Shares of Apartment Investment and Management Company AIV, commonly known as Aimco, declined 87.5% in yesterday’s trading session after the company announced the completion of the spin-off of part of its business.With this, the company created two separate publicly traded companies — Apartment Income REIT Corp. (“AIR”) and Aimco. Notably, Aimco retained its budding business of developing and redeveloping apartment communities. The company will continue to pursue other value-creating multifamily investments across the United States.In fact, on Dec 15, the company completed a 1:1 pro rata distribution of share of Class A common stock of AIR for every share of Class A common stock of Aimco held by shareholders of record as of Dec 5, 2020.Additionally, common stock of AIR — a pure-play apartment investment vehicle — started trading on the NYSE under the symbol “AIRC”. On Dec 21, Aimco will be removed from the S&P 500 Index.AIR now owns around 90% of a portfolio of 98 stabilized properties that have 26,599 apartment homes, with an estimated fair market value (or GAV) of $10.4 billion and net asset value (NAV) of $7.8 billion. These communities are primarily A/B in quality, and provide diversification across geography and price points.The strategic location of the properties across submarkets with above-average growth projections likely enabled the assets to enjoy above-average market rents as well as decent net interest income (NOI) margins and occupancy rates.AIR will operate at low leverage and a conservative capital structure. It will have debt, net of cash and receivables of $2.7 billion, indicating net debt to annualized EBITDA of 5.9X for the March-end quarter.Meanwhile, Aimco retains the ownership of 11 stabilized multi-family properties, the loan made to the partnership owning Parkmerced Apartments and the related option to extend the same, the land assembly of Yacht Club, and an office building in Miami, 1001 Brickell Bay Tower.The company carries a Zacks Rank #3 (Hold), at present.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Stocks to ConsiderCubeSmart’s CUBE Zacks Consensus Estimate for 2020 funds from operations (FFO) per share has moved up 1.2% to $1.65 over the past month. The company currently carries a Zacks Rank of 2 (Buy).Rexford Industrial Realty, Inc. REXR FFO per share estimates for the current year have been revised upward by 1.6% to $1.30 over the past two months. The company carries a Zacks Rank of 2, currently.City Office REIT, Inc.’s CIO Zacks Consensus Estimate for ongoing-year FFO per share has moved 5.3% north to $1.20 in two months’ time. The company has a Zacks Rank of 2 at present.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.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 CubeSmart (CUBE): Free Stock Analysis Report Rexford Industrial Realty, Inc. (REXR): Free Stock Analysis Report City Office REIT, Inc. (CIO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research