Apartment Investment And Management Company Q3 Profit Rises - Quick Facts

(RTTNews) - Apartment Investment and Management Company (AIV) reported its third-quarter income from continuing operations increased to $8.19 million, from $5.92 million, last year. Income per share from continuing operations was $0.05, compared to a loss of $0.06 per share, prior year. Net income attributable to stockholders increased to $66.27 million or $0.46 per share, from $24.16 million or $0.17 per share, prior year.

Funds from operations per share was $0.50, compared to $0.38, last year. AFFO per share was $0.35 for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.51 for the quarter. Analysts' estimates typically exclude special items.

Total revenues rose to $254.51 million, from $252.84 million, a year ago. Analysts expected revenue of $256.13 million for the quarter.

The company expects its fourth-quarter net income per share in the range of $0.10 to $0.16; pro forma FFO per share in the range of $0.53 to $0.59; and AFFO per share in the range of $0.38 to $0.44. Analysts expect the company to report fourth-quarter profit per share of $0.57.

The company expects its full year profit per share in the range of $0.66 to $0.72; pro forma FFO per share in the range of $2.00 to $2.06; and AFFO per share in the range of $1.48 to $1.54. Analysts expect the company to report full year profit per share of $2.04.