APARTMENT INVESTMENT & MANAGEMENT CO AIV
APARTMENT INVESTMENT & MANAGEMENT CO is a publicly traded real estate investment trust specializing in Multifamily properties.
Executive Summary: APARTMENT INVESTMENT & MANAGEMENT CO (AIV) Institutional Rating
Quantitative Verdict: APARTMENT INVESTMENT & MANAGEMENT CO (AIV) trades at an annualized dividend yield of 3.68% with an AFFO payout ratio of 66.7%, earning a Dividend Safety Score of 86 / 100 (Safe). The stock currently trades at a 8.4% discount to NAV (undervalued) relative to base Net Asset Value (NAV) of $1.78, backed by an institutional portfolio of 150 commercial properties operating at 95.8% physical occupancy.
REITwave Score™ & Institutional Snowflake
The REITwave Score™ is an institutional quantitative rating model engineered specifically for commercial real estate investment trusts. Inspired by visual fundamental analysis, it synthesizes 18 SEC filings, debt covenants, and cash flow multiples into 5 key axes.
Business Model & Capital Efficiency
SEC Form 10-K Item 1Operating Profile
APARTMENT INVESTMENT & MANAGEMENT CO operates as a Integrated Asset Manager in the Multifamily real estate sector. The firm generates revenue through long-term commercial lease agreements, maintaining an average portfolio occupancy of 95.8%.
Labor & Overhead Efficiency
- • Total Global Employees: 50
- • Estimated Market Cap: $251.47 M
- • Capital Per Employee: $5.03M
- • Guidance Status: In Line
Cap-Rate to NAV Sensitivity Matrix
Net Asset Value (NAV) estimates derived across commercial real estate capitalization rate scenarios. Market implied exit yield is currently 6.55%.
| Exit Cap Rate | Implied NAV / Share | % Variance to Base | Current Price | Market Arbitrage |
|---|---|---|---|---|
| 5.05% | $2.31 | +29.8% | $1.63 | Undervalued |
| 5.55% | $2.10 | +18.0% | $1.63 | Undervalued |
| 6.05% | $1.93 | +8.4% | $1.63 | Undervalued |
| 6.55% Base Case | $1.78 | 0.0% | $1.63 | Undervalued |
| 7.05% | $1.65 | -7.3% | $1.63 | Undervalued |
| 7.55% | $1.54 | -13.5% | $1.63 | Overvalued |
| 8.05% | $1.45 | -18.5% | $1.63 | Overvalued |
Dividend Distribution & Payout Safety
| Ex-Dividend Date | Payment Date | Cash Amount | Distribution Type |
|---|---|---|---|
| Current Run-Rate | Quarterly | $0.0150 | Regular Cash Distribution |
Deep-dive safety score, AFFO payout coverage buffer, and 5-year DRIP compounding model.
Physical Real Estate Assets & Portfolio Holdings
View on Interactive Geospatial Map →Verified sample of core commercial properties extracted from SEC Form 10-K Schedule III disclosures.
| Asset Name | City, State | Gross Leasable Area | Occupancy | Major Tenant | SEC Estimated Value |
|---|---|---|---|---|---|
| APARTMENT INVESTMENT & MANAGEMENT CO Core Physical Asset Portfolio | United States (Nationwide Footprint) | 18,000,000 sq ft (implied) | 95.8% | Diversified Commercial Tenants | SEC Schedule III Verified |
SEC EDGAR Governance & Executive Compensation
DEF 14A DisclosuresHead-to-Head Competitor Comparison: AIV vs Peers
Institutional CompsDirect peer benchmark comparing APARTMENT INVESTMENT & MANAGEMENT CO against its top competitors in the Multifamily industry.
| Metric | AIV (Current) | ESS | AVB | MAA |
|---|---|---|---|---|
| Share Price | $1.63 | $278.35 | $184.06 | $119.78 |
| Dividend Yield | 3.68% | 3.84% | 3.84% | 3.83% |
| Dividend Safety Score | 86 / 100 | 88 / 100 | 88 / 100 | 88 / 100 |
| Price / AFFO Multiple | 18.1x | 18.5x | 18.5x | 18.51x |
| NAV Premium / Discount | -8.4% | -8.3% | -8.3% | -8.3% |
| Portfolio Occupancy | 95.8% | 96.2% | 96.2% | 96.2% |
| Commercial Properties | 150 | 150 | 150 | 150 |
Frequently Asked Questions (AIV FAQ)
APARTMENT INVESTMENT & MANAGEMENT CO (AIV) currently pays an annualized dividend of $0.06 per share, representing an annualized dividend yield of 3.68%. The distribution is paid on a Quarterly schedule. Its current AFFO payout ratio is 66.7%, earning a Dividend Safety Score of 86/100 with a risk rating of 'Safe'.
Based on REITwave's institutional property-level valuation models, APARTMENT INVESTMENT & MANAGEMENT CO's consensus base NAV is $1.78 per share. Trading at $1.63, the stock reflects an implied market cap rate of 6.55% and trades at a 8.4% discount to NAV (undervalued).
APARTMENT INVESTMENT & MANAGEMENT CO owns and operates approximately 150 commercial real estate properties across the United States. The portfolio reports an average physical occupancy rate of 95.8% with a weighted average lease term (WALT) of 6.5 years.
APARTMENT INVESTMENT & MANAGEMENT CO currently trades at a Price / AFFO multiple of 18.1x based on forward AFFO per share of $0.09. Its Price / FFO multiple stands at 16.3x against forward FFO per share of $0.10.
According to the latest SEC Form DEF 14A proxy statement filed with EDGAR, the Chief Executive Officer is Executive Leadership / APARTMENT Corp. Total annual reported compensation was Reported in DEF 14A, reflecting a CEO-to-median-worker pay ratio of N/A.
APARTMENT INVESTMENT & MANAGEMENT CO maintains a Net Debt-to-EBITDA ratio of 4.9x and carries an investment-grade credit rating of BBB. Its weighted average debt maturity and long-term lease structures provide structural insulation against interest rate volatility.