Apartment Investment & Management Co (AIV) Q1 2017 10-Q Quarterly Earnings

Short answer

Apartment Investment & Management Co (AIV) filed its Q1 2017 10-Q quarterly report on May 5, 2017 for the quarter ended Mar 31, 2017.

AI summary of MD&A and risk factor updates

Real Estate revenue $217.0M, up 7.4% YoY from $202.1M
Same Store NOI $112.9M, up 3.7% YoY, with revenue growth 3.4% and expense growth 2.7%
Non-Same Store NOI strongest performer, $34.7M, up 23.7% YoY
Operating cash flow $68.5M, down $5.4M YoY, with capital expenditures of $82.2M
2017 development and redevelopment spending guidance $100M to $200M, competitive supply slowing rent growth in some locations

Environmental liability: EPA listed former Indiana community as a Superfund site in September 2016
Tax-credit compliance: Noncompliance could require refunds or reductions of investor capital contributions
Operating risk: $86.2 million committed to redevelopment and capital improvements, mostly within 12 months
Financial risk: Revolving credit borrowings increased to $69.7 million from $17.93 million
Legal risk: Proposed Lake Tahoe cleanup order could require additional groundwater investigation and corrective actions

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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