WASHINGTON (dpa-AFX) - Mid-America Apartment Communities, Inc. (MAA), Wednesday announced an increase in its Funds from Operations or FFO for the fourth quarter.
FFO totaled $303.5 million or $2.53 per share compared to $251.8 million or $2.12 per share last year.
Core FFO rose to $277.7 million or $2.32 per share from $274.6 million or $2.32 per diluted share in the previous year.
Profit declined to $159.5 million or $1.37 per share from last year's $192.6 million or $1.67 per share.
On average, analysts surveyed by Thomson Reuters estimated a profit of $1.07 per share.
Revenue increased to $542.2 million from $527.9 million last year. Looking ahead, the real estate company expects earnings of $4.45 to $4.85 per share for fiscal year 2024.
The company anticipates a Core FFO of $8.68 to $9.08 per share for the same period.
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