Shares of Apartment Investment and Management Company AIV, commonly known as Aimco, rallied 4.1% during Mar 12 regular trading session after the company reported revenue growth for fourth-quarter 2020.Specifically, fourth-quarter revenues of $38.6 million were 1.2% higher than the prior-year quarter’s $38.2 million. However, the company reported a fourth-quarter 2020 loss per share of 10 cents compared with a loss per share of 1 cent from the year-ago quarter.Notably, on Dec 15, 2020, Aimco completed the spin-off of part of its business, creating two companies, Apartment Income REIT Corp. and Aimco.Also, property net operating income (NOI) for the company’s operating properties slid 1.8% year over year in 2020, as operations at its properties were affected by the pandemic and related restrictions. Average daily occupancy at the company’s operating multifamily communities was 96.3% for the year ended Dec 31, 2020. In 2020, Aimco collected 98.3% of residential rents due.Behind the HeadlinesFor fourth-quarter, 2020,revenues (before utility reimbursements) from the company’s portfolio of 24 operating residential properties (consisting of 6,067 total apartment units) slid 2.1% year over year to $32.5 million, while expenses (net of utility reimbursements) flared up 6.4% to $10.7 million. Consequently, NOI declined 5.7% year over year to $21.8 million.Average daily occupancy at the company’s operating multifamily communities improved 190 basis points sequentially to 96.9% for the fourth quarter.As for office operations at 1001 Brickell Bay Drive, occupancy as of Dec 31, 2020, was 77% and the company collected 96% of rents due since April, on an average.Portfolio ActivityIn 2020, it acquired a 271-apartment home community in Miami and an adjacent 0.6-acre development site for $89.6 million.LiquidityAs of Dec 31, 2020, Aimco’s total liquidity of around $449 million consisted of cash and restricted cash of approximately $299 million as well as a borrowing capacity of $150 million under its revolving credit facility.The company currently carries a Zacks Rank #3 (Hold).Apartment Investment and Management Company Price, Consensus and EPS Surprise Apartment Investment and Management Company price-consensus-eps-surprise-chart | Apartment Investment and Management Company QuoteYou can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other Residential REITsAvalonBay Communities, Inc.’s AVB core funds from operations (FFO) per share of $2.02 missed the Zacks Consensus Estimate of $2.09 for the October-December quarter. The reported figure also declined 16.9% year over year from the prior-year quarter’s $2.43. Results underlined a decline in residential rental revenues on lease rates and concessions as well as uncollectible lease revenues.Mid-America Apartment Communities, Inc. MAA, commonly referred to as MAA, reported fourth-quarter 2020 core FFO per share of $1.65, surpassing the Zacks Consensus Estimate of $1.64. Nonetheless, the reported figure marginally declined from the year-ago figure of $1.66. The residential REIT’s quarterly results were driven by an increase in average effective rent per unit for the same-store portfolio. Positive rent growth also aided same-store portfolio revenue growth during the period.Essex Property Trust Inc. ESS reported fourth-quarter 2020 core FFO per share of $3.02, missing the Zacks Consensus Estimate of $3.12. The figure also fell 12.5% from the year-ago quarter’s $3.45. Results reflected the adverse impact of the pandemic on the company’s business. Concessions and delinquencies affected same-property revenues in the quarter.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apartment Investment and Management Company (AIV): Free Stock Analysis Report MidAmerica Apartment Communities, Inc. (MAA): Free Stock Analysis Report AvalonBay Communities, Inc. (AVB): Get Free Report Essex Property Trust, Inc. (ESS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research