Apartment Income REIT Corp. (AIRC) Tops Q1 EPS by 18c

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Go back to Apartment Income REIT Corp. (AIRC) Tops Q1 EPS by 18c

AIR Reports First Quarter 2022 Results; First Quarter FFO of $0.57 Per Share $0.02 Above Midpoint of Guidance; Pro Forma Leverage to EBITDAre at 5.4x, Within Targeted Range.

May 2, 2022 4:48 PM EDT

DENVER--(BUSINESS WIRE)-- Apartment Income REIT Corp. ("AIR") (NYSE: AIRC) announced today first quarter results for 2022.

Chief Executive Officer Terry Considine comments: "AIR began the year with strong results, the product of intentional focus on a simple business model, comparative advantage in property operations, low G&A costs, and a commitment to low leverage."

"Comparing first quarter 2022 to first quarter 2021: Same Store revenue and NOI are up 9.2% and 11.7%, respectively. NOI margins are up 162 basis points to 72.8%. Average daily occupancy improved by 270 basis points to 98.1%."

"We seized the... More