Aimco (AIV) Reports In-Line Q3 FFO; Bumps Outlook
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Aimco Reports Third Quarter 2015 Results, Raises Guidance
November 3, 2015 4:05 PM ESTDENVER--(BUSINESS WIRE)-- Apartment Investment and Management Company (Aimco) (NYSE: AIV) announced today third quarter 2015 results and raised its full year 2015 guidance.
Chairman and Chief Executive Officer Terry Considine comments: "Aimco enjoyed a solid third quarter. With higher rents and good cost control, Same Store Net Operating Income was up 5.4% year-over-year. At $1,810, average revenue per apartment home was up 10% year-over-year, reflecting both rent growth and portfolio improvements. Construction on redevelopment and development properties was satisfactory and lease-up rents were better than expected. Our balance sheet is strong. Our prospects are... More
