NYSE$AIV
Apartment Investment and Management Co · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
AIMCO's financial performance was mixed, with a net loss per share due to a non-cash impairment charge, but stabilized operating properties showed strong revenue and NOI growth.
AIMCO reported a net loss per share of $(1.34) for Q4 2022, primarily due to a non-cash impairment charge related to the Parkmerced mezzanine investment. However, revenue and NOI from stabilized operating properties increased by 9.5% and 10.0%, respectively. The company continued to invest in development projects and repurchased shares.
- Net loss per share was $(1.34) due to a non-cash impairment charge.
- Revenue from stabilized operating properties increased by 9.5% year-over-year.
- NOI from stabilized operating properties increased by 10.0% year-over-year.
- Average revenue per apartment home was $2,170, up $215 year-over-year.
Headline financials
Revenue & EPS history
AIMCO · Revenue · Quarterly
$42M
Forward guidance
Aimco provided its 2023 outlook, forecasting net loss per share between $(0.33) and $(0.23). Revenue growth for operating properties is expected to be between 5.0% and 7.0%, with NOI growth also between 5.0% and 7.0%.
Tailwinds
- Complete the construction and lease up of The Hamilton with NOI stabilization projected to occur in 2024
- Deliver initial single family rental homes and begin the lease-up of Oak Shore with NOI stabilization projected to occur in 2025
- Deliver initial apartment homes and begin the lease-up of Upton Place with NOI stabilization projected to occur in 2026
- Complete construction and welcome its first guests to The Benson Hotel and Faculty Club with NOI stabilization projected to occur in 2026
- Aimco will continue to repurchase shares when prices are significantly below our internal estimated net asset value.
Headwinds
- Net income (loss) per share – diluted $(0.33) - $(0.23)
- Operating Expense Growth, net of utility reimbursements 5.25% - 7.25%
- Interest Expense, net of capitalization $39 - $42 million
- Aimco is planning to exit the California market over time
- There can be no assurance that the ongoing review will result in any transaction or other change or outcome.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2022
+0.3%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.7%
Avg return
30 days after
50%
25 / 50 earnings
Positive
+11.0%
Q4 2020
Best reaction
-9.7%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | -1.2% | -31.8% | |
| Q4 2025 | +3.2% | -21.3% | -29.2% | |
| Q3 2025 | +6.0% | +5.2% | +6.7% | |
| Q1 2025 | -1.5% | -0.3% | +4.3% | |
| Q4 2024 | +0.1% | +1.3% | -3.1% | |
| Q3 2024 | -1.6% | -0.8% | +0.0% | |
| Q2 2024 | -2.6% | -2.5% | -0.7% | |
| Q1 2024 | -1.2% | -1.9% | -3.5% | |
| Q4 2023 | -6.9% | -7.4% | +1.9% | |
| Q3 2023 | +1.3% | -0.2% | +12.3% | |
| Q2 2023 | +0.9% | +1.0% | -7.3% | |
| Q1 2023 | +3.4% | +9.8% | +12.0% | |
| Q4 2022 | -3.2% | -0.9% | -9.2% | |
| Q3 2022 | -3.5% | +3.1% | +7.9% | |
| Q2 2022 | +8.4% | +13.2% | +14.7% | |
| Q1 2022 | -9.7% | -3.2% | +4.0% | |
| Q4 2021 | +2.5% | +2.5% | +2.5% | |
| Q3 2021 | -0.4% | +1.4% | +0.3% | |
| Q2 2021 | -1.5% | -1.9% | +2.4% | |
| Q1 2021 | +4.2% | +3.6% | +5.9% | |
| Q4 2020 | +11.0% | +12.0% | +22.4% | |
| Q3 2020 | +5.6% | -10.7% | +1.9% | |
| Q2 2020 | -5.8% | -4.6% | -5.5% | |
| Q1 2020 | +5.0% | -1.7% | +17.2% | |
| Q4 2019 | -0.6% | +0.3% | -9.8% | |
| Q3 2019 | +1.2% | -1.8% | -1.5% | |
| Q2 2019 | +1.4% | +1.0% | +2.9% | |
| Q1 2019 | +1.4% | -0.5% | +1.2% | |
| Q4 2018 | +0.6% | +0.4% | +0.4% | |
| Q3 2018 | +1.1% | +4.1% | +9.4% | |
| Q2 2018 | +2.4% | +1.5% | +2.4% | |
| Q1 2018 | -0.2% | -0.5% | +1.3% | |
| Q4 2017 | -3.1% | -5.3% | -8.2% | |
| Q3 2017 | +1.5% | +0.6% | +2.4% | |
| Q2 2017 | +3.1% | +3.9% | +4.3% | |
| Q1 2017 | -2.5% | -3.8% | -3.7% | |
| Q4 2016 | +2.8% | +3.4% | +5.0% | |
| Q3 2016 | -0.6% | +1.2% | -4.8% | |
| Q2 2016 | +5.0% | +3.1% | +1.2% | |
| Q1 2016 | -0.4% | — | — | |
| Q4 2015 | -6.6% | — | — | |
| Q3 2015 | -4.4% | — | — | |
| Q2 2015 | -1.4% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | -2.7% | — | — | |
| Q3 2014 | +4.4% | — | — | |
| Q2 2014 | -2.2% | — | — | |
| Q1 2014 | +1.7% | — | — | |
| Q3 2013 | -1.9% | — | — | |
| Q2 2013 | -1.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro