Aimco Reports Second Quarter Results, Updates Guidance, and Provides Highlights on Recent Activities

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Aimco's Q2 2024 results show a mixed financial picture. The company reported a net loss of $0.43 per share, primarily due to a non-cash impairment charge related to its IQHQ investment. However, there are positive signs in the core business:

NOI from Stabilized Operating Properties increased by 4.1% year-over-year
Average monthly revenue per apartment home rose 4.4% to $2,392
Full-year NOI growth guidance was raised to 1.50% to 2.75%

The company's focus on capital allocation is evident through its share repurchase program and potential asset sales. While the net loss is concerning, the underlying property performance and strategic initiatives suggest Aimco is positioning itself for future growth.

Aimco's development pipeline shows promising progress. Key highlights include:

Upton Place in D.C. is substantially complete with 240 of 689 units leased at rates above underwriting
Strathmore Square in Bethesda has delivered 175 of 220 units
Oak Shore in Corte Madera has delivered 13 of 24 planned residences

The company is reducing its development exposure, which could improve its risk profile. The potential sale of Miami assets (Brickell Assemblage and The Hamilton) could unlock significant value. However, the lack of specific pricing or timeline information creates uncertainty. The 96.3% average daily occupancy and 65.8% renewal rate indicate strong demand for Aimco's properties, supporting the company's focus on its core multifamily business.

Aimco's market positioning appears solid, with a focus on high-barrier markets and a diversified portfolio across eight major U.S. locations. The $126,000 median annual household income of new residents and 20.0% rent-to-income ratio suggest a resilient tenant base. The company's strategic shift towards simplifying its portfolio and potentially returning capital to shareholders could enhance its appeal to investors. However, the broader economic environment presents challenges:

Rising interest rates may impact financing costs
Inflationary pressures are evident in the 5.7% year-over-year expense increase
Potential recession risks could affect rental demand

Aimco's focus on value-add and opportunistic investments, coupled with its strong balance sheet ($259.4 million in liquidity), positions it well to navigate market uncertainties.

08/07/2024 - 04:15 PM

DENVER, Aug. 7, 2024 /PRNewswire/ -- Apartment Investment and Management Company ("Aimco") (NYSE: AIV) announced today second quarter results for 2024, updated guidance, and provided highlights on recent and planned activities.

Financial Results and Highlights

Aimco's net loss attributable to common stockholders per share, on a fully dilutive basis, was $(0.43) for the quarter ended June 30, 2024, due primarily to a non-cash impairment charge related to its passive equity investment in IQHQ.
Second quarter 2024 revenue, expenses, and net operating income ("NOI") from Aimco's Stabilized Operating Properties increased 4.6%, 5.7%, and 4.1%, respectively, year-over-year, with average monthly revenue per apartment home increasing by 4.4% to $2,392.
During the second quarter, construction of Aimco's Strathmore Square and Oak Shore development projects advanced on plan. Aimco has substantially completed construction at Upton Place in Upper Northwest Washington, D.C. and, as of July 31, 2024, had leased 240 of the 689 units at rates ahead of underwriting.
Aimco acquired 3.0 million shares of its common stock during the second quarter at an average cost of $8.02 per share.

CEO Commentary

Wes Powell, Aimco President and Chief Executive Officer, comments: "In the second quarter, Aimco continued to produce solid results and made steady progress toward our 2024 plans and objectives.

"Aimco's diversified portfolio of apartment communities continued to perform well during the second quarter with NOI up 4.1% year-over-year. Nearly 66% of residents whose leases were expiring signed renewals during the quarter and average monthly revenue per apartment home grew by 4.4% to $2,392. With the majority of 2024's leasing transactions now complete, and considering the strong performance to date, we have revised our full year guidance and now expect revenue to grow between 3.25% and 3.75% and expenses to increase between 6.00% and 7.50%, resulting in NOI growth of between 1.50% to 2.75%, an increase of more than 100 basis points at the mid-point.

"Our active development projects are progressing on schedule and on budget. Year-to-date, through July, the Aimco team has brought more than 600 new apartment homes online and executed more than 250 new leases across those projects. Our current class of development projects are expected to be fully delivered by year end with NOI stabilization projected to occur during 2026. We continue to advance planning efforts in anticipation of select new project starts. Consistent with our stated guidance, total Aimco equity allocated to development and related activities is projected to be substantially reduced when compared to prior years.

"Together with our brokerage teams we continue to advance efforts related to the marketing and sale of our two-property assemblage in Miami's Brickell neighborhood and The Hamilton, our recently completed redevelopment in Miami's Edgewater neighborhood. While we do not plan to comment on specific pricing, terms or timelines until definitive agreements have been executed and deposits have become nonrefundable, we remain committed to unlocking the value embedded within these assets and prudently allocating the net proceeds, with a preference for returning capital to stockholders.

"We continue to believe that Aimco shares represent an accretive use of excess capital and, as of July 31, 2024, had repurchased 4.2 million shares year-to-date at an average price of $7.93 per share.

"Aimco's strong performance is the result of the good work produced by a talented and engaged team, whom I am thankful to work alongside, and from the diligent oversight provided by an experienced Board of Directors. Above all else, we are committed to creating and unlocking value for Aimco stockholders."

Operating Property Results

Aimco owns a diversified portfolio of operating apartment communities located in eight major U.S. markets with average rents in line with local market averages.

Results at Aimco's Stabilized Operating Properties were as follows:

	Second Quarter					Year-to-Date
Stabilized Operating Properties	Year-over-Year			Sequential		Year-over-Year
($ in millions)	2024	2023	Variance	1Q 2024	Variance	2024	2023	Variance
Average Daily Occupancy	96.3 %	96.2 %	0.1 %	97.9 %	(1.6) %	97.1 %	97.1 %	—
Revenue, before utility reimbursements	$38.7	$37.0	4.6 %	$38.6	0.2 %	$77.3	$73.7	5.0 %
Expenses, net of utility reimbursements	12.2	11.5	5.7 %	11.5	5.6 %	23.7	22.7	4.3 %
Net operating income (NOI)	26.5	25.5	4.1 %	27.1	(2.2) %	53.7	51.0	5.3 %

Revenue in the second quarter 2024 was $38.7 million, up 4.6% year-over-year, resulting from a 4.4% increase in average monthly revenue per apartment home to $2,392 and a 10-basis point increase in Average Daily Occupancy to 96.3%.
Effective rents on all leases during the second quarter 2024 were 3.5% higher, on average, than the previous lease and 65.8% of residents whose leases were expiring signed renewals.
The median annual household income of new residents was $126,000 in the second quarter 2024, representing a rent-to-income ratio of 20.0%.
Expenses in the second quarter 2024 were up 5.7% year-over-year primarily due to higher real estate taxes.
NOI in the second quarter 2024 was $26.5 million, up 4.1% year-over-year.
Year to date, as of July 31, 2024, effective rents on all transacted leases were 3.7% higher, on average, than the previous lease.

Value Add and Opportunistic Investments

Development and Redevelopment

Aimco generally seeks development and redevelopment opportunities where barriers to entry are high, target customers can be clearly defined, and Aimco has a comparative advantage over others in the market. Aimco's value add and opportunistic investments may also target portfolio acquisitions, operational turnarounds, and re-entitlements.

As of June 30, 2024, Aimco had two multifamily development projects under construction, a multifamily community that has been substantially completed and is now in lease-up, and a hotel that was completed in 2023 and is being stabilized. These projects remain on track, as measured by construction budget and lease-up metrics. Additionally, Aimco has a pipeline of future value add opportunities totaling approximately 13 million gross square feet of development in Aimco's target markets of Southeast Florida, the Washington D.C. Metro, and Colorado's Front Range.

During the second quarter, $29.8 million of capital was invested in Aimco's development and redevelopment activities, primarily funded through construction loan draws. Updates on active development projects and Aimco's pipeline include:

In Upper Northwest Washington D.C., construction at Upton Place is substantially complete. As of July 31, 2024, Aimco has delivered all 689 apartment homes with 240 units leased or pre-leased and 150 homes occupied, at rates ahead of our initial projections. Additionally, as of July 31, 2024, approximately 88% of the project's 105K square feet of retail space had been leased with tenant fit-out ongoing.
In Bethesda, Maryland, construction is progressing on plan at the first phase of Strathmore Square, which will contain 220 highly tailored apartment homes in two buildings. As of July 31, 2024, Aimco had delivered 175 apartment homes, leased 40 units at rates ahead of our initial projections, and welcomed residents into their new homes.
In Corte Madera, California, construction is ongoing at Oak Shore where 16 luxury single-family rental homes and eight accessory dwelling units are being developed. As of July 31, 2024, 13 of the residences had been delivered, seven were occupied and Aimco had pre-leased another two at rates ahead of our initial projections.
In the second quarter 2024, Aimco invested $3.3 million into programming, design, documentation, and entitlement efforts related to select pipeline projects located in South Florida and on the Anschutz Medical Campus in Aurora, Colorado. Consistent with Aimco's capital allocation strategy, it may choose to monetize certain of these assets prior to vertical construction in an effort to maximize value add and risk-adjusted returns.

Investment & Disposition Activity

Aimco is focused on prudently allocating capital and delivering strong investment returns. Consistent with Aimco's capital allocation philosophy, it monetizes the value within its assets when accretive uses of the proceeds are identified and invests when the risk-adjusted returns are superior to other uses of capital.

Aimco is currently marketing three assets for sale in the Miami market: 1001 and 1111 Brickell Bay Drive (The Brickell Assemblage) and The Hamilton. Our respective brokerage teams remain in active discussions with interested parties and continue to solicit offers. Aimco does not intend to comment on specific pricing, terms or timelines until definitive agreements have been executed and buyers' deposits have become nonrefundable.

Balance Sheet and Financing Activity

Aimco is highly focused on maintaining a strong balance sheet, including ample liquidity. As of June 30, 2024, Aimco had access to $259.4 million, including $88.5 million of cash on hand, $20.9 million of restricted cash, and the capacity to borrow up to $150.0 million on its revolving credit facility.

Aimco's net leverage as of June 30, 2024, was as follows:

	as of June 30, 2024
Aimco Share, $ in thousands	Amount		Weighted Avg. Maturity (Yrs.) [1]
Total non-recourse fixed rate debt	$	774,474		6.7
Total non-recourse floating rate debt		90,660		1.3
Total non-recourse construction loan debt		337,539		1.6
Cash and restricted cash		(108,995)
Net Leverage	$	1,093,678

[1] Weighted average maturities presented exclude contractual extension rights.

As of June 30, 2024, 100% of Aimco's total debt was either fixed rate or hedged with interest rate cap protection and, including contractual extensions, Aimco has only $9.4 million, or less than 1% of its total debt, maturing prior to May 2026.

Public Market Equity

Common Stock Repurchases

In the second quarter, Aimco repurchased 3.0 million shares of its common stock at a weighted average price of $8.02 per share. As of July 31, 2024, Aimco had repurchased 4.2 million shares, year-to-date, at an average cost of $7.93 per share and since the start of 2022, Aimco had repurchased 13.8 million shares at an average cost of $7.48 per share.
In the second quarter, approximately 14,395 units of the Aimco Operating Partnership's equity securities were redeemed in exchange for cash at a weighted average price per unit of $7.99. Year to date, approximately 51,302 units were redeemed in exchange for cash at a weighted average price per unit of $7.81.

Commitment to Enhance Stockholder Value

The Aimco Board of Directors, in coordination with management, remains intently focused on maximizing and unlocking value for Aimco stockholders and continues to engage regularly with several leading advisory firms, including Morgan Stanley & Co. LLC.

Aimco's announced plans to reduce exposure to development activity and monetize certain assets represent a commitment to simplify the portfolio and unlock embedded value when there are opportunities to do so. These efforts will further improve Aimco's positioning in the market and provide increased flexibility as the Board of Directors continues its review and consideration of broader strategic actions to maximize stockholder value. In addition, in conjunction with our contemplated asset sales, we will prioritize return of capital to our stockholders as a key component of our capital allocation philosophy.

There can be no assurance that the ongoing review will result in any particular transaction or transactions or other strategic changes or outcomes and the timing of any such event is similarly uncertain. The Company does not intend to disclose or comment on developments related to the foregoing unless or until it determines that further disclosure is appropriate or required.

2024 Outlook

	2Q 2024		2024	2024
$ in millions (except per share amounts), Square Feet in millions Forecast is full year unless otherwise noted	YTD Results		Forecast	Prior Forecast
Net income (loss) per share – diluted [1]		$(0.50)	$(0.80) - $(0.75)	$(0.50) - $(0.40)

Operating Properties
Revenue Growth, before utility reimbursements		5.0 %	3.25% - 3.75%	1.75% - 3.75%
Operating Expense Growth, net of utility reimbursements		4.3 %	6.00% - 7.50%	6.00% - 8.00%
Net Operating Income Growth		5.3 %	1.50% - 2.75%	-0.75% - 2.75%
Recurring Capital Expenditures		$7	$11 - $13	$11 - $13

Active Developments and Redevelopments
Total Direct Costs of Projects in Occupancy Stabilization at Period End [2]		$68	$648	$648
Total Direct Costs of Projects Under Construction at Period End [2]		$580	$0 - $250	$0 - $250
Direct Project Costs		$49.0	$70 - $100	$70 - $100
Other Capitalized Costs		$14.5	$18 - $20	$15 - $20
Construction Loan Draws [3]		$62.4	$88 - $90	$85 - $90
JV Partner Equity Funding		$0	$0 - $25	$0 - $25
AIV Equity Funding [4]		$1.1	$0 - $5	$0 - $5

Pipeline Projects
Pipeline Size Gross Square Feet at Period End [5]		13.3	9.5 - 13.3	9.5 - 13.3
Pipeline Size Multifamily Units at Period End [5]		5,972	4,358 - 5,972	4,358 - 5,972
Pipeline Size Commercial Sq Ft at Period End [5]		1.7	1.2 - 1.7	1.2 - 1.7
Planning Costs		$4.1	$5 - $10	$8 - $15

Real Estate Transactions
Acquisitions		None	None	None
Dispositions [6]		None	See Below	See Below

General and Administrative		$16.1	$33 - $35	$33 - $35

Leverage
Interest Expense, net of capitalization [7]		$23.0	$56 - $58	$52 - $57


[1]	Net income (loss) per share - diluted does not include any gains associated with potential transactions in 2024.
[2]	Includes land or leasehold value.
[3]	Construction loan draws at Aimco share in first half of 2024 were $53.8 million.
[4]	Full year AIV equity funding is expected to be between $0 and $5 million. Quarter-end balances may fluctuate depending on timing of construction loan draws.
[5]	Includes pipeline projects as presented on Supplemental Schedule 5b.
[6]	While Aimco does not provide specific guidance related to future transactions, in the first half of 2024, Aimco brought to market its Brickell Assemblage, a two-property waterfront assemblage located in Miami, Florida, and The Hamilton, its recently completed waterfront redevelopment in Miami's Edgewater neighborhood.
[7]	Includes GAAP interest expense, exclusive of the amortization of deferred financing costs, and reduced by interest rate option payments which are included in the Realized and unrealized gains (losses) on interest rate options line on Aimco's income statement.

Supplemental Information

The full text of this Earnings Release and the Supplemental Information referenced in this release are available on Aimco's website at investors.aimco.com.

Glossary & Reconciliations of Non-GAAP Financial and Operating Measures

Financial and operating measures found in this Earnings Release and the Supplemental Information include certain financial measures used by Aimco management that are measures not defined under accounting principles generally accepted in the United States, or GAAP. Certain Aimco terms and Non-GAAP measures are defined in the Glossary in the Supplemental Information and Non-GAAP measures reconciled to the most comparable GAAP measures.

About Aimco

Aimco is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Aimco's mission is to make real estate investments where outcomes are enhanced through our human capital so that substantial value is created for investors, teammates, and the communities in which we operate. Aimco is traded on the New York Stock Exchange as AIV. For more information about Aimco, please visit our website www.aimco.com.

Team and Culture

Aimco has a national presence with corporate headquarters in Denver, Colorado and Washington, D.C. Our investment platform is managed by experienced professionals based in three regions, where it will focus its new investment activity: Southeast Florida, the Washington D.C. Metro Area and Colorado's Front Range. By regionalizing this platform, Aimco can leverage the in-depth local market knowledge of each regional leader, creating a comparative advantage when sourcing, evaluating, and executing investment opportunities.

Above all else, Aimco is committed to a culture of integrity, respect, and collaboration.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations. Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. The forward-looking statements in this document include, without limitation, statements regarding our future plans and goals, including our pipeline investments and projects, our plans to eliminate certain near term debt maturities, our estimated value creation and potential, our timing, scheduling and budgeting, projections regarding revenue and expense growth, our plans to form joint ventures, our plans for new acquisitions or dispositions, our strategic partnerships and value added therefrom, the potential for adverse economic and geopolitical conditions, which negatively impact our operations, including on our ability to maintain current or meet projected occupancy, rental rate and property operating results; the effect of acquisitions, dispositions, developments, and redevelopments; our ability to meet budgeted costs and timelines, and achieve budgeted rental rates related to our development and redevelopment investments; expectations regarding sales of our apartment communities and the use of proceeds thereof; the availability and cost of corporate debt; and our ability to comply with debt covenants, including financial coverage ratios. We caution investors not to place undue reliance on any such forward-looking statements.

These forward-looking statements are based on management's judgment as of this date, which is subject to risks and uncertainties that could cause actual results to differ materially from our expectations, including, but not limited to: the risk that the 2024 plans and goals may not be completed, as expected, in a timely manner or at all; geopolitical events which may adversely affect the markets in which our securities trade, and other macro-economic conditions, including, among other things, rising interest rates and inflation, which heightens the impact of the other risks and factors described herein; real estate and operating risks, including fluctuations in real estate values and the general economic climate in the markets in which we operate and competition for residents in such markets; national and local economic conditions, including the pace of job growth and the level of unemployment; the amount, location and quality of competitive new housing supply; the timing and effects of acquisitions, dispositions, developments and redevelopments; expectations regarding sales of apartment communities and the use of proceeds thereof; insurance risks, including the cost of insurance, and natural disasters and severe weather such as hurricanes; supply chain disruptions, particularly with respect to raw materials such as lumber, steel, and concrete; financing risks, including the availability and cost of financing; the risk that cash flows from operations may be insufficient to meet required payments of principal and interest; the risk that earnings may not be sufficient to maintain compliance with debt covenants, including financial coverage ratios; legal and regulatory risks, including costs associated with prosecuting or defending claims and any adverse outcomes; the terms of laws and governmental regulations that affect us and interpretations of those laws and regulations; and possible environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of apartment communities presently owned by us.

In addition, our current and continuing qualification as a real estate investment trust involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, as amended (the "Code") and depends on our ability to meet the various requirements imposed by the Code through actual operating results, distribution levels and diversity of stock ownership.

Readers should carefully review Aimco's financial statements and the notes thereto, as well as the section entitled "Risk Factors" in Item 1A of Aimco's Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent Quarterly Reports on Form 10-Q and other documents Aimco files from time to time with the SEC. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

These forward-looking statements reflect management's judgment and expectations as of this date, and Aimco undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Consolidated Statements of Operations (in thousands, except per share data) (unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
REVENUES:
Rental and other property revenues	$	51,148	$	45,674	$	101,350	$	89,942

OPERATING EXPENSES:
Property operating expenses		22,557		18,783		43,756		36,287
Depreciation and amortization		22,110		17,031		41,578		33,302
General and administrative expenses		7,577		7,890		16,126		16,293
Total operating expenses		52,244		43,704		101,460		85,882

Interest income		2,535		2,478		5,183		4,536
Interest expense [1]		(16,820)		(9,656)		(30,190)		(19,381)
Realized and unrealized gains (losses) on interest rate options		640		3,383		2,312		2,326
Realized and unrealized gains (losses) on equity investments [2]		(47,264)		1,094		(47,535)		1,231
Gains on dispositions of real estate		-		1,878		-		1,878
Other income (expense), net		(1,286)		(1,420)		(2,876)		(4,872)
Income (loss) before income tax benefit		(63,291)		(273)		(73,216)		(10,222)
Income tax benefit (expense)		2,188		417		4,917		4,613
Net income (loss)		(61,103)		144		(68,299)		(5,609)
Net (income) loss attributable to redeemable noncontrolling interests in consolidated real estate partnerships		(3,598)		(3,576)		(7,158)		(6,849)
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships		811		(348)		827		(613)
Net (income) loss attributable to common noncontrolling interests in Aimco Operating Partnership		3,364		178		3,918		652
Net income (loss) attributable to Aimco	$	(60,526)	$	(3,602)	$	(70,712)	$	(12,419)

Net income (loss) attributable to common stockholders per share – basic	$	(0.43)	$	(0.02)	$	(0.50)	$	(0.09)
Net income (loss) attributable to common stockholders per share – diluted	$	(0.43)	$	(0.02)	$	(0.50)	$	(0.09)

Weighted-average common shares outstanding – basic		139,816		144,195		140,205		145,007
Weighted-average common shares outstanding – diluted		139,816		144,195		140,205		145,007


[1]	Interest expense increased in the three and six months ended June 30, 2024 from the same periods ending June 30, 2023, due primarily to increased construction loan draws and reduced capitalization as development projects are advanced and completed.
[2]	In the second quarter 2024, realized and unrealized losses on equity investments were $47.3 million primarily due to a non-cash impairment charge related to its passive equity investment in IQHQ.

Consolidated Balance Sheets (in thousands) (unaudited)

	June 30,		December 31,
	2024		2023
Assets
Buildings and improvements	$	1,657,258	$	1,593,802
Land		620,246		620,821
Total real estate		2,277,504		2,214,623
Accumulated depreciation		(602,375)		(580,802)
Net real estate		1,675,129		1,633,821
Cash and cash equivalents		88,539		122,601
Restricted cash		20,859		16,666
Notes receivable		57,660		57,554
Right-of-use lease assets - finance leases		108,353		108,992
Other assets, net		106,574		149,841
Total assets	$	2,057,114	$	2,089,475

Liabilities and Equity
Non-recourse property debt, net	$	845,237	$	846,298
Non-recourse construction loans, net		366,078		301,443
Total indebtedness		1,211,315		1,147,741
Deferred tax liabilities		106,537		110,284
Lease liabilities - finance leases		120,353		118,697
Accrued liabilities and other		126,155		121,143
Total liabilities		1,564,360		1,497,865

Redeemable noncontrolling interests in consolidated real estate partnerships		174,849		171,632

Equity:
Common Stock		1,372		1,406
Additional paid-in capital		439,168		464,538
Retained earnings (deficit)		(187,004)		(116,292)
Total Aimco equity		253,536		349,652
Noncontrolling interests in consolidated real estate partnerships		50,280		51,265
Common noncontrolling interests in Aimco Operating Partnership		14,089		19,061
Total equity		317,905		419,978
Total liabilities and equity	$	2,057,114	$	2,089,475

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SOURCE Apartment Investment and Management Company (Aimco)

FAQ

What was Aimco's (AIV) net loss per share in Q2 2024?

Aimco (AIV) reported a net loss of $(0.43) per share for Q2 2024, primarily due to a non-cash impairment charge related to its passive equity investment in IQHQ.

How much did Aimco's (AIV) revenue from Stabilized Operating Properties grow in Q2 2024?

Aimco's (AIV) revenue from Stabilized Operating Properties increased by 4.6% year-over-year in Q2 2024.

What is Aimco's (AIV) revised full-year 2024 guidance for NOI growth?

Aimco (AIV) revised its full-year 2024 guidance for NOI growth to 1.50% to 2.75%, an increase of more than 100 basis points at the mid-point.

How many shares did Aimco (AIV) repurchase in Q2 2024?

Aimco (AIV) repurchased 3.0 million shares of its common stock during Q2 2024 at an average cost of $8.02 per share.

Aimco Reports Second Quarter Results, Updates Guidance, and Provides Highlights on Recent Activities

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What was Aimco's (AIV) net loss per share in Q2 2024?

How much did Aimco's (AIV) revenue from Stabilized Operating Properties grow in Q2 2024?

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How many shares did Aimco (AIV) repurchase in Q2 2024?

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