Mid-America Apartment Communities Q4 FFO Down - Quick Facts

(RTTNews) - Mid-America Apartment Communities Inc. (MAA) Wednesday said fourth-quarter funds from operations, or FFO, decreased to $74.9 million or $0.95 per share from $53.4 million or $1.21 per share in the same period last year.

Core FFO for the quarter was $95.0 million or $1.20 per share. On average, seven analysts polled by Thomson Reuters expected the company to report FFO of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

The company recorded a fourth-quarter loss of $9.3 million or $0.12 per share, compared to a profit of $22.3 million or $0.53 per share last year.

Revenues increased to $239.43 million from $125.81 million last year. Analysts expected revenues of $222.66 million.

Looking ahead, the company currently projects full-year core FFO in the range of $4.80 to $5.00 per share, or $4.90 at the mid-point. Analysts currently expect full-year FFO of $5.06 per share.