Mid-America Apartment Communities: Q3 Earnings Snapshot
By AP News
Published - Oct 30, 2024, 04:25 PM ET
Last Updated - Dec 16, 2024, 05:49 PM EST
GERMANTOWN, Tenn. (AP) — GERMANTOWN, Tenn. (AP) — Mid-America Apartment Communities Inc. (MAA) on Wednesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Germantown, Tennessee-based real estate investment trust said it had funds from operations of $264.8 million, or $2.21 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $2.18 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.
