Aimco reports Q3 EPS (2c) vs 19c

Reports Q3 revenue $47.7M vs $47.683M last year. Wes Powell, Aimco President and Chief Executive Officer, comments: “Thank you for your interest in Aimco. The apartment business remains on sound footing and Aimco is well positioned given the composition of our assets and the quality of our investment platform. Our diversified portfolio of apartment communities located within neighborhoods that have largely avoided the pressure of competitive new supply, has continued to generate strong performance and has experienced NOI growth of nearly 20% over the past 18 months. During the third quarter, average monthly revenues per apartment home increased by 7.2% on a year-over-year basis and we have increased our full year NOI guidance by more than 100 basis points at the midpoint.”