Like the name says, Apartment Investment and Management Company, also known as AIMCO, owns and operates apartment complexes throughout the United States. AIMCO has several initiatives underway to reduce its $4+ billion debt load including the issuance of preferred stock. Using two issues, about $123 million of debt was converted into equity during Q2. The 6.7 percent current yield being offered by AIV-A and AIV-Z is consistent with other B+ rated preferred stocks available in today's preferred stock marketplace.
For preferred stock investors, the cumulative dividends of AIV-A and AIV-Z, along with their competitive current yields, call protection and potential for a rating upgrade will have to be weighed against...
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For preferred stock investors, the cumulative dividends of AIV-A and AIV-Z, along with their competitive current yields, call protection and potential for a rating upgrade will have to be weighed against...
Note To Readers: This article was chosen to appear on the popular investing website 'Seeking Alpha'.
By clicking here a new window/tab will open on your screen to this article as it appears at SeekingAlpha.com.
Receive my Seeking Alpha articles by email: When viewing one of my articles at Seeking Alpha, click on the "Follow" button by my picture. You will be notified by email when I post a new article to Seeking Alpha.
Please enjoy reading this article at Seeking Alpha.
Many Happy Returns.
