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Aimco boosts bottom-end of full-year guidance

  • Q2 adjusted FFO of $0.50 vs. $0.46 earned in Q2 one year ago.
  • Average rent per apartment of $1,611 up 5.3% Y/Y. Daily average occupancy of 95.9% down 50 basis points. Revenue of $168.5M up 4.2%. Expenses of $52.9M up 4.6%. NOI of $115.6M up 4.1%.
  • Weighted average rent increases of 5.3% vs. 4.6% in Q1.
  • Full-year AFFO per share outlook is boosted to $1.94-$2.02 from $1.92-$2.02. 2015 was $1.88.
  • Conference call tomorrow at 1 ET
  • Previously: Apartment Investment beats by $0.02, beats on revenue (July 28)
  • AIV flat after hours

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Apartment Investment and Management Company