Mid-America Apartment (MAA) Tops Q1 AFFO by 82c

Mid-America Apartment (NYSE: MAA) reported Q1 AFFO of $1.36, $0.82 better than the analyst estimate of $0.54 (may not ocmpare).

Guidance:

Sees Q2 FFO of $1.36-1.46 compared with consensus of $1.45.

Sees FY FFO of $5.74-5.94 compared with consensus of $5.88.

Eric Bolton, Chairman and Chief Executive Officer, said, "Our portfolio of quality apartment homes diversified across the high-growth Sunbelt markets captured solid results in the first quarter. Integration activities surrounding the merger of MAA and Post Properties platforms are going smoothly and the value proposition that we have previously outlined is very much intact. As the current apartment real estate cycle continues to play out, we believe MAA is well positioned to capture steady results as well as take advantage of attractive new opportunities that are presented."

For earnings history and earnings-related data on Mid-America Apartment (MAA) click here.

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