Mid-America Apartment (MAA) Tops Q4 EPS by 4c; Offers FY19 EPS Guidance Above Consensus

Mid-America Apartment (NYSE: MAA) reported Q4 EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $398.15 million versus the consensus estimate of $399.68 million.

Eric Bolton, Chairman and Chief Executive Officer, said, "We continue to capture solid demand for apartment housing across our portfolio. Despite elevated levels of new supply in a number of markets, rent growth trends continue to improve reflecting the superior job growth and household formation trends associated with our Sunbelt-focused strategy. Integration efforts associated with our merger with Post Properties are now complete, and we look forward to fully capturing the opportunities associated with redevelopment of this portfolio. Our balance sheet is strong with solid coverage ratios and significant capacity for executing on new opportunities that will emerge as we work through the current supply cycle."

GUIDANCE:

Mid-America Apartment sees FY2019 EPS of $2.11-$2.35, versus the consensus of $2.02.

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

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