After my Initiating Coverage Report of Clipper Realty (CLPR) and the 2nd quarter earnings release, I thought it would be worthwhile to do a follow-on article to support the thesis of undervaluation. In this update, I will review the historical valuation and financial performance of Clipper, provide a detailed financial...
In the Ruff Research on Seeking Alpha | September 23, 2020
It's time for a quick check on the housing REITs. The sector has seen some pain over the last several weeks as investors are concerned about declining rent and occupancy. These are significant concerns, though long term they should pass. Young people can't live with their parents forever and the...
Colorado Wealth Management Fund on Seeking Alpha | September 22, 2020
DENVER--(BUSINESS WIRE)--On September 14, 2020, Apartment Investment and Management Company (NYSE:AIV) (“Aimco”) announced the closing of a California joint venture and its plan to separate its business through a spin-off, into two, separate and distinct, publicly traded companies, Apartment Income REIT (“AIR”) and Aimco. As described below, these transactions have material tax consequences to taxable shareholders. These transactions are also expected to have material benefits to AIR and to tax
DENVER--(BUSINESS WIRE)--APARTMENT INVESTMENT AND MANAGEMENT COMPANY (NYSE:AIV) (“Aimco”) announced today its plan to separate its business into two, separate and distinct, publicly traded companies, Apartment Income REIT (“AIR”) and Aimco. AIR, a newly formed, self-managed real estate investment trust will provide a simple and transparent way to invest in the multi-family sector: ownership with public market liquidity of a diversified portfolio of apartment communities, with low financial leve
DENVER--(BUSINESS WIRE)--Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) announced today second quarter results for 2020. Chairman and Chief Executive Officer Terry Considine comments: “The second quarter 2020 economic contraction was the most abrupt and most severe in US history. The resilient Aimco business absorbed the financial blow and is now recovering from the shock of the pandemic and the ‘lockdown’ of the economy. In mid-March, the pace of Aimco leasing was cut in hal