Apartment Investment and Management Company (AIV) Q1 2026 earnings summary

Executive summary

• Adopted a Plan of Sale and Liquidation in February 2026, aiming for full asset liquidation and dissolution within 24 months, with all assets considered held for sale and operations winding down.

• Paid a special liquidating distribution of $1.45 per share in March 2026 and declared a second distribution of $1.30 per share to be paid in June 2026.

• Sold multiple properties in Q1 2026, including three properties for $177.5 million and a Chicago portfolio for $455 million.

Financial highlights

• Net assets in liquidation as of March 31, 2026, were $705.9 million, down from $921.2 million on February 1, 2026, primarily due to liquidating distributions.

• Cash and cash equivalents totaled $216.0 million, with $8.3 million in restricted cash at quarter end.

• Net loss attributable to common stockholders was $7.7 million for January 2026, compared to a $13.9 million loss for Q1 2025.

Outlook and guidance

• The company expects to complete asset sales and liquidation within 24 months of shareholder approval, but timing and proceeds are subject to market conditions and execution risks.

• No further segment reporting or non-GAAP measures like EBITDAre due to the liquidation basis of accounting.