Reporter – Denver Business Journal
Denver-based Apartment Investment and Management Co
. (Aimco) reported increased funds from operations (FFO) Wednesday with the release of its fourth-quarter earnings.
Aimco (NYSE: AIV) earned $52.5 million, or 43 cents per diluted share, for the fourth quarter of 2011. That’s up year-over-year from $41.4 million, or 35 cents per share, in Q4 2010.
The real estate investment trusts’ officials stated the growth stemmed from “higher income from discontinued operations and a modest rise in rental revenues.”
Analysts predicted an FFO of 41 cents per share, according to Thomson Reuters.
FFO is a common measure of profitability for REITs.
The company also declared a quarterly cash dividend of 18 cents per share on its Class A common stock. That’s a 50 percent increase from the year-ago period.
The full report is here.
Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog. Email: email@example.com. Phone: 303-803-9232.
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