Mid-America Apartment Communities Q3 Profit Down

(RTTNews) - Mid-America Apartment Communities, Inc. (MAA) Wednesday reported third-quarter net income of $109.8 million or $0.94 per share, compared with $121.4 million or $1.05 per share last year.

Funds from operations for the quarter were $2.16 per share, compared to $2.19 per share last year. Core funds from operations for the quarter were $2.29 per share, compared to $2.19 per share last year. Core AFFO per share for the quarter was $1.99 per share, compared to $1.86 per share last year.

Rental and other property revenues for the quarter were $542.0 million compared to $520.8 million last year.

Analysts polled by Thomson Reuters expected earnings of $1.12 per share and revenues of $540.42 million for the quarter.