Apartment Investment & Management Co (AIV) Q2 2019 10-Q Quarterly Earnings

Short answer

Apartment Investment & Management Co (AIV) filed its Q2 2019 10-Q quarterly report on Aug 9, 2019 for the quarter ended Jun 30, 2019.

AI summary of MD&A and risk factor updates

Revenue $215.1M, up 5.4% YoY, with Same Store revenue $176.4M, up 3.8%
Same Store NOI $129.2M, up 4.6%, with NOI margin 73.3% vs 72.7% YoY
Best segment Acquisition NOI $7.3M, up 62.0%; worst Other Real Estate NOI $5.4M, down 5.8%
Operating cash flow $170.0M for six months, down $15.6M; capital additions $179.1M
Near-term headwinds: wet spring delayed Parc Mosaic delivery to August; leverage 7.4x vs target below 7.0x, expected at or below target by year-end

No material changes to risk factors from the December 31, 2018 10-K
Environmental compliance: Lake Tahoe cleanup order names four potentially responsible parties
Operational risk: redevelopment and development commitments totaled approximately $235.9 million
Regulatory risk: EPA and IDEM groundwater remediation discussions continue at a former Indiana community
Financial risk: total indebtedness $4.0 billion, with estimated fair value of $4.1 billion

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

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