Apartment Invt & Mgmt Co Stock Price, News & Analysis

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.

Apartment Investment and Management Company (Aimco) (NYSE: AIV) has secured $56 million in preferred equity from Sixth Street for a luxury waterfront rental development in Miami, Florida. The project, located at 560-640 NE 34th Street, will be a 38-story tower with 114 luxury rental units averaging over 2,500 square feet each. Apollo provided an additional $172 million in senior construction financing.

The development will feature high-end amenities, ~7k square feet of ground floor retail space, and unobstructed views of Biscayne Bay. Aimco will serve as the developer and asset manager. This project aims to capitalize on Miami's strong macroeconomic growth and increasing in-migration, positioning it as a unique rental offering in the rapidly evolving Edgewater submarket.

Apartment Investment and Management Company (Aimco) (NYSE: AIV) reported Q2 2024 results and updated guidance. Key points:

- Net loss of $(0.43) per share due to non-cash impairment charge
- Revenue from Stabilized Operating Properties up 4.6% YoY
- NOI from Stabilized Operating Properties up 4.1% YoY
- Average monthly revenue per apartment home up 4.4% to $2,392
- Revised full-year guidance: revenue growth 3.25-3.75%, NOI growth 1.50-2.75%
- Repurchased 3.0M shares at average $8.02 per share in Q2
- Advancing sale efforts for Miami properties
- Development projects progressing on schedule and budget

Aimco remains focused on unlocking shareholder value through portfolio simplification, asset monetization, and capital return to shareholders.

Apartment Investment and Management Company (Aimco) (NYSE: AIV) has announced its plans to report 2024 second quarter results on Wednesday, August 7, 2024, after the market closes. The earnings release will be available in the Investor Relations section of Aimco's website at investors.aimco.com.

Aimco is a diversified real estate company primarily focused 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 its human capital-enhanced real estate investments. Aimco is traded on the New York Stock Exchange under the ticker symbol AIV.

Aimco announced first quarter results for 2024, reporting a net loss per share of $(0.07) compared to $(0.06) in 2023. Revenue, expenses, and NOI from Stabilized Properties increased. Aimco acquired 0.9 million shares of its common stock. CEO highlighted progress in development projects and plans to sell assets to unlock value. Operating Property Results showed revenue growth and increased rents. Aimco invested in development projects and plans to market for sale certain assets. Balance sheet remains strong with access to $290.4 million. Aimco repurchased shares and is committed to enhancing stockholder value.

Apartment Investment and Management Company (Aimco) announced the release date for their 2024 first-quarter earnings. Aimco focuses on value-add and opportunistic investments in the U.S. multifamily sector. The company aims to create substantial value for investors, teammates, and communities where they operate. Aimco is listed on the NYSE as AIV.