Apartment Income REIT Corp. (AIRC) Misses Q3 EPS by 17c

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Go back to Apartment Income REIT Corp. (AIRC) Misses Q3 EPS by 17c

AIR Reports Third Quarter 2021 Results, Raises Full Year FFO Guidance, and Announces $1.7B of Property Sales Closed, Under Contract, In Negotiation

October 28, 2021 4:31 PM EDT

DENVER--(BUSINESS WIRE)-- Apartment Income REIT Corp. (AIR) (NYSE: AIRC) announced today third quarter results for 2021; an increase to full year Same Store Revenue, NOI, and FFO guidance; $1.7 billion of property sales closed, under contract, or in negotiation with proceeds to be used to reduce year-end net leverage to EBITDAre to 5.3:1, and the acquisition of a four property portfolio in Washington, D.C. for $510 million.

Chief Executive Officer Terry Considine comments: It is a good time for the multi-family business. Customer demand has recovered, and rents are at or above long-term trendlines. Our... More