UPDATE 1- Aimco fourth-quarter FFO falls

* FFO, ex items, 36 cents/shr

* Shares unchanged in pre-market activity

NEW YORK, Feb 5 (BestGrowthStock) – Apartment Investment and
Management Co (AIV.N: ) (Aimco), one of the largest U.S.
apartment landlords, said fourth-quarter funds from operations
fell but beat analyst’s forecast by a penny a share.

FFO, a performance measurement for real estate investment
trusts, rose to $30.2 million, or 26 cents per share, from
$28.9 million, or 32 cents per share, a year earlier, the
Denver-based company said on Friday.

FFO excludes the profit-reducing effect of depreciation.

Excluding mostly non-cash impairment charges, FFO was 36
cents per share. Analysts on average had expected 35 cents,
according Thomson Reuters I/B/E/S.

The company had projected FFO in the range of 32 cents to
40 cents per share.

Aimco expects first-quarter FFO of 26 cents to 30 cents per
share. It expects 2010 FFO in range of $1.25 to $1.35 per
share. Analysts expected first-quarter FFO of 32 cents per
share and full-year FFO of $1.26 per share.

Stock Market Report

(Reporting by Ilaina Jonas; Editing by Derek Caney)

UPDATE 1- Aimco fourth-quarter FFO falls