AIV - Aimco posts Q4 loss after spinning off Apartment Income REIT

Apartment Investment and Management (AIV), also known as Aimco, posts a Q4 net loss of 10 cents per share vs. a loss of 1 cent in the year-ago quarter.Q4 total revenue of $38.6M vs. $38.2M a year ago.AIV falls 1.4% in premarket trading.In December, Aimco spun off Apartment Income REIT so the resulting company could focus on developing and redeveloping apartment communities.For the year, net operating income for the operating portfolio decreased by 1.8% Y/Y; average revenue per occupied unit at its operating multifamily communities was $1,873, up 0.1% Y/Y."Operating metrics for our portfolio of apartment properties trended in a positive direction during the fourth quarter and investor demand remains strong, reflecting the relative health and resilience of the U.S. multifamily sector," said President and CEO Wes Powell.However, the company provided no Q4 metrics in its 2020 earnings release and limited Q4 measures in its 10-K annual report.

For further details see:

Aimco posts Q4 loss after spinning off Apartment Income REIT