Earnings Preview: Apartment Investment and Management Company

| About: Apartment Investment (AIV)

Apartment Investment and Management Company (NYSE:AIV), or Aimco, is expected to report Q4 earnings before market open Friday, February 6 with a conference call scheduled for 1:00 pm ET.


The consensus estimate for EPS is 59c and the consensus estimate for revenue is $373.76M, according to First Call. The consensus range for EPS is 35c-87c, while the consensus range for revenue is $361.09M-$402.40M.

Analyst Views

JPMorgan last month downgraded Aimco (AIV) to Underweight from Neutral. The firm is cautious about REITs, as they predict that the REIT sector will produce negative returns for investors this year. However, the firm forecasts that the sector's performance in 2009 will be better than in 2008, since it believes that investors' concerns about REITs' liquidity and balance sheet will ease in 2009. Meanwhile, Fox-Pitt has a negative outlook on Aimco, as the firm recently initiated the REIT with an Underperform rating. At the end of last month, Aimco announced that it would take non-cash charges for Q4 related to two of its California properties and its investment in Casden Properties, LLC, Earlier in January, Aimco had said that it would lay off 7% of its work force and take a related Q4 charge of $21M-$28M.