Apartment Investment Management: Fourth Quarter Earnings Overview

Apartment Investment and Management Co. Reports Fourth-Quarter Profit

Denver-based Apartment Investment and Management Co. (AIV) announced on Monday that it achieved a net profit of $300.5 million for the fourth quarter, reversing a loss from the same period last year.

The company reported earnings of $2.08 per share for the quarter. When excluding discontinued operations, adjusted earnings were $1.06 per share.

During the quarter, the real estate investment trust generated $34.6 million in revenue.

For the full year, AIV posted a net income of $554 million, or $3.87 per share, marking a return to profitability. Total revenue for the year reached $138.5 million.

At the close of trading on Monday, AIV shares were priced at $4.39, compared to $9.05 at the same time last year.