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Private company

Apartment Income REIT Corp.

Apartment Income REIT Corp. is a self-administered and self-managed real estate investment trust.1 It is headquartered in Denver, Colorado.1

Last updated Oct 21, 2026.

Overview

  • IndustryReal Estate Investment Trusts1
  • HeadquartersDenver, Colorado1
  • Incorporated inMD2
  • Business address4582 S. Ulster Street, Suite 1700, Denver, Co 802372
  • Filer categoryLarge accelerated filer2

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AIR is a self-administered and self-managed real estate investment trust. AIR owns, through its wholly-owned subsidiaries, the general partner interest and special limited partner interest in AIR Operating Partnership. The AIR Operating Partnership owns all of the assets and owes all of the liabilities of the AIR enterprise and manages the daily operations of AIR’s business. The AIR Operating Partnership conducts all of the business of AIR, which is focused on the ownership of stabilized multi-family properties located in top markets including eight important geographic concentrations: Boston; Philadelphia; Washington, D.C.; Miami; Denver; the San Francisco Bay Area; Los Angeles; and San Diego. Please refer to Note 16 to the consolidated financial statements in Item 8 for discussion regarding our segments.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

77.4%Net margin4
6.0%Revenue growth, 20234
27.0%Return on equity4
1.37×Debt to equity4

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Other costs6¢$52.9M
  • Interest16¢$129.7M
  • Income tax0¢$2.4M
  • Profit77¢$635.1M

Out of $820.0M in revenue.4

Where each dollar of operating cash went, fiscal 2023

  • Dividends paid68¢$266.1M
  • Share buybacks32¢$124.4M

Out of $370.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.4

Financial statements

Revenue5674$820.0M in 2023−2% since 2018
0$250.0M$500.0M$750.0M$1.0B2018: $840.2M$840.2M20182019: $770.6M$770.6M2019−8%2020: $719.6M$719.6M2020−7%2021: $740.9M$740.9M2021+3%2022: $773.7M$773.7M2022+4%2023: $820.0M$820.0M2023+6%
Operating income67$127.5M in 2022+1% since 2019
-$50.0M0$50.0M$100.0M$150.0M2019: $125.7M$125.7M20192020: -$17.9M-$17.9M20202021: $107.2M$107.2M20212022: $127.5M$127.5M2022+19%
Net income5674$635.1M in 2023−5% since 2018
-$500.0M0$500.0M$1.0B2018: $666.2M$666.2M20182019: $474.1M$474.1M2019−29%2020: -$104.1M-$104.1M20202021: $447.6M$447.6M20212022: $904.4M$904.4M2022+102%2023: $635.1M$635.1M2023−30%
Fiscal year2017201820192020202120222023
Revenue$840.2M5$770.6M6$719.6M7$740.9M4$773.7M4$820.0M4
Cost of revenue$249.0M7$268.1M7$261.3M7
Operating expenses$633.6M4$646.2M4$669.8M4
Operating income$125.7M6-$17.9M7$107.2M7$127.5M7
Interest$179.8M5$144.3M6$147.0M7$129.5M4$116.5M4$129.7M4
Income before tax$474.0M4$974.0M4$691.7M4
Income tax-$13.3M5$305.0K6$95.4M7-$5.2M4$3.9M4$2.4M4
Net income$666.2M5$474.1M6-$104.1M7$447.6M4$904.4M4$635.1M4
Earnings per share$5.385$3.916-$0.857$2.904$5.864$4.294
Earnings per share (diluted)$5.375$3.906-$0.857$2.894$5.814$4.274
Shares (weighted, basic)154.1M shares4154.1M shares4147.9M shares4
Shares (weighted, diluted)154.5M shares4156.6M shares4150.2M shares4

Compare Apartment Income REIT Corp. with another company

Corporate structure

Apartment Income REIT Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Apartment Income REIT Corp.

  • JPMorgan Chase Filed SC 13G/A on Apartment Income REIT Corp., latest May 8, 2024 (2 filings since Jan 8, 2024)
  • Cohen & Steers Filed SC 13G/A on Apartment Income REIT Corp., latest Feb 14, 2024 (4 filings since Feb 14, 2022)
  • PRINCIPAL REAL ESTATE INVESTORS LLC Filed SC 13G/A on Apartment Income REIT Corp., latest Feb 13, 2024 (3 filings since Feb 15, 2023)
  • VANGUARD GROUP INC Filed SC 13G/A on Apartment Income REIT Corp., latest Feb 13, 2024 (3 filings since Feb 9, 2022)
  • State Street Corporation Filed SC 13G/A on Apartment Income REIT Corp., latest Jan 30, 2024 (2 filings since Feb 10, 2023)
  • BlackRock Filed SC 13G/A on Apartment Income REIT Corp., latest Jan 23, 2024 (5 filings since Jan 26, 2022)
  • FMR LLC Filed SC 13G/A on Apartment Income REIT Corp., latest Feb 9, 2022
  • Apartment Income REIT Corp. Denver, Colorado

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Apartment Income REIT Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$1.3B4 Dec 31, 2023$1.3B4 Dec 31, 2022−0.4%
Operating-lease assets (leased space)$114.7M4 Dec 31, 2023$126.0M4 Dec 31, 2022−9.0%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$5.4B4 Dec 31, 2023$5.6B4 Dec 31, 2022−4.6%
Real estate investments, at cost$7.6B4 Dec 31, 2023$8.1B4 Dec 31, 2022−5.8%
Real estate accumulated depreciation$2.2B4 Dec 31, 2023$2.4B4 Dec 31, 2022−8.3%
Units in real estate properties20,8864 Dec 31, 2023

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$91.4M4 Dec 31, 2023$95.8M4 Dec 31, 2022−4.6%
Stakes in other companies (equity method)$04 Dec 31, 2023$158.7M4 Dec 31, 2022−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$32.3M4 Dec 31, 2023$32.3M4 Dec 31, 20220%

Leadership

Who has led Apartment Income REIT Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Terry Considine2020–2024

Chair

  1. Terry Considine2020

President

  1. Keith M. Kimmel2020–2024
  2. Lisa R. Cohn2020–2024

Chief financial officer

  1. Paul Beldin2020–2024
2025
Board members and other officers (18)

Former names

  • AIMCO-LP, Inc.Aug 13, 2020 to Sep 30, 20202

Timeline

  1. Jul 1, 20248-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale32
  2. Jun 25, 20248-K Shareholder vote; Other events33
  3. Jun 25, 20248-K Bylaws or fiscal year changed; Regulation FD disclosure34
  4. Jun 14, 20248-K Regulation FD disclosure35
  5. Jun 14, 20248-K Other events36
  6. May 6, 20248-K Other events37
  7. Apr 19, 20248-K Regulation FD disclosure38
  8. Apr 12, 20248-K Bylaws or fiscal year changed39
  9. Apr 9, 20248-K Entered a material agreement; Bylaws or fiscal year changed; Regulation FD disclosure40
  10. Apr 8, 20248-K Other events41
  11. Feb 28, 20248-K Regulation FD disclosure42
  12. Feb 14, 20248-K Director nominations; Regulation FD disclosure43
  13. Dec 1, 2020New chief executive Terry Considine becomes CEO11

Calendar

When it reported results

  1. Feb 8, 2024Reported quarterly or annual results44
  2. Nov 2, 2023Reported quarterly or annual results45
  3. Jul 27, 2023Reported quarterly or annual results46
  4. May 2, 2023Reported quarterly or annual results47
  5. Feb 9, 2023Reported quarterly or annual results48
  6. Nov 4, 2022Reported quarterly or annual results49
  7. Jul 29, 2022Reported quarterly or annual results50
  8. May 2, 2022Reported quarterly or annual results51

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

195 filings to the SEC since October 2021: 4 annual reports, 8 quarterly reports, 50 major events, 84 insider forms, 20 large holders, 29 other. The latest 20:

  1. Jul 8, 202415-12G EDGAR
  2. Jul 5, 2024EFFECT EDGAR
  3. Jul 2, 20244 EDGAR
  4. Jul 2, 20244 EDGAR
  5. Jul 2, 20244 EDGAR
  6. Jul 2, 20244 EDGAR
  7. Jul 2, 20244 EDGAR
  8. Jul 2, 20244 EDGAR
  9. Jul 2, 20244 EDGAR
  10. Jul 2, 20244 EDGAR
  11. Jul 2, 20244 EDGAR
  12. Jul 2, 20244 EDGAR
  13. Jul 2, 20244 EDGAR
  14. Jul 2, 20244 EDGAR
  15. Jul 2, 20244 EDGAR
  16. Jul 2, 20244 EDGAR
  17. Jul 1, 20248-K EDGAR
  18. Jun 28, 2024POS AM EDGAR
  19. Jun 28, 2024S-8 POS EDGAR
  20. Jun 28, 2024S-8 POS EDGAR

The 195 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

23 open-market trades by officers, directors and large owners since October 2021: 13 buys and 10 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 23, 2024Bohjalian Thomas NDirectorBuy750$31.00$23.2KForm 4
Feb 14, 2024Bohjalian Thomas NDirectorBuy889$31.50$28.0KForm 4
Mar 22, 2023Murphy Devin IgnatiusDirectorBuy2,500$34.00$85.0KForm 4
Mar 17, 2023Rayis John DDirectorBuy1,000$34.48$34.5KForm 4
Mar 15, 2023Kimmel Keith MPres. of Property OperationsSale8,000$35.75$286.0KForm 4
Sep 22, 2022Murphy Devin IgnatiusDirectorBuy500$39.50$19.8KForm 4
May 5, 2022Rayis John DDirectorBuy1,000$46.80$46.8KForm 4
May 5, 2022O'Grady MatthewSenior Vice PresidentBuy543$46.04$25.0KForm 4
May 5, 2022Minix JoshuaExecutive Vice PresidentBuy548$45.54$25.0KForm 4
Mar 25, 2022Beldin PaulEVP & CFOSale14,500$52.84$766.2KForm 4
Mar 17, 2022Kimmel Keith MPres. of Property OperationsSale11,000$52.91$582.0KForm 4
Mar 11, 2022Murphy Devin IgnatiusDirectorBuy2,000$52.45$104.9KForm 4
Mar 1, 2022Rayis John DDirectorBuy500$50.52$25.3KForm 4
Feb 28, 2022Bohjalian Thomas NDirectorBuy2,000$51.65$103.3KForm 4
Feb 18, 2022Rayis John DDirectorBuy500$51.44$25.7KForm 4
Feb 16, 2022Sperling AnnDirectorBuy758$52.67$39.9KForm 4
Jan 31, 2022COHN LISA RPresident & General CounselSale16,000$52.28$836.5KForm 4
Dec 31, 2021CONSIDINE TERRYCEOSale26,108$55.00$1.4MForm 4
Dec 31, 2021CEOSale32,225$54.97$1.8MForm 4
Dec 30, 2021CEOSale37,500$54.59$2.0MForm 4

All 23 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Apartment Income REIT Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARApartment Income REIT Corp.1
  • CIK0001820877
  • Filer statusLarge accelerated filer1
  • Incorporated inMaryland1
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address4582 S. Ulster Street, Suite 1700, Denver, CO 802371
  • Phone(303) 757-81011
  • Shares outstanding145,104,221 as of May 6, 202410
  • Public float$5.4B as of Jun 30, 202359
  • On EDGAR sinceAug 13, 20201
  • Filings287 in all: 4 (95), 8-K (64), 3 (21), SC 13G/A (16), DEFA14A (15), 10-Q (10), SC 13G (9), CORRESP (6)1
    All 35 form types

    UPLOAD (6), 10-K (4), 11-K (4), S-8 (4), S-8 POS (4), 424B3 (3), DEF 14A (3), 10-K/A (2), DRS (2), EFFECT (2), 10-12B (1), 10-12B/A (1), 15-12G (1), 25-NSE (1), 4/A (1), 424B2 (1), CERT (1), DEFM14A (1), DRS/A (1), DRSLTR (1), POS AM (1), POSASR (1), PRE 14A (1), PREM14A (1), S-11 (1), S-3ASR (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Feb 16, 2024
    Quarterly report (10-Q) May 8, 2024
    Proxy statement (DEF 14A) Aug 2, 2023
    Latest 8-K (8-K) Jul 1, 2024

Sources

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