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Apartment Income REIT Corp. (AIRC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Apartment Income REIT Corp. (AIRC - Free Report) reported $196.36 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.5%. EPS of $0.64 for the same period compares to $2.17 a year ago.
The reported revenue represents a surprise of -0.34% over the Zacks Consensus Estimate of $197.04 million. With the consensus EPS estimate being $0.64, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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.
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:
Revenue- Other: $3.14 million versus $2.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +32.7% change.
Revenue- Rental and other property: $193.22 million compared to the $196.86 million average estimate based on three analysts. The reported number represents a change of -6% year over year.
Net income attributable to per common share- diluted: $0.11 versus the four-analyst average estimate of $0.04.
Shares of Apartment Income REIT Corp. have returned -8.4% over the past month versus the Zacks S&P 500 composite's +6.5% 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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Apartment Income REIT Corp. (AIRC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Apartment Income REIT Corp. (AIRC - Free Report) reported $196.36 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.5%. EPS of $0.64 for the same period compares to $2.17 a year ago.
The reported revenue represents a surprise of -0.34% over the Zacks Consensus Estimate of $197.04 million. With the consensus EPS estimate being $0.64, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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.
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:
- Revenue- Other: $3.14 million versus $2.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +32.7% change.
- Revenue- Rental and other property: $193.22 million compared to the $196.86 million average estimate based on three analysts. The reported number represents a change of -6% year over year.
- Net income attributable to per common share- diluted: $0.11 versus the four-analyst average estimate of $0.04.
View all Key Company Metrics for Apartment Income REIT Corp. here>>>Shares of Apartment Income REIT Corp. have returned -8.4% over the past month versus the Zacks S&P 500 composite's +6.5% 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.