Blackstone Bet Spurs Biggest Apartment-Stock Jump in Four Months [BNN Bloomberg (Canada)]
Apartment Income REIT Corp. (AIRC)
Company Research
Source: BNN Bloomberg
An index tracking the group rose over 4%, the largest one-day jump since mid-December, after Blackstone said it plans to acquire Apartment Income REIT for roughly $10 billion. While the industry's shares remain well below their early 2022 peak, the gain erased this year's losses and was seen as bolstering investors' confidence in the sector. The planned purchase follows Blackstone's agreement in January to buy the single-family-home landlord Tricon Residential Inc. for $3.5 billion, and Blackstone President Jon Gray previously told investors that “real estate values are bottoming.” BTIG analyst Michael Gorman said Blackstone's decision “is likely to spur additional bullish sentiment for the group beyond the current supply wave impacting fundamentals.” The rally was led by Apartment Income REIT, which jumped as much as 23% to $38.53, just shy of the $39.12 per-share purchase price. But the broader sector also advanced, with all 13 members of Bloomberg's apartment real estate inv
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AIRC
News
- STOCKHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – INRD, AIRC, MODN, ABIOGlobeNewswire
- Kuehn Law Encourages INRD, AIRC, ELYM, and ALPN Investors to Contact Law FirmGlobeNewswire
- BSR REIT: The Next Multifamily M&A Target? [Seeking Alpha]Seeking Alpha
- BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Shockwave Medical, Inc. (Nasdaq – SWAV), Apartment Income REIT Corp. (NYSE - AIRC), Model N, Inc. (NYSE – MODN), ARCA biopharma, Inc. (Nasdaq - ABIO)GlobeNewswire
- Blackstone Buys Apartment Income REIT: Value Investors Rejoice [Seeking Alpha]Seeking Alpha
AIRC
Earnings
- 2/8/24 - Miss
AIRC
Sec Filings
- 4/29/24 - Form 10-K/A
- 4/19/24 - Form DEFA14A
- 4/19/24 - Form 8-K
- AIRC's page on the SEC website