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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 9:13 AM

Slide #244. Apartment Investment and Management Company Preferred Stock Offering

Company: Apartment Investment and Management Company (NYSE:AIV)
Date announced: 5/12/2014
Security type: 6.875% Class A Cumulative Preferred Stock (NYSE:AIV.PRA)
Shares Offered: 5,000,000
Date of Pricing: 5/12/2014
Price Per Share: $25.00
Preferred Stock Offering Details: Apartment Investment and Management Company announced that it has priced an underwritten public offering of five million shares of its 6.875% Class A Cumulative Preferred Stock. The shares were priced at $25 per share for gross proceeds to Aimco of $125 million. The net proceeds of the offering are expected to be approximately $121.1 million and will be used by Aimco for general corporate purposes, which may include repayment of indebtedness under its revolving credit facility and repayment of non-recourse property debt.

Apartment Investment and Management is a self-administered and self-managed real estate investment trust. Co. is focused on the ownership, management, redevelopment and limited development of apartment communities. Co., through its wholly-owned subsidiaries, AIMCO-GP, Inc. and AIMCO-LP Trust, owns a majority of the ownership interests in AIMCO Properties, L.P. (the Aimco Operating Partnership). Co. conducts all of its business through the Aimco Operating Partnership. As of Dec 31 2016, Co.'s real estate portfolio consisted of 189 apartment communities with 46,311 apartment homes. Co.'s reportable segments are conventional and affordable real estate operations.

Preferreds: AIV.PRZ, AIV.PRA

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Name: Apartment Investment & Management Co
Sector: REITs
Number of ETFs Holding AIV: 69 (see which ones)
Total Market Value Held by ETFs: $1,397,918,069
Total Market Capitalization: $6,609,000,000
% of Market Cap. Held by ETFs: 21.15%

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