Apartment Income REIT Stock (NYSE:AIRC), Trade Ideas

Apartment Income REIT

Apartment Investment and Management Co. owns a portfolio of 75 apartment communities with over 26,000 units. The company focuses on owning large, high-quality properties in the urban and suburban submarkets of Boston, Denver, Los Angeles, Miami, Philadelphia, San Diego, San Francisco, and Washington, D.C.

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Blackstone Inc (NYSE: BX) reported lower Q1 FY24 results with adjusted revenues of $2.55B, beating consensus. Distributable earnings rose 1% and AUM increased by 7%.

Why Is Alternative Investment Giant Blackstone Stock Falling Premarket Thursday?

Apartment Income REIT Corp

Guidance

NiSource Reaffirmed FY24 Adj. EPS Outlook Of $1.70 - $1.74 Vs. $1.71 Estimate

Kennametal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMT#NYSE">KMT</a>) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.31 by 22.58 percent. This is a 38.46 percent decrease over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $515.79 million which missed the analyst consensus estimate of $518.44 million by 0.51 percent. This is a 3.78 percent decrease over sales of $536.04 million the same period last year.

Earnings Misses

Kennametal Q3 EPS $0.24 Misses $0.31 Estimate, Sales $515.79M Miss $518.44M Estimate

Veru (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERU#NASDAQ">VERU</a>) reported quarterly losses of $(0.07) per share which missed the analyst consensus estimate of $(0.05) by 40 percent. The company reported quarterly sales of $4.10 million which beat the analyst consensus estimate of $3.00 million by 36.67 percent. This is a 37.75 percent decrease over sales of $6.59 million the same period last year.

Earnings Beats

VERU

Veru Q2 2024 Adj EPS $(0.07) Misses $(0.05) Estimate, Sales $4.10M Beat $3.00M Estimate

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy and maintains $144 price target.

Price Target

Reiteration

Analyst Ratings

LGND

HC Wainwright & Co. Reiterates Buy on Ligand Pharmaceuticals, Maintains $144 Price Target

Immunic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMUX#NASDAQ">IMUX</a>) reported quarterly losses of $(0.30) per share which missed the analyst consensus estimate of $(0.26) by 15.38 percent. This is a 48.28 percent increase over losses of $(0.58) per share from the same period last year.

IMUX

Immunic Q1 EPS $(0.30) Misses $(0.26) Estimate, Cash And Equivalents As Of March 31, 2024 Were $97.3M

Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) announced today it has acquired privately-held Flashtract, a company delivering specialized technology to streamline the flow of payment and compliance information between construction general contractors and subcontractors. Financial terms were not disclosed.

TRMB

Trimble Acquires Flashtract; Terms Not Disclosed

Health Care

General

ELAN

Elanco Animal Health Forecasts 2024 Revenue Of $4.46B-$4.515B Versus Prior Guidance Of $4.45B-$4.54B And Consensus Of $4.49B

Michael D. Stornant&nbsp;will be retiring after nearly 30 years with the Company. Stornant will continue to work for the Company through early 2025, partnering closely with Miller to ensure a seamless transition.

Management

Wolverine Worldwide Names Taryn Miller As CFO, Effective May 9, 2024

NiSource (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NI#NYSE">NI</a>) reported quarterly earnings of $0.85 per share which beat the analyst consensus estimate of $0.83 by 2.41 percent.

NiSource Q1 2024 Adj EPS $0.85 Beats $0.83 Estimate

We also returned $269 million in cash to shareholders during the quarter and today announced a new $1.0 billion share repurchase authorization demonstrating our continued commitment to shareholder returns. Looking forward, as we head into summer driving season, we expect a favorable market environment and believe we are well positioned to generate strong earnings and cash flows.&quot;

DINO

HF Sinclair Board Authorized New $1B Stock Buyback

Choice Hotels Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHH#NYSE">CHH</a>) reported quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.14 by 12.28 percent. This is a 14.29 percent increase over earnings of $1.12 per share from the same period last year. The company reported quarterly sales of $331.949 million which missed the analyst consensus estimate of $343.166 million by 3.27 percent. This is a 0.25 percent decrease over sales of $332.792 million the same period last year.

Choice Hotels Intl Q1 2024 Adj EPS $1.28 Beats $1.14 Estimate, Sales $331.949M Miss $343.166M Estimate

WIIM

ACMR

ACM Research shares are trading higher after the company reported better-than-expected Q1 results and maintained FY24 revenue outlook.

United Parks &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRKS#NYSE">PRKS</a>) reported quarterly losses of $(0.17) per share which beat the analyst consensus estimate of $(0.27) by 37.04 percent. The company reported quarterly sales of $297.400 million which beat the analyst consensus estimate of $286.873 million by 3.67 percent.

PRKS

United Parks & Resorts Q1 2024 GAAP EPS $(0.17) Beats $(0.27) Estimate, Sales $297.400M Beat $286.873M Estimate

HC Wainwright &amp; Co. analyst Edward White reiterates Curis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRIS#NASDAQ">CRIS</a>) with a Buy and maintains $26 price target.

CRIS

HC Wainwright & Co. Reiterates Buy on Curis, Maintains $26 Price Target

Lion Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEV#NYSE">LEV</a>) reported quarterly losses of $(0.10) per share which missed the analyst consensus estimate of $(0.09) by 11.11 percent. The company reported quarterly sales of $55.50 million which missed the analyst consensus estimate of $69.16 million by 19.75 percent. This is a 1.46 percent increase over sales of $54.70 million the same period last year.

Lion Electric Q1 2024 Adj EPS $(0.10) Misses $(0.09) Estimate, Sales $55.50M Miss $69.16M Estimate

Wolverine World Wide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WWW#NYSE">WWW</a>) reported quarterly Adj earnings of $0.05 per share which beat the analyst consensus estimate of $0.01 by 400 percent. The company reported quarterly sales of $394.900 million which beat the analyst consensus estimate of $360.426 million by 9.56 percent. This is a 34.12 percent decrease over sales of $599.400 million the same period last year.

Wolverine World Wide Q1 2024 Adj EPS $0.05 Beats $0.01 Estimate, Sales $394.900M Beat $360.426M Estimate

HF Sinclair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.65 by 9.23 percent. This is a 64.5 percent decrease over earnings of $2.00 per share from the same period last year. The company reported quarterly sales of $7.027 billion which missed the analyst consensus estimate of $7.542 billion by 6.83 percent. This is a 7.11 percent decrease over sales of $7.565 billion the same period last year.

HF Sinclair Q1 2024 Adj EPS $0.71 Beats $0.65 Estimate, Sales $7.027B Miss $7.542B Estimate

EV maker Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) said on Tuesday that it intends to increase annual production capacity at its Normal, Illinois, manufacturing plant to 215,000 vehicles, including 155,000 units of its <a href="https://www.benzinga.com/news/24/03/37572450/rivian-ceo-rj-scaringe-overwhelmed-as-68k-r2-reservations-pour-in-within-24-hours">upcoming R2 SUV. </a>
What Happened: Rivian was initially planning to manufacture its R2 SUV at its upcoming Georgia plant. However, the company has now <a href="https://www.benzinga.com/news/24/03/37552130/rivian-halts-georgia-plant-construction-to-launch-r2-suv-in-illinois-facility-ross-gerber-terms-it-t">halted the construction of its new plant</a> and intends to start R2 production at its existing facility in Illinois in the first half of 2026. 
The R2 is expected to start at around $45,000 — the same price range as <a href="https://www.benzinga.com/news/24/03/37552684/rivian-almost-catches-up-to-teslas-ev-lineup-with-new-r2-r3-but-theres-no-cybertruck-fighter-yet" target="_blank" rel="noreferrer noopener">Tesla's best-selling Model Y SUV</a>. The new vehicle will be smaller and less expensive than Rivian&#8217;s existing R1 offerings priced around $70,000, and the company expects to make more of it. The company received more than 68,000 reservations for the vehicle in less than 24 hours after unveiling it in March.
&#8220;We anticipate that most of the work to integrate R2 into our Normal facility will happen in 2025 and as a result, the plant will be down for a few weeks next year,&#8221; company CFO Claire McDonough said while adding that the company is also considering how to increase capacity at the paint shop. The paint shop in Illinois currently has a capacity of just 150,000 units.
Cost Benefits Of R2 Production: Starting R2 production at Normal will provide Rivian with savings of over $2.25 billion between now and the start of production, the company said, while adding that its cost-cutting initiative will help its existing cash balance fund operations through the launch of R2. 
The company subsequently lowered its capital expenditure outlook for 2024 by $550 million to $1.2 billion. Capital expenditure in 2025, it said, will be about $1.5 billion.
Rivian Financials: Rivian reported first-quarter revenue of $1.20 billion, beating a Street consensus estimate of $1.16 billion and a loss of $1.48 per share, which missed a Street consensus estimate of a loss of $1.25 per share. The company ended the first quarter with $9.05 billion of total liquidity, including an asset-based revolving credit facility. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38691747/boeing-starliner-delays-continue-crewed-flight-test-to-occur-no-earlier-than-may-17-says-nasa">Boeing Starliner Delays Continue: Crewed Flight Test To Occur No Earlier Than May 17, Says NASA</a>
Photo via Shutterstock

Tech

RIVN

Rivian Aims To Churn Out 215K EVs From Illinois Factory, With R2 Leading Charge, And Save Over $2B

Elanco Animal Health Q1 2024 Adj EPS $0.34 Beats $0.26 Estimate, Sales $1.205B Beat $1.174B Estimate

HC Wainwright &amp; Co. analyst Edward White reiterates Valneva (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VALN#NASDAQ">VALN</a>) with a Buy and maintains $26 price target.

VALN

HC Wainwright & Co. Reiterates Buy on Valneva, Maintains $26 Price Target

Blackstone's Big Move Sparks REIT Rally: Mid-America Or Camden Properties, Who Wins?

Here We Go Again

Technological advances, including AI and blockchain, growing utilization of digital products and services, and increasing wealth of HNWIs will shape the growth trajectory of the financial sector and create ample opportunities for industry players. So, let's determine whether financial stocks Blackstone (BX) and Discover Financial (DFS) are poised for solid first-quarter earnings. Read on... In 2024, the impact of <a href="https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/banking-industry-outlook.html">generative AI, industry convergence, embedded finance</a>, open data, and digital identity will likely shape the banking and capital markets industry. The growing demand for digital banking products and services reflects a key trend toward digitalization in the financial sector.
Financial stocks Blackstone Inc. (<a href="https://stocknews.com/stock/BX/">BX</a>) and Discover Financial Services (<a href="https://stocknews.com/stock/DFS/">DFS</a>) are expected to report their first-quarter earnings this week. It could be wise to wait for a better entry point in these stocks ahead of their earnings.
Before taking a closer look at the fundamentals of these stocks, let's examine the factors influencing the financial industry's outlook.
Rising utilization of digital banking services, increasing demand for swift and real-time fund transfers, growing incorporation of blockchain within the banking industry, and the expanding wealth of high-net-worth individuals (HNWIs) contribute to the financial sector's expansion. The financial services market is projected to <a href="https://www.researchandmarkets.com/reports/5939673/financial-services-global-market-report">grow at a CAGR of 7.6%</a> to total $44.93 trillion by 2028.
Major trends in the financial sector include integrating smarter safety systems into financial services, adopting AI and cloud technology, and offering custom and personal services, especially for wealth management. Moreover, the payments industry has experienced a rapid surge in the adoption of EMV technology.
For instance, influential financial institutions, including banks, asset management firms, and insurance providers, are increasingly recognizing the potential of generative AI in several applications within the financial industry, like risk assessment, trading algorithms, fraud detection, <a href="https://www.google.com/search?q=generative+ai+in+financial+sector&amp;oq=generative+AI+in+financial+sector&amp;gs_lcrp=EgZjaHJvbWUqBwgAEAAYgAQyBwgAEAAYgAQyCAgBEAAYFhgeMggIAhAAGBYYHjIICAMQABgWGB4yCAgEEAAYFhgeMggIBRAAGBYYHjIICAYQABgWGB4yCAgHEAAYFhgeMggICBAAGBYYHjINCAkQABiGAxiABBiKBdIBCTEyNTM0ajBqNKgCCLACAQ&amp;sourceid=chrome&amp;ie=UTF-8#:~:text=Generative%20AI%20for,industries%2Din%2Dtransformation">cost reduction, and customer service</a>.
The <a href="https://www.researchandmarkets.com/reports/5939673/financial-services-global-market-report">generative AI in financial services</a> market is expected to register a CAGR of 27.3% from 2024 to 2033.
Besides, the availability of a huge volume of capital in the market and the increasing need for diversification of this capital are primary reasons for the robust growth of the private equity market. According to the IMARC Group, the global private equity market is expected to reach $1.58 trillion by 2032, <a href="https://www.imarcgroup.com/private-equity-market#:~:text=What%20is%20the%20expected%20growth,9.09%25%20during%202024%2D2032.">exhibiting a CAGR of 9.1%</a> during the forecast period.
Now, let's discuss the fundamentals of BX and DFS in detail:
Blackstone Inc. (<a href="https://stocknews.com/stock/BX/">BX</a>)
BX is an alternative asset management company specializing in real estate, private equity, credit, hedge fund solutions, secondary funds of funds, public debt and equity, and multi-asset class strategies. The firm generally invests in early-stage companies and offers capital markets services.
On April 8, 2024, BX and Apartment Income REIT Corp. (<a href="https://stocknews.com/stock/AIRC/">AIRC</a>) entered a definitive agreement under which Blackstone Real Estate Partners X will acquire all outstanding common shares of AIR Communities for $39.12 per share in an all-cash transaction valued at nearly $10 billion.
AIR Communities' portfolio comprises 76 high-quality rental housing communities concentrated mainly in coastal markets, including Miami, Los Angeles, Boston, and Washington D.C. Blackstone intends to invest more than $400 million to maintain and enhance the existing communities within the portfolio, with potential investments to fund further growth.
In terms of forward non-GAAP P/E, BX is trading at 25.03x, 149.9% higher than the industry average of 10.01x. Also, the stock's forward Price/Sales and Price/Cash Flow multiples of 7.10 and 18.75 are higher than the respective industry averages of 2.43 and 10.86.
BX's trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp#:~:text=The%20term%20gross%20profit%20margin,the%20cost%20of%20doing%20business.">gross profit margin</a> of 93.13% is 56% higher than the industry average of 59.70%. Its trailing-12-month ROTA of 3.45% is 217.3% higher than the industry average of 1.09%. However, the stock's trailing-12-month net income margin of 18.10% is 23.9% lower than the industry average of 23.80%.
For the fourth quarter that ended December 31, 2023, BX's total revenues decreased 24.6% year-over-year to $1.29 billion. However, the company's distributable earnings came in at $1.39 billion, up 4% from the prior year's quarter. Its distributable earnings per common share rose 3.7% year-over-year to $1.11.
In addition, the company's adjusted EBITDA grew 6.5% year-over-year to $1.66 billion.
Blackstone is scheduled to release its first-quarter financial results on Thursday, April 18, 2024. Analysts expect BX's revenue for the quarter (ended March 2024) to increase 4.3% year-over-year to $2.59 billion. However, the company's EPS for the same period is expected to decline marginally year-over-year to $0.97.
In addition, BX missed consensus revenue estimates in three of the trailing four quarters, which is disappointing.
BX's stock has gained 15.9% over the past six months to close the last trading session at $121.17. However, the stock has plunged 2.1% over the past month.
BX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its mixed outlook. The stock has an overall rating of C, equating to a Neutral in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
BX has a C grade for Growth, Stability, and Quality. In the <a href="https://stocknews.com/category/private-equity/">Private Equity</a> industry, it is ranked #22 out of 34 stocks.
<a href="https://stocknews.com/stock/BX/">Click here</a> to access additional ratings of BX (Momentum, Value, and Sentiment).
Discover Financial Services (<a href="https://stocknews.com/stock/DFS/">DFS</a>)
DFS offers digital banking products and services, and payment services. The company operates in two segments: Digital Banking and Payment Services. It provides Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products.
On April 9, DFS announced a strategic collaboration with Google Cloud to introduce generative AI technology into its customer care centers. This partnership aims to transform customer and agent service and enhance agent productivity, offering faster, more personalized, and efficient resolutions. This collaboration should bode well for the company.
In terms of forward non-GAAP Price/Sales, DFS is trading at 1.84x, 24.2% lower than the industry average of 2.43x. However, its forward non-GAAP P/E of 10.92x is 9% higher than the 10.01x industry average. The stock's forward Price/Book of 1.85x is 83.5% higher than the industry average of 1.01x.
DFS' trailing-12-month gross profit margin and net income margin of 93.82% and 29.87% are 57.2% and 25.5% higher than the industry averages of 59.70% and 23.80%, respectively. However, the stock's trailing-12-month asset turnover ratio of 0.07x is 67.3% lower than the industry average of 0.21x.
During the fourth quarter that ended December 31, 2023, DFS' total revenue net of interest expense increased 12.8% year-over-year to $4.20 billion. Its total loans ended the quarter at $128.40 billion, up 15% year-over-year. However, its net income and EPS came in at $388 million and $1.54, down 62.1% and 58.8% year-over-year, respectively.
Discover Financial Services is expected to report its first-quarter results on Wednesday, April 17, 2024, after the market closes. Analysts expect DFS' revenue for the quarter (ended March 2024) to increase 8.9% year-over-year to $4.09 billion. However, the consensus EPS estimate of $3 for the same period indicates a decline of 16.2% year-over-year.
For the fiscal year ending December 2024, Street expects the DFS' revenue to grow 3.7% year-over-year to $16.45 billion, but its EPS is expected to decrease 1.7% from the prior year to $11.07. The company failed to surpass consensus EPS estimates in all four trailing quarters.
Shares of DFS have soared 33.6% over the past six months to close the last trading session at $121.31. However, the stock declined 1.6% over the past month.
DFS' mixed fundamentals are reflected in its POWR Ratings. The stock has an overall C rating, translating to a Neutral in our proprietary rating system.
The stock has a C grade for Quality, Value, Sentiment, and Stability. DFS is ranked #38 out of 46 stocks in the <a href="https://stocknews.com/category/consumer-finance/">Consumer Financial Services</a> industry.
In addition to the POWR Ratings I've just highlighted, you can see DFS' ratings for Growth <a href="https://stocknews.com/stock/DFS/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
BX shares were unchanged in premarket trading Tuesday. Year-to-date, BX has declined -6.74%, versus a 6.46% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/bx-dfs-airc-are-blackstone-bx-and-discover-financial-dfs-poised-for-strong/>Are Blackstone (BX) and Discover Financial (DFS) Poised for Strong Earnings?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Are Blackstone (BX) and Discover Financial (DFS) Poised for Strong Earnings?

As the Federal Reserve increased interest rates starting in early 2022, REIT share values fell dramatically.

REITs Are Undervalued – Here's Proof

Blackstone Q1 earnings on deck: What to expect

Blackstone Is Buying REITs Hand Over Fist

An update from Apartment Income REIT (AIRC) is now available. Apartment Income REIT Corp. has announced a merger with a group of buyers, which is e...

Apartment Income REIT Announces Merger and Shareholder Guidance

REIT Earnings Preview: Delay And Pray

BSR REIT: The Next Multifamily M&A Target?

Billionaire Investors Say 'Buy REITs'

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Press Releases

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HRT, ADTH, SWAV, AIRC

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SWAV, AIRC, ABIO, MODN

Small Cap

Kuehn Law Encourages WIRE, MODN, AIRC, and INRD Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates WIRE, AIRC, INRD

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MCBC, SWAV, AIRC, MODN

Kuehn Law Encourages INRD, AIRC, ELYM, and ALPN Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates INRD, AIRC, ELYM, ALPN

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AIRC, ALPN, WIRE

SHAREHOLDER INVESTIGATION NOTICE: Halper Sadeh LLC Investigates MODN, AIRC, INRD, ALPN