Aimco full-year guidance edges higher

• Adjusted FFO of $0.48 up from $0.39 one year ago.
• Average same-store revenue per apartment of $1,750 up 4.4% Y/Y. Average daily occupancy of 95.6% down 10 basis points. Expenses up 1.9%. NOI up 5.4%.
• Renewal rent increase of 6%; new lease rent increases of 6.6%; weighted average rent increases of 6.3%.
• Full-year AFFO outlook is boosted by a penny at the midpoint to $1.87-$1.91 per share.
• Earnings call tomorrow at 1 ET
• Previously: Apartment Investment FFO in-line, beats on revenue (Nov. 3)
• AIV flat after hours