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Apartment Investment and Management Company - AIV STOCK NEWS

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About Apartment Investment and Management Company (Aimco) (NYSE: AIV)

Aimco, a self-managed real estate investment trust, is one of the United States’ leading apartment home providers, dedicated to delivering top-quality living experiences to its residents. Focused on the multifamily market, Aimco specializes in property development, redevelopment, and other value-creating investment strategies. The company operates through its three primary segments: Development and Redevelopment, Operating, and Other, with the majority of its revenue generated from the Operating segment. Aimco’s investment strategy targets value-add, opportunistic projects, and alternative investments, enhancing outcomes through its highly skilled team.

Apart from managing and investing in residential properties, Aimco frequently engages in strategic partnerships and transactions to optimize its portfolio and enhance shareholder value. Recently, the company announced significant transactions including the sale of a 20% position in its Parkmerced mezzanine loan investment for $33.5 million, with an option for the purchaser to acquire the remaining 80% for $134 million plus interest. Aimco has so far monetized $91.5 million of its Parkmerced investments.

The company's commitment to reducing exposure to passive investments and focusing on core markets has been evident in its financial maneuvers. Aimco has also successfully refinanced high-cost debt and increased its liquidity to enhance financial stability. As of June 30, 2023, Aimco's net leverage stood strong, with a well-balanced debt portfolio that includes fixed-rate and interest rate-capped floating-rate debts.

Aimco’s recent financial performance has been robust, with the stabilized operating properties reporting notable growth in net operating income, driven by high demand and favorable pricing strategies. Aimco’s CEO, Wes Powell, has emphasized the company’s ongoing efforts to maintain a solid balance sheet, reduce capital allocations to alternative investments, and strategically unlock value through selective asset sales and reinvestments.

Aimco’s mission is to create substantial value for its investors, employees, and the communities it serves, leveraging its human capital to achieve superior investment outcomes. The company is headquartered in Denver, Colorado, and operates with a national presence, focusing new investment activities in Southeast Florida, the Washington D.C. Metro Area, and Colorado’s Front Range.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Aimco (NYSE: AIV) reported strong fourth-quarter results for 2023, with a 9.3% increase in net operating income. The company invested $234 million in development projects, delivering over 350 new units. Aimco also sold a 20% stake in Parkmerced mezzanine loan, resulting in proceeds of $91.5 million. The company repurchased 6.2 million shares in 2023, and the balance sheet remains solid with limited near-term maturities.
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National Storage Affiliates Trust (NSA) appointed Lisa R. Cohn to its Board, bringing extensive experience as a cross-functional leader and General Counsel. Ms. Cohn's background in REITs adds valuable diversity to the board. NSA will participate in Citi's 2024 Global Property CEO Conference in March.
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FAQ

What is the current stock price of Apartment Investment and Management Company (AIV)?

The current stock price of Apartment Investment and Management Company (AIV) is $8.74 as of November 20, 2024.

What is the market cap of Apartment Investment and Management Company (AIV)?

The market cap of Apartment Investment and Management Company (AIV) is approximately 1.2B.

What is Aimco’s primary business focus?

Aimco primarily focuses on value-add, opportunistic, and alternative investments targeting the U.S. multifamily market.

How does Aimco generate most of its revenue?

The majority of Aimco's revenue is generated from its Operating segment, which includes the operation of its apartment communities.

What recent transactions has Aimco undertaken?

Aimco recently sold a 20% position in its Parkmerced mezzanine loan investment for $33.5 million, with an option for the purchaser to acquire the remaining 80%.

What is Aimco’s strategy for debt and financial stability?

Aimco focuses on maintaining a strong balance sheet with a mix of fixed-rate and interest rate-capped floating-rate debts, proactively refinancing high-cost debt to enhance stability.

What are Aimco’s plans for future development projects?

Aimco plans to reduce capital allocation to new developments but will continue to invest in its pipeline projects, focusing on high-return, strategic investments.

Who is the current CEO of Aimco?

Wes Powell is the President and Chief Executive Officer of Aimco.

Where is Aimco headquartered?

Aimco is headquartered in Denver, Colorado, with a national presence.

What is Aimco’s investment philosophy?

Aimco aims to create substantial value for investors through strategic investments, leveraging its human capital and focusing on favorable markets and high-barrier-to-entry opportunities.

How does Aimco enhance value in its investments?

Aimco enhances value through effective asset management, redevelopment, strategic dispositions, and by leveraging local market knowledge and expertise.

What financial metrics demonstrate Aimco’s recent performance?

Recent performance metrics include significant NOI growth in stabilized properties and successful strategic asset sales, indicating robust financial health and strategic execution.

Apartment Investment and Management Company

NYSE:AIV

AIV Rankings

AIV Stock Data

1.25B
129.11M
8.52%
86.34%
2.25%
REIT - Residential
Real Estate Investment Trusts
Link
United States of America
DENVER