Wolfe Research analyst Andrew Rosivach initiated coverage of Aimco with a Peer Perform rating and no price target. The analyst estimates the company is producing modest current funds from operations levels, primarily due to a high level of non-income producing assets. Full resolution of the company’s Park Merced mezzanine loan would reduce this large percentage on non-operating income, says the firm, who awaits more monetization versus the recent partial sale.
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