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Sep 30, 2023
AIMCO Q3 2023 Earnings Report
Announced third quarter results for 2023, updated guidance, and provided highlights on recent and planned activities.
Key Takeaways
AIMCO reported third quarter results for 2023, with a net loss attributable to common stockholders per share of $(0.02). Stabilized Operating Properties saw revenue increase by 6.4% and NOI increase by 7.6% year-over-year. The company updated its full year 2023 guidance for Stabilized Property Operations, raising NOI guidance by more than 100 basis points at the midpoint.
Net loss attributable to common stockholders per share was $(0.02) for the quarter ended September 30, 2023.
Third Quarter 2023 revenue, expenses, and NOI from Aimco’s Stabilized Operating Properties were up 6.4%, 3.5%, and 7.6%, respectively, year-over-year.
Aimco updated full year 2023 guidance related to Stabilized Property Operations.
Aimco acquired 1.7 million shares of its common stock during the third quarter 2023 at an average cost of $7.52 per share.
Forward Guidance
Aimco updated its full year 2023 guidance related to Stabilized Property Operations.
Positive Outlook
- Revenue growth, before utility reimbursements: 8.25% - 8.75%
- Net operating income (NOI) growth: 9.00% - 9.75%
Challenges Ahead
- Net income (loss) per share – diluted: $(0.21) - $(0.11)
- Operating Expense Growth, net of utility reimbursements: 5.75% - 6.75%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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