Aimco Files Q3 2024 10-Q
Ticker: AIV · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 922864
| Field | Detail |
|---|---|
| Company | Apartment Investment & Management CO (AIV) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 14 |
| Reading Time | 17 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real-estate, REIT
TL;DR
**Aimco Q3 10-Q is in. Check financials.**
AI Summary
Apartment Investment & Management Co. (Aimco) filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operational status during the third quarter. Key financial metrics and disclosures relevant to its real estate investment trust operations are presented.
Why It Matters
This filing provides investors with a detailed look at Aimco's financial health and operational performance for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a real estate investment trust, Aimco is subject to market fluctuations, interest rate changes, and property-specific risks that can impact its financial performance.
Key Players & Entities
- Apartment Investment & Management Co. (company) — Filer
- Aimco OP L.P. (company) — Subsidiary Filer
- 0000922864 (company) — Central Index Key for Apartment Investment & Management Co.
- 0001820878 (company) — Central Index Key for Aimco OP L.P.
- 20240930 (date) — Period of Report
- 20241107 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending September 30, 2024.
What is the company's Central Index Key (CIK)?
The CIK for Apartment Investment & Management Co. is 0000922864.
What is the company's primary industry classification?
The company is classified under Real Estate Investment Trusts [6798].
Where is the company's principal business address?
The business address is 4582 South Ulster Street, Suite 1450, Denver, CO 80237.
When was the company's name last changed?
The former company name Aimco OP LP had a date of name change on November 3, 2020.
Filing Stats: 4,336 words · 17 min read · ~14 pages · Grade level 18.6 · Accepted 2024-11-07 16:45:51
Filing Documents
- aiv-20240930.htm (10-Q) — 3096KB
- aiv-ex31_1.htm (EX-31.1) — 18KB
- aiv-ex31_2.htm (EX-31.2) — 17KB
- aiv-ex31_3.htm (EX-31.3) — 17KB
- aiv-ex31_4.htm (EX-31.4) — 17KB
- aiv-ex32_1.htm (EX-32.1) — 12KB
- aiv-ex32_2.htm (EX-32.2) — 12KB
- 0000950170-24-123460.txt ( ) — 11456KB
- aiv-20240930.xsd (EX-101.SCH) — 1335KB
- aiv-20240930_htm.xml (XML) — 2425KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Apartment Investment and Management Company: Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Operations (Unaudited) 5 Condensed Consolidated Statements of Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Aimco OP L.P.: Condensed Consolidated Balance Sheets (Unaudited) 9 Condensed Consolidated Statements of Operations (Unaudited) 10 Condensed Consolidated Statements of Partners' Capital (Unaudited) 11 Condensed Consolidated Statements of Cash Flows (Unaudited) 13 Notes to Condensed Consolidated Financial Statements of Apartment Investment and Management Company and Aimco OP L.P. (Unaudited) 14 ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 28 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 40
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1A.
RISK FACTORS
RISK FACTORS 40 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS, AND ISSUER PURCHASES OF EQUITY SECURITIES 40 ITEM 6. EXHIBITS 42
Signatures
Signatures 43 3 Table of Contents
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS APARTMENT INVESTMENT A ND MANAGEMENT COMPANY CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except share data) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Buildings and improvements $ 1,691,608 $ 1,593,802 Land 620,029 620,821 Total real estate 2,311,637 2,214,623 Accumulated depreciation ( 623,913 ) ( 580,802 ) Net real estate 1,687,724 1,633,821 Cash and cash equivalents 82,620 122,601 Restricted cash 27,788 16,666 Notes receivable 58,229 57,554 Right-of-use lease assets - finance leases 108,034 108,992 Other assets, net 103,177 149,841 Total assets $ 2,067,572 $ 2,089,475 LIABILITIES AND EQUITY Non-recourse property debt, net $ 844,779 $ 846,298 Non-recourse construction loans, net 405,840 301,443 Total indebtedness 1,250,619 1,147,741 Deferred tax liabilities 103,180 110,284 Lease liabilities - finance leases 121,277 118,697 Accrued liabilities and other 125,140 121,143 Total liabilities 1,600,216 1,497,865 Redeemable noncontrolling interests in consolidated real estate partnerships 175,309 171,632 Commitments and contingencies (Note 3) Equity ( 510,587,500 shares authorized at both September 30, 2024 and December 31, 2023): Common Stock, $ 0.01 par value, 136,914,387 and 140,576,102 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1,369 1,406 Additional paid-in capital 437,337 464,538 Retained earnings (deficit) ( 208,940 ) ( 116,292 ) Total Aimco equity 229,766 349,652 Noncontrolling interests in consolidated real estate partnerships 49,544 51,265 Common noncontrolling interests in Aimco Operating Partnership 12,737 19,061 Total equity 292,047 419,978 Total liabilities and equity $ 2,067,572 $ 2,089,475 See notes to condensed consolidated financial statements. 4 Tabl