Dennis Huspeni
Reporter – Denver Business Journal
Email
| Facebook
| Twitter
| Real Deals blog
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: dhuspeni@bizjournals.com. Phone: 303-803-9232.
See all your followed company news on your personalized dashboard.
To access the full benefits of bizWatch and receive a weekly email with aggregated news on all the companies you are following, please provide your email address below.
You must have a bizjournals account to follow a company.
Please Log In or Register.
Article source: http://www.bizjournals.com/denver/news/2012/02/08/aimcos-earnings-rise-in-fourth-quarter.html
