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Apartment Income REIT Corp. (AIRC) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

Apartment Income REIT Corp. (AIRC) reported $214.56 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 16.9%. EPS of $0.58 for the same period compares to $1.26 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $211.46 million, representing a surprise of +1.47%. The company delivered an EPS surprise of -1.69%, with the consensus EPS estimate being $0.59.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Apartment Income REIT Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Other revenues: $2.07 million versus $2.15 million estimated by two analysts on average.

  • Rental and other property revenues: $212.49 million compared to the $213.45 million average estimate based on two analysts. The reported number represents a change of +17.4% year over year.

  • Net income attributable to per common share- diluted: -$0.01 versus $0.04 estimated by three analysts on average.

  • Interest income: $1.51 million versus $1.37 million estimated by two analysts on average.

View all Key Company Metrics for Apartment Income REIT Corp. here>>>

Shares of Apartment Income REIT Corp. have returned +0.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research