Apartment Investment And Management Co. Preferred Stock, Opportunities And Risks
- Dwindling distressed home inventory has produced an increase in apartment rental income and occupancy for AIMCO.
- Focused on earning an investment grade debt rating from Fitch, Q2 preferred stock issuance has helped to reduce debt and increase unencumbered property portfolio.
- Pending expiration of the tax credit compliance period will allow the company to start selling its affordable housing portfolio next year.
- The 28 percent YTD increase in AIMCO’s common stock price has pushed its yield down to 3.2 percent, making the company’s 6.7 percent preferred stock offerings more attractive.