Apartment Invt & Mgmt Co Stock Price, News & Analysis

Apartment Investment and Management Company (Aimco) (NYSE: AIV) has scheduled its 2025 first quarter earnings release for Thursday, May 8, 2025, after market close. The report will be accessible through the Investor Relations section of their website at investors.aimco.com.

Key Company Profile:

• Business Focus: Diversified real estate company specializing in value add and opportunistic investments
• Primary Market: U.S. multifamily sector
• Core Mission: Enhancing real estate investment outcomes through human capital to create value for investors, teammates, and communities
• Stock Exchange: Listed on NYSE under ticker AIV

Investors and interested parties can find additional information about Aimco on their corporate website www.aimco.com.

Aimco (NYSE: AIV) reported Q4 and full-year 2024 results, posting a net loss of $(0.08) per share for Q4 and $(0.75) for the full year. The company's Stabilized Operating Properties generated NOI of $25.9 million in Q4 2024, up 4.5% year-over-year, with full-year NOI at $99.0 million.

Key operational highlights include Q4 average daily occupancy increasing to 97.9%, revenue per home up 2.9% year-over-year, and rents up 3.6% on all transacted leases. The company completed construction on three multifamily assets, including 933 residential units and over 100K sf of commercial space, with costs approximately $10 million below original projections.

For 2025, Aimco projects revenue growth of 3% and expects expenses to increase by 5.5%, resulting in projected full-year NOI growth between 1% to 3%. The company has entered an agreement to sell the Brickell Assemblage for $520 million, expected to generate approximately $300 million in net proceeds.

Apartment Investment and Management Company (NYSE: AIV) has announced it will release its fourth quarter and full year 2024 financial results on Monday, February 24, 2025, after market close. The earnings report will be accessible through the Investor Relations section of Aimco's website at investors.aimco.com.

Aimco operates as a diversified real estate company, with a primary focus on value add and opportunistic investments in the U.S. multifamily sector. The company aims to create substantial value for investors, teammates, and communities through enhanced investment outcomes driven by their human capital.

Land & Buildings Investment Management (L&B), a significant shareholder of Apartment Investment and Management Co. (NYSE: AIV), has called for an immediate sale of the company following recent successful transactions. The announcement comes after Aimco's sale of the Brickell Assemblage for $520 million and the sale of interests in 3333 Biscayne Boulevard and The Hamilton for $204 million.

L&B estimates Aimco's net asset value at $11.50 per share, suggesting a 30% upside potential from current prices. The firm believes a whole company transaction could be completed by mid-2025. According to L&B, Aimco's portfolio is attractive to buyers due to its concentration in the Midwest and Northeast, assumable low-rate mortgage debt, and value-add components.

L&B supports CEO Wes Powell and the board's recent actions but emphasizes that a complete company sale is the only viable path forward, as Aimco is considered subscale and not ideally suited for public markets.

Aimco (NYSE: AIV) has announced the expansion of its strategic process to maximize shareholder value, following a $520 million agreement to sell its Brickell Assemblage properties in Miami. The buyer has made a non-refundable deposit of $38 million, and Aimco plans to return the majority of net proceeds to shareholders.

Post-sale, Aimco's portfolio will consist of over 5,200 apartment homes, nearly 1,000 newly constructed units approaching stabilization, one Miami waterfront development, and a pipeline with 7.7 million square feet of development potential. Since 2020, the company has achieved annual same store NOI growth exceeding 7.6%, completed $1.3 billion in development projects, and will have closed over $1.7 billion in asset sales.

Due to shares trading at a significant discount to estimated private market value, the Board is exploring additional alternatives, including potential sales of business components, accelerated asset sales, or a company sale/merger. Morgan Stanley is serving as financial advisor.

Apartment Investment and Management Company (NYSE: AIV) has completed the sale of two Miami properties for $204 million in Q4 2024. The sale included their interest in 3333 Biscayne Boulevard development site and The Hamilton in the Edgewater neighborhood. The transaction resulted in the retirement of $110 million of debt with an 8.6% weighted average rate and generated net proceeds of $90 million.

Following this sale, Aimco's Board has declared a special cash dividend of $0.60 per share, payable on January 31, 2025, to shareholders of record as of January 14, 2025. The company's CEO, Wes Powell, highlighted this as an important milestone, noting the value creation through redevelopment and planning efforts since their initial 2020 investment in the area.

Apartment Investment and Management Company (NYSE: AIV) reported Q3 2024 results with a net loss of $(0.16) per share. Revenue from Stabilized Operating Properties increased 4.1% year-over-year, with average monthly revenue per apartment reaching $2,415 and occupancy rising to 96.8%. The company began construction on a $240 million ultra-luxury residential tower in Miami and announced agreements to sell two Miami investments for $203.8 million. NOI growth guidance was updated to 2.50%-3.75%. Aimco acquired 4.5 million shares at an average cost of $7.98 per share in 2024. The company plans to return approximately $90 million to stockholders in Q1 2025 following asset sales.

Apartment Investment and Management Company (NYSE: AIV) has scheduled its 2024 third quarter earnings release for Thursday, November 7, 2024, after market close. The earnings report will be accessible through the Investor Relations section of Aimco's website. The company operates as a diversified real estate entity, primarily concentrating on value add and opportunistic investments in the U.S. multifamily sector.

Apartment Investment and Management Company (Aimco) (NYSE: AIV) has announced agreements to sell its interests in two real estate investments in Miami's Edgewater neighborhood for $204 million. The transactions include:

• The Hamilton, a 276-unit waterfront apartment building, for $190 million
• Aimco's partnership interest in a 2.8-acre development site at 3333 Biscayne Boulevard for $13.8 million

The all-cash deals are expected to close by year-end 2024. Aimco plans to retire approximately $110 million of associated liabilities and return about $90 million of capital to stockholders in Q1 2025. Additionally, Aimco is advancing the sales process for its Brickell Assemblage in Miami. CEO Wes Powell stated that the pending sale will crystalize value created during Aimco's ownership and align with their capital allocation plans.