Aimco raises 2024 NOI guidance; plans asset sales to fund shareholder returns

APARTMENT INVESTMENT & MANAGEMENT CO

YTD NOI +5.3%; FY revenue guidance raised to +3.25-3.75%; NOI mid-point up >100 bps.
Marketing Miami waterfront assets (The Hamilton, Yacht Club, 1001 Brickell) for sale.
Since 2022 repurchased 14M shares for $104M; prioritizing further return of capital.
100% of debt fixed/hedged; avg cost 5.56%; only ~$9M maturities through May 2026.
Developments on track for 2024 completion; $648M invested, expected $44M NOI at stabilization.

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