Mid-America Apartment Communities Inc. (MAA) reported that its third-quarter funds from operations or FFO was $48.2 million, or $1.11 per Share, compared to $39.2 million, or $1.00 per Share in the year ago quarter.
Net income available for common shareholders for the quarter was $30.9 million, or $0.74 per share, compared to $13.8 million, or $0.37 per share last year.
Property revenues for the quarter rose to $126.90 million from $110.06 million last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share on revenues of $126.32 million for the quarter. Analysts' estimates typically exclude special items.
FFO per Share is now expected to be in the $1.10 to $1.20 range for the fourth quarter. Analysts expect the company to report earnings of $1.15 per share for the fourth quarter.
The company now expects full-year 2012 FFO per Share to range from $4.46 to $4.56, which is a $0.04 per Share increase over the prior guidance mid-point.
Revenue growth for fiscal 2012 is projected to be in the range 4.5% to 5.5%, consistent with earlier guidance, with expense growth now expected to range 2.5% to 3.5% for the year.
Analysts expect the company to report earnings of $4.50 per share on revenues of $495.76 million for fiscal 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.