other material
confidence high
sentiment neutral
materiality 0.50
Aimco updates on asset sales, development pipeline, and capital allocation at REITweek 2024
APARTMENT INVESTMENT & MANAGEMENT CO
- Stabilized NOI up 6.5% in Q1 2024; revenue growth guidance +1.75-3.75% for 2024.
- Marketing Miami waterfront assets (Brickell Assemblage, The Hamilton) for sale; expects to close by end of 2024.
- Since 2022 repurchased 11M shares for $80M; authorization increased to 30M shares.
- Current development projects to complete in 2024, projected average yield ~7% at stabilization.
- 100% of debt fixed or hedged; weighted average cost 5.51%; near-term maturities ~$9M (1% of total).