trending Market Intelligence /marketintelligence/en/news-insights/trending/nCBB5j5kkw7yp8F_MJTwew2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Mid-America Apartment outlines Q3 expectations with latest results

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview

Mid-America Apartment outlines Q3 expectations with latest results

Mid-America Apartment Communities Inc. disclosed second-quarter funds from operations attributable to the company of $185.7 million, or $1.57 per share, a rise on a per-share basis from $182.9 million, or $1.55 per share, in the 2018 second quarter.

The multifamily real estate investment trust said the latest results included $4.6 million, or 4 cents per share, of noncash income related to the embedded derivative in the preferred shares.

For the quarter, adjusted FFO grew year over year on a per-share basis to $161.4 million, or $1.37 per share, from $158.0 million, or $1.34 per share.

The S&P Global Market Intelligence consensus FFO estimate for the quarter was $1.53 per share.

For the second quarter, rental and other property revenues came to $407.4 million, a 4.4% rise from $390.1 million in the 2018 second quarter.

Mid-America Apartment said it expects FFO per share in the range of $1.51 to $1.59 for the third quarter. The company also expects FFO for the full year at between $6.20 and $6.36 per share. The company previously offered guidance in the range of $6.11 to $6.35 per share for the metric. For the full year, AFFO is expected at a range of $5.56 to $5.72 per share.

For the third quarter, the S&P Global Market Intelligence consensus FFO-per-share estimate is $1.54, while analysts expect 2019 FFO per share at $6.24.

In April, the company completed the sale of a 4-acre land parcel in the Huntsville, Ala., market.

As of the end of the second quarter, the REIT had five development communities under construction, with total development costs estimated at $230.5 million.