Mid-America's quarterly core AFFO falls on weak rental demand

Mid-America Apartment Communities, Inc.

Mid-America Apartment Communities, Inc.

MAA

0.00

April 29 (Reuters) - Real estate investment trust Mid-America Apartment Communities MAA.N posted a fall in its first-quarter core adjusted funds from operations (AFFO) on Wednesday, hurt by weak rental demand in its key markets due to increased supply.

  • The Memphis, Tennessee-based REIT manages more than 250 apartment buildings in the Southeast, Southwest and Mid-Atlantic regions, with cities such as Austin, Memphis and Phoenix as its key markets.

  • The company posted core adjusted FFO of $1.98 per share for the quarter ended March 31, compared with $2.04 per share a year earlier.

  • The REIT expects 2026 core adjusted FFO, a key measure of performance for a REIT, in the range of $7.34 to $7.66 per share, compared with its prior forecast of $7.32 to $7.68 per share.




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