Mid-America Apartment Communities: Q4 Earnings Snapshot

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GERMANTOWN, Tenn. (AP) — GERMANTOWN, Tenn. (AP) — Mid-America Apartment Communities Inc. (MAA) on Wednesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.

The real estate investment trust, based in Germantown, Tennessee, said it had funds from operations of $244 million, or $2.23 per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $2.24 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $165.7 million, or $1.42 per share.

The real estate investment trust, based in Germantown, Tennessee, posted revenue of $549.8 million in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $552.5 million.

For the year, the company reported funds from operations of $952.8 million. Revenue was reported as $2.19 billion.

Mid-America Apartment Communities expects full-year funds from operations in the range of $8.61 to $8.93 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAA at https://www.zacks.com/ap/MAA