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Apartment Investment & Management (AIV)

Aimco is a Real Estate Investment Trust focused on property development, redevelopment and various other value-creating investment strategies, targeting the U.S multifamily market. Aimco is traded on the New York Stock Exchange as AIV.

Company profile

Ticker
AIV
Exchange
Website
CEO
Terry Considine
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
AIMCO PROPERTIES, L.P. • AIMCO-GP, INC. • AIMCO/BETHESDA HOLDINGS, INC. • 1001 BB DRIVE, LLC • 1001 BRICKELL BAY DRIVE, LLC • AF HOTEL PARCEL LESSEE, LLC • AF HOTEL PARCEL LESSOR, LLC • AF HOTEL PARCEL OPPORTUNITY FUND, LP • AF HOTEL PARCEL OPPORTUNITY ZONE BUSINESS, LP • AIC REIT PROPERTIES LLC ...
IRS number
841259577

AIV stock data

Calendar

9 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 177.62M 177.62M 177.62M 177.62M 177.62M 177.62M
Cash burn (monthly) 22.32M 4.81M (no burn) 2.4M (no burn) (no burn)
Cash used (since last report) 68.43M 14.74M n/a 7.37M n/a n/a
Cash remaining 109.19M 162.89M n/a 170.26M n/a n/a
Runway (months of cash) 4.9 33.9 n/a 70.9 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 May 22 Leupp Jay P Class A Common Stock Buy Acquire P Yes No 6.3145 2,145 13.54K 2,145
4 Feb 22 Quincy Allen Class A Common Stock Grant Acquire A No No 0 12,355 0 50,389
4 Feb 22 Deborah Smith Stock Option Class A Common Stock Grant Acquire A No No 6.79 111,843 759.41K 111,843
4 Feb 22 Robert A. Miller Stock Option Class A Common Stock Grant Acquire A No No 6.79 111,843 759.41K 111,843
4 Feb 22 Leupp Jay P Class A Common Stock Grant Acquire A No No 0 21,621 0 73,855
91.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 176 198 -11.1%
Opened positions 16 32 -50.0%
Closed positions 38 26 +46.2%
Increased positions 63 62 +1.6%
Reduced positions 59 61 -3.3%
13F shares Current Prev Q Change
Total value 1.02B 1.06B -3.3%
Total shares 139.9M 137.14M +2.0%
Total puts 50.8K 176.2K -71.2%
Total calls 242.3K 231.7K +4.6%
Total put/call ratio 0.2 0.8 -72.4%
Largest owners Shares Value Change
Vanguard 22.19M $162.43M +3.6%
TROW T. Rowe Price 19.9M $145.69M -9.0%
BLK Blackrock 14.75M $107.98M -6.2%
JPM JPMorgan Chase & Co. 11.71M $85.69M -11.8%
Long Pond Capital 9.98M $73.05M +5.6%
Sessa Capital IM 9.93M $72.7M +60.0%
STT State Street 7.51M $54.96M +7.8%
GS Goldman Sachs 5.91M $43.27M +53.0%
Geode Capital Management 3.04M $22.29M +4.0%
Solel Partners 2.95M $21.56M NEW
Largest transactions Shares Bought/sold Change
Sessa Capital IM 9.93M +3.72M +60.0%
Solel Partners 2.95M +2.95M NEW
GS Goldman Sachs 5.91M +2.05M +53.0%
TROW T. Rowe Price 19.9M -1.96M -9.0%
JPM JPMorgan Chase & Co. 11.71M -1.57M -11.8%
Norges Bank 0 -1.43M EXIT
Toscafund Asset Management 1.22M +1.22M NEW
Verition Fund Management 0 -1.16M EXIT
BLK Blackrock 14.75M -975.33K -6.2%
TCW 1.4M +879.47K +169.2%

Financial report summary

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Risks
  • Adverse economic and geopolitical conditions, health crises and dislocations in the credit markets could affect our ability to collect rents and late fees from tenants, and our ability to evict tenants, in addition to having other negative effects on our business, which in turn could adversely affect our financial condition and results of operations.
  • We do not have control over the partnership owning the Parkmerced Apartments, the operation of which could adversely affect our financial condition and results of operations.
  • Development, redevelopment, and construction risks could affect our profitability.
  • Failure to generate sufficient net operating income may adversely affect our liquidity, limit our ability to fund necessary capital expenditures, or adversely affect our ability to pay dividends or distributions.
  • Our ability to continue to grow or maintain our pipeline of development and redevelopment opportunities may be constrained.
  • Our development projects may subject us to certain liabilities, and we are subject to risks associated with developing properties in partnership with others.
  • Government regulations and legal challenges may delay the start or completion of the development of our communities, increase our expenses or limit our building of apartments or other activities.
  • Competition could limit our ability to lease apartment homes, increase or maintain rents or execute our development strategy.
  • Potential liability or other expenditures associated with potential environmental contamination may be costly.
  • Rent control laws and other regulations that limit our ability to increase rental rates may negatively impact our rental income and profitability.
  • Laws benefiting disabled persons may result in our incurrence of unanticipated expenses.
  • Moisture infiltration and resulting mold remediation may be costly.
  • Although we are insured for certain risks, the cost of insurance, increased claims activity, or losses resulting from casualty events may affect our financial condition and results of operations.
  • Natural disasters and severe weather may affect our financial condition and results of operations.
  • We depend on our senior management.
  • We rely on AIR to manage a majority of our properties. If AIR fails to efficiently manage such properties, tenants may not renew their leases, or we may become subject to unforeseen liabilities.
  • In addition to property management services, we depend on AIR to support certain of our property’s operations, and any adverse changes in the financial health of AIR or our relationship with it could hinder AIR’s ability to successfully manage our operations.
  • Our business and operations would suffer in the event of significant disruptions or cyberattacks of our information technology systems or our failure to comply with laws, rules and regulations related to privacy and data protection.
  • Third Party Purchase or Offer Rights, such as in our Master Leasing Agreement, may discourage third parties from negotiating with us with respect to the sale of our real property.
  • There may be, or there may be the appearance of, conflicts of interest in our relationship with AIR.
  • Our business could be negatively affected as a result of the actions of activist stockholders.
  • Our debt financing could result in foreclosure of our apartment communities, prevent us from making distributions on our equity, or otherwise adversely affect our liquidity.
  • Disruptions in the financial markets could affect our ability to obtain financing and the cost of available financing and could adversely affect our liquidity.
  • Covenant restrictions may limit our operations and impact our ability to make payments to our investors.
  • We may increase leverage in executing our development plan, which could further exacerbate the risks associated with our substantial indebtedness.
  • We may be unable to achieve some or all of the benefits that we expect to achieve from the Separation.
  • The Separation could give rise to disputes or other unfavorable effects, which could materially and adversely affect our business, financial position or results of operations.
  • Following the Separation, we may be unable to make, on a timely or cost-effective basis, the changes necessary to operate as an independent company.
  • Aimco may be subject to federal, state, and local income taxes in certain circumstances.
  • Dividends payable by REITs generally do not qualify for the reduced tax rates available for some dividends.
  • Complying with the REIT requirements may cause Aimco to forgo otherwise attractive business opportunities.
  • Changes to United States federal income tax laws could materially and adversely affect Aimco and Aimco’s stockholders.
  • There are restrictions on the ability to transfer and redeem Aimco Operating Partnership Units, there is no public market for Aimco Operating Partnership Units and holders of Aimco Operating Partnership Units are subject to dilution.
  • Cash distributions by Aimco Operating Partnership are not guaranteed and may fluctuate with partnership performance.
  • Holders of Aimco OP Units have limited voting rights and are limited in their ability to effect a change of control.
  • Holders of OP Units may not have limited liability in specific circumstances.
  • Aimco may have conflicts of interest with holders of OP Units.
  • Aimco Operating Partnership and its subsidiaries may be prohibited from making distributions and other payments.
Management Discussion
  • The results from the execution of our business plan during the twelve months ended December 31, 2021, are described below.

Content analysis

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