Mid-America Apartment Communities: Q1 Earnings Snapshot
By AP News
Published - Apr 26, 2023, 05:12 PM ET
Last Updated - Jun 22, 2023, 03:20 AM EDT
GERMANTOWN, Tenn. (AP) — GERMANTOWN, Tenn. (AP) — Mid-America Apartment Communities Inc. (MAA) on Wednesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.
The Germantown, Tennessee-based real estate investment trust said it had funds from operations of $272.2 million, or $2.28 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $2.25 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
