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Sep 30
AIMCO Q3 2025 Earnings Report
Aimco concluded its strategic review process, reported third quarter 2025 results, and highlighted recent achievements.
Key Takeaways
Aimco announced the conclusion of its strategic review process, opting for a Plan of Sale and Liquidation, subject to shareholder approval, to maximize shareholder value. The company reported a net income of $302.992 million for Q3 2025, with diluted EPS of $2.04. Stabilized Operating Property NOI decreased by 3.4% year-over-year, while revenue increased by 1.2%.
Aimco's Board of Directors unanimously approved a Plan of Sale and Liquidation, conditioned on shareholder approval in early 2026, to maximize shareholder value through targeted asset sales.
The company estimates total per share distributions of between $5.75 and $7.10 from the sale of remaining assets, including the Brickell Assemblage, which is under contract for $520 million.
Net income attributable to common stockholders per share was $2.04 for the third quarter of 2025.
Stabilized Operating Property NOI for Q3 2025 was $11.6 million, a 3.4% decrease year-over-year, primarily due to a 10.5% increase in expenses, despite a 1.2% increase in revenue.
AIMCO
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AIMCO Revenue by Segment
Revenue by Segment
Stabilized Operating Revenue
CapyFin.com Forward Guidance
Aimco plans to seek shareholder approval in early 2026 for a Plan of Sale and Liquidation, estimating total per share distributions between $5.75 and $7.10 from asset sales. The company expects to voluntarily delist its common shares from the NYSE to reduce operating expenses.
Positive Outlook
- Estimated total per share distributions of $5.75 to $7.10 from asset sales, potentially reaching $8.60 - $9.95 per share when combined with previous special dividends.
- The Plan of Sale and Liquidation aims to accelerate asset sales and establish a tax-efficient manner of monetizing remaining assets.
- No debt maturing prior to June 2027, considering investments under contract to sell and contractual extensions.
- The sale of the Brickell Assemblage for $520 million is targeted for December 2025, with expected net proceeds of approximately $300 million.
- Aimco has returned $2.83 per share to shareholders in special dividends during the calendar year 2025.
Challenges Ahead
- The estimated per share distributions are subject to various assumptions and estimates, including operating costs, liquidation timing, and economic factors, which may not be accurate.
- Shareholder approval is required for the Plan of Sale and Liquidation, which will be sought in early 2026.
- The New York Stock Exchange has discretionary authority to delist Aimco's common shares following shareholder approval of the Proposed Transaction.
- Aimco withdrew prior guidance for revenue, expense, and Property NOI for its Stabilized Operating Properties due to the substantial impact of the Boston transaction.
- The pace of absorption for Upton Place and Strathmore Square slowed, with occupancy stabilization now expected in Q1 2026, later than previously anticipated.