Apartment Investment and Management Company
AIVNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $1.57 Prior regular-session close from the quote source.
- $1.51–$1.56 Regular-session low and high so far today.
- 1.5M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $1.47–$6.04 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AIV if AIV is no longer a compounder story; it is a liquidation-value story whose return depends on how much cash the board can realize from selling multifamily real estate after satisfying liabilities.
AIV price history
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Investment thesis
What must happen next
The Plan of Sale and Liquidation can create value only if Aimco can sell its remaining real estate assets in an orderly process rather than becoming a forced seller.StrengtheningMateriality: High
GAAP total assets were $1.676 billion at December 31, 2025, giving the liquidation process a sizable asset base to monetize. If sales clear near carrying value or better, shareholders receive meaningful distributions; if the process becomes distressed, liquidation proceeds shrink before owners are paid.
Watch: A higher-rate or credit-constrained apartment transaction market prevents buyers from financing acquisitions at acceptable prices.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP total assets were $1.676 billion at December 31, 2025, giving the liquidation process a sizable asset base to monetize.
Open source ↗Shareholder recoveries depend on liabilities, claims, taxes, and wind-down obligations not absorbing too much of the gross asset-sale proceeds.HoldingMateriality: High
GAAP liabilities were $1.123 billion at December 31, 2025, versus GAAP assets of $1.676 billion, indicating a meaningful but not complete claim on the asset base. Liquidation value accrues to common holders only after creditors and other obligations are satisfied.
Watch: Mortgage lenders, bondholders, or other creditors require make-whole payments, defeasance costs, or reserves that are larger than expected.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP liabilities were $1.123 billion at December 31, 2025, versus GAAP assets of $1.676 billion, indicating a meaningful but not.
Open source ↗A large cash balance gives Aimco flexibility to conduct an orderly liquidation rather than sell assets immediately to meet near-term obligations.StrengtheningMateriality: Medium
GAAP cash and cash equivalents were $394.9 million at December 31, 2025. Liquidity can preserve bargaining power and reduce the risk that timing pressure destroys per-share liquidation value.
Watch: Wind-down costs, taxes, or debt-service requirements consume cash faster than planned before asset sales close.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP cash and cash equivalents were $394.9 million at December 31, 2025.
Open source ↗The remaining properties must remain cash-generative enough during the sale process that operating losses and carrying costs do not erode liquidation proceeds.HoldingMateriality: Medium
GAAP operating cash flow was positive at $8.1 million for FY2025. Even good real estate can produce a poor liquidation outcome if cash burn during the wind-down consumes the eventual sale proceeds.
Watch: Occupancy or rent collections weaken because residents, employees, or vendors respond adversely to the announced wind-down.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP operating cash flow was positive at $8.1 million for FY2025.
Open source ↗Investors should treat reported earnings as evidence of asset monetization, not as a durable REIT earnings stream.StrengtheningMateriality: Medium
GAAP net income swung to $547.2 million in FY2025 after GAAP net losses of $104.0 million in FY2024 and $166.2 million in FY2023. Valuation should be anchored to net liquidation proceeds rather than capitalizing a volatile GAAP earnings number.
Watch: Management abandons, modifies, or materially delays the Plan of Sale and Liquidation and attempts to reframe AIV as a going-concern REIT.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP net income swung to $547.2 million in FY2025 after GAAP net losses of $104.0 million in FY2024 and $166.2.
Open source ↗
Full investment case & evidence
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Original research
The Plan of Sale and Liquidation can create value only if Aimco can sell its remaining real estate assets in an orderly process rather than becoming a forced seller. If sales clear near carrying value or better, shareholders receive meaningful distributions; if the process becomes distressed, liquidation proceeds shrink before owners are paid.
Shareholder recoveries depend on liabilities, claims, taxes, and wind-down obligations not absorbing too much of the gross asset-sale proceeds. Liquidation value accrues to common holders only after creditors and other obligations are satisfied.
A large cash balance gives Aimco flexibility to conduct an orderly liquidation rather than sell assets immediately to meet near-term obligations. Liquidity can preserve bargaining power and reduce the risk that timing pressure destroys per-share liquidation value.
The remaining properties must remain cash-generative enough during the sale process that operating losses and carrying costs do not erode liquidation proceeds. Even good real estate can produce a poor liquidation outcome if cash burn during the wind-down consumes the eventual sale proceeds.
Investors should treat reported earnings as evidence of asset monetization, not as a durable REIT earnings stream. Valuation should be anchored to net liquidation proceeds rather than capitalizing a volatile GAAP earnings number.
All standing thesis claims
Original report summary
AIV is no longer a compounder story; it is a liquidation-value story whose return depends on how much cash the board can realize from selling multifamily real estate after satisfying liabilities.
Bull case and bear case
Bull case and bear case for Apartment Investment & Management Co
Where the evidence on Apartment Investment & Management Co stands: Holding on the latest evidence (Nov 12, 2026). Of its 5 thesis points, 3 strengthening and 2 holding.
Bull case: what the evidence supports
The Plan of Sale and Liquidation can create value only if Aimco can sell its remaining real estate assets in an orderly process rather than becoming a forced seller.
Shareholder recoveries depend on liabilities, claims, taxes, and wind-down obligations not absorbing too much of the gross asset-sale proceeds.
A large cash balance gives Aimco flexibility to conduct an orderly liquidation rather than sell assets immediately to meet near-term obligations.
The remaining properties must remain cash-generative enough during the sale process that operating losses and carrying costs do not erode liquidation proceeds.
Investors should treat reported earnings as evidence of asset monetization, not as a durable REIT earnings stream.
Bear case: what would count against it
A higher-rate or credit-constrained apartment transaction market prevents buyers from financing acquisitions at acceptable prices.
Mortgage lenders, bondholders, or other creditors require make-whole payments, defeasance costs, or reserves that are larger than expected.
Wind-down costs, taxes, or debt-service requirements consume cash faster than planned before asset sales close.
Thesis-Break Engine
What has broken in Apartment Investment & Management Co’s thesis
Each break OptimistFi flagged on Apartment Investment & Management Co, dated — with what has historically followed the same kind of break across the market, not a forecast for Apartment Investment & Management Co.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
Apartment Investment & Management Co filed an SEC 8-K on 2026-10-02: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A higher-rate or credit-constrained apartment transaction market prevents buyers from financing acquisitions at acceptable prices.
- Mortgage lenders, bondholders, or other creditors require make-whole payments, defeasance costs, or reserves that are larger than expected.
- Wind-down costs, taxes, or debt-service requirements consume cash faster than planned before asset sales close.
- Occupancy or rent collections weaken because residents, employees, or vendors respond adversely to the announced wind-down.
- Management abandons, modifies, or materially delays the Plan of Sale and Liquidation and attempts to reframe AIV as a going-concern REIT.
AIV news
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Financial statements
AIV income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
AIV: quick answers
- What is AIV's short interest?
- As of October 30, 2026, 2.1M AIV shares were sold short, up 10.7% from the count before. At the stock's average daily volume that is 1.0 day to cover. FINRA publishes the count twice a month. AIV short interest history