s Best Places to Work lists for several major markets, including Colorado, Los Angeles, Miami, and Washington DC. This annual award honors businesses in large tech markets, reflecting their commitment to employee benefits and culture. AIR Communities emphasizes its people-first approach, highlighting its comprehensive benefits package, which includes top-tier parental leave and support for life events. The awards are determined using an algorithm based on compensation, benefits, and flexible work opportunities, showcasing the significance of employee satisfaction in company performance.
Apartment Income REIT Corp. (NYSE: AIRC) has announced the tax classifications of its 2022 distributions to shareholders. Each quarter, the company distributed $0.45 per share, totaling $1.80 for the year. The ordinary dividends included 13.71320% qualified dividends and 86.28680% total capital gain distributions. The distributions are subject to federal and state tax law variations, and shareholders are encouraged to consult their tax advisors. These details reflect AIR's ongoing commitment to transparency and shareholder value.
Apartment Income REIT Corp. (NYSE: AIRC) is set to release its Fourth Quarter and Year-End 2022 earnings on February 9, 2023, post-market close. A conference call discussing these results will occur on February 10, 2023, at 1:00 PM ET. A webcast and replay options are available for investors. As one of the largest apartment owners in the U.S., AIRC manages 74 communities across 10 states and the District of Columbia. For updates, investors can refer to the company’s website.
Apartment Income REIT Corp. (NYSE: AIRC) recently received a first-time Baa2 issuer rating from Moody's, along with a stable outlook. This reflects Moody's expectation that the company will reduce its net debt to EBITDA ratio to under 6.0x. As of September 30, 2022, AIRC's unencumbered apartment communities were valued at approximately $8.3 billion. CFO Paul Beldin noted the favorable rating aligns with their S&P BBB rating, enhancing debt capital sourcing opportunities while maintaining strong financial flexibility.
Apartment Income REIT Corp. (AIR Communities) engaged in community service through its philanthropic program, AIR Gives, in November 2022. This initiative allows AIR teammates to volunteer 15 paid hours annually while receiving $15 for each hour contributed to a nonprofit of their choice. In 2022, over 1,200 hours were volunteered nationwide. Notable activities included sorting 16,000 pounds of food in California, cleaning up waste in Denver, and organizing food drives in DC. The program also supports teammates with U.S. citizenship assistance and emergency financial aid.
Apartment Income REIT Corp. (NYSE: AIRC) announced plans to amend its charter, reducing the shareholder vote needed to modify bylaws to a simple majority. This change aims to enhance shareholder engagement, following discussions with shareholders who hold 70% of shares. The amendment is considered a best practice by the Board and will be voted on during the upcoming 2023 annual shareholder meeting. CEO Terry Considine emphasized AIR's commitment to governance excellence and soliciting shareholder feedback.
AIR Communities announced a significant improvement in its GRESB score, achieving a 78, a 13% increase from the previous year. This marks the company's inaugural public GRESB score, featuring a 29% rise in environmental stewardship, a perfect score in social responsibility, and near-perfect corporate governance. AIR ranked 5th among its peers and aims to meet its sustainability targets by 2025, including reductions in energy, water, and greenhouse gas emissions.
Apartment Income REIT Corp. (AIRC) announced a strong third quarter in 2022, reporting a Pro forma FFO of $0.58 per share, exceeding guidance. The company is on track for 10.25% Same Store revenue growth, with an impressive 13.3% increase in year-over-year NOI. AIRC committed to purchasing Southgate Towers for $298 million and repurchased 4.3 million shares, totaling $162 million. Despite inflationary pressures, operating expenses remained flat, and cash flows are stable due to disciplined customer selection. The acquisition portfolio is performing well, with 2022 acquisitions meeting expectations.
Apartment Income REIT Corp. (NYSE: AIRC) has declared a quarterly cash dividend of $0.45 per share for the quarter ending September 30, 2022. The dividend, payable on November 30, 2022, is applicable to stockholders on record as of November 18, 2022. This results in an annualized dividend of $1.80 per share, offering a yield of approximately 4.7% based on recent trading prices.
AIRC operates 76 apartment communities across 11 states and the District of Columbia, making it one of the largest apartment owners in the U.S.