Apartment Investment and Management Co.'s (AIV) fourth-quarter net loss narrowed to $6.73 million or $0.06 per share from $9.90 million or $0.11 per share a year ago.
Funds from operations or FFO stood at $16.1 million or $0.14 per share as against a loss of $43.9 million or $0.48 per share in fourth quarter 2008.
Adjusted funds from operations was $15.3 million or $0.13 per share versus a loss of $56.0 million or $0.61 per share last year.
On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.36 for the quarter. Analysts' estimate typically excludes one-time items.
Total revenues for the fourth quarter of 2009 declined to $302.81 million from $304.26 million in the comparable period. Five analysts estimated revenues of $295.70 million for the quarter.
Looking ahead to the first quarter of 2010, FFO per share is expected to range from $0.26 to $0.30. Eleven analysts anticipate earnings per share of $0.32 for the first quarter.
Full year 2010 FFO is expected to range between $1.25 and $1.35 per share. Seventeen analysts estimate earnings per share of $1.26 for 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.