Apartment Invt & Mgmt Co Stock Price, News & Analysis

Land & Buildings Investment Management, a major shareholder of Apartments Investment and Management Company (AIV), expresses growing concerns over the company's slow response to address its significant discount to net asset value (NAV). In an open letter to the Board, they call for an urgent, comprehensive strategic review to explore alternatives that could maximize shareholder value, including a potential sale. Land & Buildings highlights the availability of capital in the market and attractive assumable debt, believing that a proactive approach could reveal multiple interested parties and potentially drive the stock price up by 40% to 60%. They urge the Board to act swiftly, noting that the economic environment remains stable but could change rapidly.

Apartment Investment and Management Company (NYSE: AIV) has appointed Sherry L. Rexroad to its Board of Directors, effective immediately. With 30 years of experience in REITs and finance, Rexroad previously served as CFO of STORE Capital and held significant roles at BlackRock. The board also announced that Robert A. Miller will not seek re-election at the 2023 Annual Meeting. Rexroad’s expertise is expected to enhance Aimco's strategy and shareholder value. Aimco focuses on value-add and opportunistic investments in the U.S. multifamily sector.

Aimco (NYSE: AIV) reported Q4 and FY 2022 results, highlighting strategic actions post its spin-off from AIR Communities. In 2022, Aimco made investments totaling $669 million in apartment projects and exited assets worth nearly $1 billion at an average cap rate of 3.9%. The company’s NOI rose 14.2% year-over-year to over $94 million, with average revenue per apartment home at $2,170. Aimco forecasts 2023 NOI growth of 5-7% and plans to invest $20-25 million in development pipeline projects. Despite facing economic challenges, Aimco remains focused on maximizing shareholder value, maintaining a solid balance sheet, and pursuing accretive investments.

Apartment Investment and Management Company (NYSE: AIV) announced plans to report its Q4 2022 results and provide a 2023 outlook on February 21, 2023, post-market hours. The earnings release will be accessible through the Investor Relations section of its website. Aimco specializes in value-add and alternative investments in the U.S. multifamily sector, aiming to enhance real estate outcomes through human capital.

Apartment Investment and Management Company (NYSE: AIV) announced the resignation of Mr. Terry Considine from its board of directors, acknowledging nearly 30 years of service. Mr. Considine played a pivotal role in the company's history, including its IPO in 1994 and its growth into the largest owner and operator of apartment homes in the U.S. His leadership has been credited with doubling net asset value per share during challenging times. While he will focus on his role as CEO of Apartment Income REIT Corp. (AIR), he remains an Aimco shareholder, expressing confidence in the current management team.

Apartment Investment and Management Company (NYSE: AIV) has announced the appointment of R. Dary Stone as Chairman of the Board, effective February 1, 2023. Mr. Stone, a board member since December 2020, brings extensive experience in real estate and finance. Alongside this leadership change, several committee appointments were made, including Quincy L. Allen as Chairman of the Nominating Committee and Patricia L. Gibson as Chairwoman of the Investment Committee. The Board aims to enhance governance and shareholder value through these changes. Aimco continues to focus on multifamily investments in the U.S. market.

Apartment Investment and Management Company (NYSE: AIV) shareholders have elected Jim Sullivan to the Board of Directors, replacing incumbent Michael Stein. This marks the first contested election conducted under the new universal proxy card voting regulations. Jim Sullivan received over twice as many votes as Stein, signaling shareholder discontent with the current management.

Jonathan Litt, Founder of Land & Buildings, expressed confidence in Sullivan's ability to bring necessary change and accountability to Aimco, enhancing value for shareholders.

Apartment Investment and Management Company (NYSE: AIV) has reported preliminary results from its 2022 Annual Meeting of Stockholders, where stockholders voted to elect nominees Jay Leupp, Dary Stone, and Jim Sullivan to the board. Aimco's management thanked shareholders for their input since the December 2020 spin-off of Apartment Income REIT Corp. The company emphasized its value-creation strategy, which has led to strong total shareholder returns and a solid financial outlook. The final election results will be certified by an independent Inspector of Elections.

Apartment Investment and Management Company (AIV) announced an upcoming Annual Meeting of Stockholders on December 16, 2022. The company is urging investors to vote for its three independent director nominees: Jay Leupp, Michael Stein, and Dary Stone, emphasizing their qualifications and successful strategies since the spin-off of Apartment Income REIT Corp. in December 2020. The statement highlights strong stockholder returns and governance enhancements, including declassifying the Board and adopting best practices. Aimco's management is committed to maximizing stockholder value and engaging with investors.