Apartment Investment and Management Co AIV:NYSE

Last Price$36.64Cboe Real-Time Last Sale as of 9:46AM ET 5/29/20
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Today's Change-0.54(1.45%)
Bid (Size)$36.57 (300)
Ask (Size)$36.76 (14)
Day Low / High$36.37 - 36.87
Volume10.7 K

Apartment Investment and Management Withdraws 2020 Outlook Amid COVID-19 Crisis

9:27AM ET 3/24/2020 MT Newswires
Apartment Investment and Management Co. (AIV) said Tuesday that it is withdrawing its full-year 2020 guidance due to market uncertainties brought about by the COVID-19 pandemic.

The company previously projected 2020 adjusted funds from operations of $2.34 to $2.44 per share. Chief Financial Officer Paul Beldin said the company expects its Q1 results to be in-line with previous guidance.

The company has also taken steps to improve its liquidity during the pandemic, including drawing down $300 million under its credit facility and deferring a capital spending of about $150 million.

Price: 25.29, Change: -3.02, Percent Change: -10.67