Definitive Analysis
Definitive Analysis
Financial Statements
Periods / Units
Fundamentals
Valuations
Miscellaneous
Analysis Mode
Full Access
See Pricing Start Trial

Apartment Income REIT Corp. (AIRC)

Company Dividend Discount ModelIndustry: REIT - ResidentialSector: Real Estate

Valuation Snapshot

Stable Growth$26.11 - $36.52$31.29
Multi-Stage$46.64 - $51.23$48.89
Blended Fair Value$40.09
Current Price$31.78
Upside26.16%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS1.58%6.42%1.801.881.832.071.661.671.591.471.321.08
YoY Growth---4.11%2.95%-11.60%24.72%-0.64%5.18%8.17%10.82%22.70%11.35%
Dividend Yield--5.68%5.26%3.42%4.84%4.37%4.40%4.18%3.86%3.49%2.84%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)639.95
(-) Cash Dividends Paid (M)264.12
(=) Cash Retained (M)375.83
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)127.9979.9948.00
Cash Retained (M)375.83375.83375.83
(-) Cash Required (M)-127.99-79.99-48.00
(=) Excess Retained (M)247.84295.83327.83
(/) Shares Outstanding (M)147.48147.48147.48
(=) Excess Retained per Share1.682.012.22
LTM Dividend per Share1.791.791.79
(+) Excess Retained per Share1.682.012.22
(=) Adjusted Dividend3.473.804.01
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-3.71%-2.71%-1.71%
Fair Value$26.11$31.29$36.52
Upside / Downside-17.85%-1.53%14.90%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)639.95622.63605.78589.38573.43557.91574.65
Payout Ratio41.27%51.02%60.76%70.51%80.25%90.00%92.50%
Projected Dividends (M)264.12317.65368.09415.57460.21502.12531.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-3.71%-2.71%-1.71%
Year 1 PV (M)288.17291.16294.16
Year 2 PV (M)302.94309.26315.65
Year 3 PV (M)310.26320.03330.00
Year 4 PV (M)311.70324.85338.41
Year 5 PV (M)308.53324.88341.92
PV of Terminal Value (M)5,356.005,639.945,935.80
Equity Value (M)6,877.607,210.137,555.95
Shares Outstanding (M)147.48147.48147.48
Fair Value$46.64$48.89$51.23
Upside / Downside46.74%53.84%61.22%

High-Yield Dividend Screener

« Prev Page 16 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0ELV.LGuerbet S.A.7.06%$1.0131.15%
215000.KQGOLFZON Co., Ltd.7.05%$3,999.3763.09%
HLAG.DEHapag-Lloyd AG7.05%$8.2861.62%
XVALO.MCVale S.A.7.05%$0.8162.96%
0GN6.LArgan S.A.7.04%$4.6130.62%
RIGD.ILReliance Industries Limited7.04%$5.008.14%
600098.SSGuangzhou Development Group Incorporated7.03%$0.4669.93%
SORKON.BKS. Khonkaen Foods Public Company Limited7.03%$0.2571.33%
Z74.SISingapore Telecommunications Limited7.03%$0.3287.72%
603995.SSYongjin Technology Group Co., Ltd.7.02%$1.2769.10%
6671.TWSan Neng Group Holdings Co., Ltd.7.02%$2.5194.63%
KPN.ASKoninklijke KPN N.V.7.02%$0.2869.30%
NNCL.BKNava Nakorn Public Company Limited7.02%$0.1182.26%
TEGH.BKThai Eastern Group Holdings Public Company Limited7.02%$0.2137.13%
ASTAK.ATAlpha Real Estate S.a.7.01%$0.5252.38%
INETREIT.BKINET Freehold and Leasehold Real Estate Investment Trust7.01%$0.8045.08%
ABTG.MIAlfio Bardolla Training Group S.p.A.7.00%$0.1235.81%
MMB.PALagardere S.A.7.00%$1.3164.26%
0010.HKHang Lung Group Limited6.99%$1.0742.37%
0RP0.LTikehau Capital6.99%$1.1166.15%
1066.HKShandong Weigao Group Medical Polymer Company Limited6.99%$0.3541.33%
CAT31.PACaisse Regionale de Credit Agricole Mutuel Toulouse 316.99%$7.4918.27%
037710.KSGwangju Shinsegae. Co. ,Ltd.6.98%$2,199.7640.80%
AP-R.BKAP (Thailand) Public Company Limited6.98%$0.6040.92%
EASON.BKEason & Co Public Company Limited6.97%$0.0860.98%
KENKenon Holdings Ltd.6.97%$4.7154.85%
015860.KSILJIN Holdings Co., Ltd.6.96%$474.0952.60%
3808.HKSinotruk (Hong Kong) Limited6.96%$1.9343.31%
603801.SSZbom Home Collection Co.,Ltd6.96%$0.6494.30%
WOMF.JKPT Wahana Ottomitra Multiartha Tbk6.96%$22.5631.36%
601225.SSShaanxi Coal Industry Company Limited6.95%$1.4875.05%
LOG.MCLogista Integral, S.A.6.95%$2.0980.25%
VCX.AXVicinity Centres6.95%$0.1852.81%
0QME.LOrell Füssli AG6.94%$8.3058.10%
3470.TMarimo Regional Revitalization REIT, Inc.6.94%$7,579.0662.91%
ARROW.BKArrow Syndicate Public Company Limited6.93%$0.3569.42%
003690.KSKorean Reinsurance Company6.92%$797.5138.80%
3279.TActivia Properties Inc.6.92%$9,742.1289.07%
IL0A.IRPermanent TSB Group Holdings plc6.92%$0.1639.09%
S41.SIHong Leong Finance Limited6.92%$0.1875.53%
SECURITY.SNGrupo Security S.A.6.92%$23.1197.85%
2377.HKChina Boqi Environmental (Holding) Co., Ltd.6.91%$0.0712.31%
601991.SSDatang International Power Generation Co., Ltd.6.91%$0.2465.75%
ALPJT.PAPoujoulat S.A.6.91%$0.5236.16%
AZM.MIAzimut Holding S.p.A.6.91%$2.4771.18%
PPF.BKPinthong Industrial Park Property Fund6.91%$0.7581.09%
BOLSAA.MXBolsa Mexicana de Valores, S.A.B. de C.V.6.90%$2.5984.50%
HYDRA.ASHydratec Industries N.V.6.90%$12.0839.09%
0O6D.LMiquel y Costas & Miquel, S.A.6.89%$1.0041.40%
0QO6.LJulius Bär Gruppe AG6.89%$3.9199.57%