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Mar 31, 2020
AIMCO Q1 2020 Earnings Report
Same Store NOI was up 5.0%; FFO was up 10%; AFFO was up 9%.
Key Takeaways
Aimco announced first quarter results for 2020, revealing solid AFFO per share of $0.60, a 9% year-over-year increase, and Same Store NOI growth of 5.0%. The company also detailed its response to the COVID-19 pandemic, including measures to ensure the health and safety of teammates and support residents.
Aimco prioritized the health and safety of teammates, adapting work processes and ensuring teammates felt safe at work.
The company focused on making properties safer for customers by increasing cleaning and reducing in-person interactions.
Aimco redeployed staff to support property service teams and assist residents with financial advice, job searches, and errands.
The company reduced expected 2020 capital spending by $150 million and increased available credit by $720 million to enhance financial liquidity.
AIMCO
AIMCO
Forward Guidance
Aimco is expecting that the construction will be completed in the third quarter.