Aimco Q1 FFO Up - Quick Facts

(RTTNews) - Apartment Investment and Management Company (AIV) Thursday reported first-quarter funds from operations, or FFO, of $0.50 per share, up from $0.48 per share in the same period last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report FFO of $0.49 per share for the quarter. Analysts' estimates typically exclude special items. Net income for the quarter increased to $0.44 per share from $0.03 per share last year.

Revenues improved 4.6 percent to $174.9 million from $167.2 million last year. Analysts expected revenues of $240.56 million.

Looking ahead to the second quarter, the company has forecast FFO in the range of $0.48 to $0.52 per share, with adjusted FFO ranging between $0.36 and $0.42 per share. Analysts currently expect second-quarter FFO of $0.51 per share.

For the fiscal 2014, the company has raised its FFO outlook to a range of $2.02 to $2.12 per share from its previous guidance range of $2.00 to $2.10 per share. Analysts currently expect full-year FFO of $2.07 per share.