Will Escalating Supply Hurt Aimco (AIV) In Q3 Earnings?
Zacks Investment Research | Oct 22, 2017 10:37PM ET
Apartment Investment & Management Co. (NYSE:AIV) — commonly known as Aimco — is slated to report third-quarter 2017 results on Oct 26, after the market closes. While its funds from operations (FFO) per share are expected to grow year over year, revenues might witness a decline.
Last quarter, FFO of this residential real estate investment trust (REIT) surpassed the Zacks Consensus Estimate. Results display growth in same-store property NOI and increased contribution from development, redevelopment and acquisition communities. Lesser general and administrative costs, lower interest expense and other expenses also contributed to higher funds from operations. However, this positive was partially offset by the loss of income from apartment sales in 2016, reduced earnings from exiting the Asset Management business and lower tax benefits.
Nevertheless, Aimco has a mixed earnings surprise history. Over the trailing four quarters, the company surpassed the Zacks Consensus Estimate in one occasion, reported in-line numbers in two and missed the mark in another. Overall, Aimco witnessed an average negative surprise of 0.03%. This is depicted in the chart below:
Apartment Investment and Management Company Price and EPS Surprise
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