Benchmark Starts Apartment Investment & Management (AIV) at Hold
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Benchmark Company initiates coverage on Apartment Investment & Management Co. (NYSE: AIV) with a Hold rating, saying valuaiton appears about right with the stock trading at a 12% discount to forward NAV.
Investment positives include: no ground-up development, significant stock repurchaseS
Investment negatives include: below-average portfolio quality, with about one-third in markets that are either non-supply constrained or experiencing job losses, above average amount of risk from fee income including transaction-based revenues and tax credit equity syndication fees.
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Lincoln Place Apts.
H J Moreau on Aug 30, 2008 09:48 AMMulti million $ complex (34 ACRES) in Venice, CA.sitting idle for past 2 years account bad decision by AIMCO,also court decision against AIV illegally evicting tenants.