WASHINGTON (dpa-AFX) - Mid-America Apartment Communities, Inc. (MAA) on Wednesday reported an increase in profit for the second quarter, while funds from operations declined.
The apartment REIT updated its full-year 2026 guidance, lowering its earnings outlook while maintaining the midpoint of its Core FFO forecast.
Second-quarter net income available to common shareholders increased to $120.8 million or $1.04 per share from $107.2 million or $0.92 per share a year earlier.
Funds from operations (FFO) per share declined to $2.10 from $2.19, while Core FFO per share decreased to $2.08 from $2.15.
Rental and other property revenue increased to $555.1 million from $549.9 million.
For full-year 2026, MAA lowered its earnings per share guidance to a range of $3.96 to $4.20 from its prior forecast of $4.18 to $4.50. The company narrowed its Core FFO guidance to $8.41 to $8.65 per share from $8.37 to $8.69 previously, leaving the midpoint unchanged at $8.53.
MAA expects third-quarter Core FFO of $2.04 to $2.16 per share.
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