Apartment Income Stock Price, News & Analysis

Apartment Income REIT Corp. (AIRC) has published its 2021/2022 Corporate Responsibility Report, highlighting its focus on ESG initiatives. Key achievements include a 9% reduction in greenhouse gas emissions and a 3% decrease in energy usage since the 2019 baseline. The report details progress toward sustainability goals consistent with the UN's Sustainable Development Goals, as well as a new corporate responsibility website. A low-risk ESG rating from Sustainalytics and a high team engagement score further affirm the company's commitment to corporate responsibility.

Apartment Income REIT Corp. (NYSE: AIRC) reported strong performance metrics as of August 31, 2022, indicating it remains on track to meet its 2022 guidance. The company noted a 14.0% increase in blended transacted leases, with an average daily occupancy of 96.0%. Renewal rent changes were strong at 11.0%, and new lease rent changes showed resilience at 17.4%. With its portfolio improvements, AIRC has enhanced revenue per apartment to $2,596. The outlook for 2023 is positive, with anticipated revenue growth of 5% from leasing activities.

AIR Communities has launched a new corporate responsibility website to enhance its engagement in environmental, social, and governance (ESG) initiatives. The site highlights the company’s goals, including a 15% reduction in energy use, 10% in water usage, and 15% in greenhouse gas emissions by 2025. Over the past decade, AIR has invested $16.7 million in energy conservation. The website also emphasizes the company’s commitment to community and ethical governance. AIR operates 76 apartment communities across the U.S. and is listed on the NYSE under the ticker symbol AIRC.

Apartment Income REIT Corp. (AIRC) has successfully transformed its balance sheet by reducing leverage by $850 million (23%) within 18 months, enhancing its capital allocation strategy. The company boasts a high-quality, diversified portfolio, with average monthly rent increasing by 16% to $2,590. AIRC's operational efficiency generates strong NOI margins, maintaining flat controllable expenses for 12 years. Despite challenges such as higher offsite costs due to inflation and lease cancellations with Aimco, pro forma FFO expectations for 2022 remain stable at $2.41 per share.

Apartment Income REIT Corp. (NYSE: AIRC) has declared a quarterly cash dividend of $0.45 per share for Class A Common Stock for the quarter ending June 30, 2022. The dividend is payable on August 30, 2022, to shareholders on record as of August 19, 2022. AIRC is a prominent real estate investment trust with a focus on quality apartment management across major U.S. markets, operating 76 communities in 11 states and the District of Columbia.

Apartment Income REIT Corp. (NYSE: AIRC) is set to announce its Second Quarter 2022 earnings on July 28, 2022, post-market. The earnings conference call will follow on July 29, 2022, at 1:00 p.m. ET. Interested parties can join the call via domestic (1-844-200-6205) or international (1-929-526-1599) dial-in numbers, with access code 725302. The call's replay will be available until October 28, 2022. AIRC is a leading real estate investment trust managing quality apartment communities across 76 locations in 11 states and Washington D.C.

Apartment Income REIT Corp. (AIRC) announced the issuance of $400 million in senior unsecured notes at an effective interest rate of 4.3%, with maturities spanning from five to ten years. The proceeds will repay borrowings under the revolving credit facility, marking a shift to primarily unsecured borrowing. Notably, on June 21, 2022, AIRC received $400 million from Aimco to reduce debt. Post-transaction, AIRC's balance sheet will reflect $1.6 billion in secured debt and $1.2 billion in unsecured debt, alongside a BBB S&P rating.

Westwater Resources, Inc. (NYSE American: WWR) announces the retirement of Jeffrey L. Vigil, CFO, effective August 26, 2022. He served over nine years and significantly contributed to the financial strategy for the ongoing construction of the Kellyton graphite processing facility in Alabama. Steven M. Cates, previously Chief Accounting Officer, is appointed as the new CFO. Cates has been integral to the company’s financial operations since joining in May 2021.

Apartment Income REIT Corp. (NYSE: AIRC) has agreed with Apartment Investment and Management Company (Aimco) to cancel leases for four properties, resulting in a negotiated payment of $200 million. These properties include 865 apartment homes with average rents around $3,400. AIR will also receive $534 million from Aimco as a prepayment of a note, expected to be received by June 30, 2022. Additionally, AIR is selling its partnership interest in 16 properties for $7 million. The transactions are not expected to affect AIR's 2022 guidance.