Logo

AIV

Apartment Investment and Management Company

AIV

Apartment Investment and Management Company • NYSE
$5.71 ▲ 0.00% (+0.00)
Market Cap $822.67 M
52w High $9.29
52w Low $5.24
Dividend Yield 2.83%
P/E -6.34
Volume 436.79K
Outstanding Shares 144.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $35.132M ▼ $23.745M ▼ $286.713M ▲ 816.102% ▲ $2.04 ▲ $-49.175M ▼
Q2-2025 $52.758M ▲ $24.161M ▼ $-19.305M ▼ -36.592% ▼ $-0.14 ▼ $22.96M ▲
Q1-2025 $52.352M ▼ $24.601M ▼ $-13.916M ▼ -26.582% ▼ $-0.1 ▼ $22.062M ▼
Q4-2024 $54.171M ▲ $30.197M ▲ $-9.82M ▲ -18.128% ▲ $-0.083 ▲ $32.096M ▲
Q3-2024 $35.328M $29.126M $-21.936M -62.092% $-0.16 $6.538M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $404.379M ▲ $2.077B ▲ $1.822B ▲ $61.988M ▼
Q2-2025 $41.385M ▼ $1.87B ▼ $1.587B ▲ $91.65M ▼
Q1-2025 $49.147M ▼ $1.873B ▼ $1.57B ▼ $110.486M ▼
Q4-2024 $141.072M ▲ $1.957B ▼ $1.645B ▲ $122.957M ▼
Q3-2024 $82.62M $2.068B $1.6B $229.766M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $302.993M ▲ $8.925M ▼ $447.549M ▲ $-99.376M ▼ $357.098M ▲ $-19.332M ▼
Q2-2025 $-16.976M ▼ $9.666M ▲ $-25.989M ▼ $7.351M ▲ $-8.972M ▲ $-16.76M ▼
Q1-2025 $-11.712M ▼ $3.828M ▲ $-19.748M ▼ $-79.799M ▲ $-95.719M ▼ $-15.363M ▲
Q4-2024 $-7.636M ▲ $828K ▼ $144.96M ▲ $-83.24M ▼ $62.548M ▲ $-45.33M ▼
Q3-2024 $-28.835M $16.438M $-35.769M $20.341M $1.01M $-19.571M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Operating Portfolio Segment
Operating Portfolio Segment
 $60.00M ▲$40.00M ▼$40.00M ▲$20.00M ▼
Other Real Estate
Other Real Estate
 $0 ▲$0 ▲$0 ▲$0 ▲
Redevelopmentand Development
Redevelopmentand Development
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has inched up over the last few years and core property profitability has been reasonably steady. However, below the surface, earnings have been volatile. Operating results swung from modest profit to a sizable loss and then back toward roughly breakeven, reflecting the lumpy nature of development projects, asset sales, and one‑time items. EBITDA has remained positive but has trended down, and bottom‑line net income has been negative in most recent years, with meaningful losses and negative earnings per share. Overall, this looks more like a transitional, project‑driven income statement than a stable, income‑oriented REIT profile.

Balance Sheet

Balance Sheet The balance sheet shows a business that has been reshaped and is in wind‑down mode. Total assets peaked and have since edged down, consistent with asset sales and a more focused portfolio. Debt remains high relative to the company’s equity base, and reported equity has shrunk noticeably in the last two years, reflecting losses and distributions tied to the strategic shift and planned liquidation. Cash balances are modest compared with total assets and debt, suggesting continued reliance on asset sales and financing rather than a large cash cushion. As liquidation progresses, both assets and liabilities are likely to keep shrinking.

Cash Flow

Cash Flow Operating cash flow has generally been positive but not especially large, which is typical for a firm focused on development rather than holding a big pool of stabilized, rent‑generating properties. Free cash flow has been consistently negative because the company has invested heavily in new and redevelopment projects, with capital spending outpacing cash generated from operations. This pattern fits a value‑add developer: cash goes out first to build projects and is expected to come back later through sales or refinancing. During the liquidation phase, routine investment spending should decline and cash flows will increasingly reflect asset sale proceeds and capital returns to shareholders rather than recurring operations.

Competitive Edge

Competitive Edge Aimco’s competitive edge comes less from size and more from specialization. It focuses on complex, high‑barrier markets where development is difficult due to regulation, scarcity of land, or complicated approvals. Its strength is in navigating those hurdles, using deep local teams in a few key regions and a developer’s mindset rather than a traditional “buy and hold” REIT model. This can create attractive value when projects work, but it also concentrates risk in fewer, more complex deals and a limited set of markets. With the company now in an orderly liquidation, its long‑term competitive position as an ongoing platform matters less than its ability to execute remaining projects and sales efficiently against competing developers and buyers.

Innovation and R&D

Innovation and R&D The company’s “innovation” is largely about process and strategy, not technology labs or formal R&D. It uses data analytics to choose markets and optimize projects, relies on local investment hubs for on‑the‑ground insight, and maintains in‑house capabilities across development, construction, legal, and finance to handle complex projects end‑to‑end. Capital allocation is flexible and opportunistic rather than tied to a rigid REIT model. Today, the main focus is not on building new long‑term capabilities but on executing a detailed plan of asset monetization and liquidation. Future innovation is therefore mostly about transaction structuring, timing, and disciplined execution, rather than new products or tech‑driven offerings.

Summary

Aimco is no longer a traditional residential REIT; it is a specialized development and value‑add platform that has pivoted toward an orderly sale and liquidation of its assets. The past few years show modestly growing revenue but volatile and mostly negative net earnings, a balance sheet with significant leverage and shrinking equity, and cash flows dominated by investment spending on development projects. Its strengths lie in handling complex, high‑barrier markets with experienced local teams and flexible, opportunistic deal‑making. The central story from here is not long‑term growth, but how effectively the company can complete remaining projects, sell its portfolio, manage its debt, and convert its development work into cash returns while navigating market conditions and transaction risk.

NEWS

November 12, 2025 · 8:24 AM UTC

AIV Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale and Liquidation of Apartment Investment and Management Company is Fair to Shareholders

Read more

November 10, 2025 · 4:46 PM UTC

Aimco Announces Conclusion of Strategic Review Process, Reports Third Quarter 2025 Results and Recent Highlights

Read more

November 3, 2025 · 4:20 PM UTC

Aimco Announces Third Quarter 2025 Earnings Date

Read more

September 15, 2025 · 5:17 PM UTC

Aimco Completes the Sale of Four Suburban Boston Assets and Announces Special Dividend

Read more