Apartment Investment & Management Co., a U.S. real- estate investment trust with 1,425 properties, said the Securities and Exchange Commission’s Denver office has recommended ending an investigation into rental-income data.
The SEC’s Central Regional Office hasn’t recommended enforcement action in the matter, the Denver-based company said in a statement.
SEC spokesman John Heine declined to comment.
The regulator had been probing issues such as miscalculated rental income, forecasts and tax-credit transactions, Apartment Investment said in a November regulatory filing.
The company said in March 2004 that the SEC had issued a formal order of investigation.
The SEC was examining information on rental income disclosed in press releases in 2003. The figures included miscalculations that were found during a review and corrected before the company received a letter from the Central Regional Office.
The announcement was made after the close of regular U.S. trading. Shares of Apartment Investment fell $1.01 to $37.71 in New York Stock Exchange composite trading. They are down 2.2 percent this year.
