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Aimco Reports Second Quarter Results, Updates Guidance, and Provides Highlights on Recent Activities
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.
Apartment Investment and Management Company has and continues to grow a premier multifamily rental property portfolio in growing markets throughout the U.S. AIV's robust development pipeline will enable the Company to grow revenues and NOI much faster than its peers in the industry. We initiate with a Buy rating and an $11.20 price target.
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