Aimco Q3 FFO Rises - Quick Facts

(RTTNews) - Apartment Investment and Management Co. or Aimco (AIV) reported third-quarter funds from operations, or FFO, of $0.51 per share, up from $0.50 per share in the prior-year quarter.

Adjusted FFO for the quarter was $0.39 per share, compared to $0.35 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report FFO of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter increased to $0.85 per share from $0.46 per share last year, and income from continuing operations soared to $0.85 per share from $0.04 per share a year ago.

Total revenues for the quarter improved to $246.84 million from $243.94 million last year. Analysts expected revenues of $238.19 million.

Looking ahead to the fourth quarter, the company expects FFO in a range of $0.53 to $0.57 per share, with adjusted FFO ranging between $0.41 and $0.45 per share. Analysts currently expect FFO of $0.55 per share for the quarter.

For fiscal 2014, the company has raised FFO outlook to a range of $2.06 to $2.10 per share from its previous guidance range of $2.04 to $2.12 per share. Analysts currently expect full-year 2014 FFO of $2.09 per share.