Apartment Income REIT Corp. (AIRC)

Apartment Income REIT Corp. (AIRC) — VMCI valuation read

Composite valuation read on AIRC: VMCI 49/100 against a Real Estate sector median of 50. The 1-point below-median print is the headline number for Apartment Income REIT Corp., and at the mid-cap tier it reflects how the five pillars combine into a single decision-grade score.

Trailing 30-day insider activity for AIRC: nothing material on SEC EDGAR. With the Form 4 channel quiet, the price-vs-DCF gap and the trailing margin trend carry more weight in the active read.

**Investor frame.** Value, quality, risk in three lines on AIRC: AIRC trades at 19.0x earnings, 6% above the Real Estate median of 18.0x; ROIC of 17.0% sits 7.0pp above the Real Estate median (10.0%); net debt to EBITDA of 3.2x is the binding constraint on the bear case. EV/EBITDA at 14.0x versus 12.0x for Real Estate closes the value frame.

AIRC rose 0.1% over the trailing 7 days, with a -13.0% read on a 30-day basis.