Mid-America Apartment (MAA) Tops Q2 EPS by 6c

Mid-America Apartment (NYSE: MAA) reported Q2 EPS of $0.52, $0.06 better than the analyst estimate of $0.46.

Eric Bolton, Chairman and Chief Executive Officer, said, "Demand for apartment housing remains strong across our high-growth Sunbelt region driving strong occupancy and record low resident turnover. Despite elevated levels of new development in several markets, we are encouraged with the improving trend in rent growth reflecting both the solid demand dynamics and the improvements in revenue management practices within the legacy Post Properties portfolio. Our redevelopment, lease-up and new development pipelines are expanding and performing in line with our expectations. Performance momentum from our merger with Post Properties continues to build and is in line with our operating performance expectations for the year."

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

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