Mid-america Apartment Communities ( (MAA) ) has released its Q4 earnings. Here is a breakdown of the information Mid-america Apartment Communities presented to its investors.
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Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust (REIT) that focuses on owning, managing, acquiring, developing, and redeveloping quality apartment communities primarily in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
For the fourth quarter of 2024, Mid-America Apartment Communities reported slightly decreased earnings per common share, diluted at $1.42 compared to $1.37 in the previous year. The company’s funds from operations (FFO) per share also saw a decline, reflecting the pressures from increased property operating expenses and the impact of new supply deliveries in the market.
Notable highlights from the report include a strong average physical occupancy of 95.6% in the Same Store Portfolio, despite a minor decrease in revenue and net operating income (NOI). The company continues to maintain a robust balance sheet with a net debt to adjusted EBITDAre ratio of 4.0x and significant liquidity. Additionally, MAA completed significant acquisitions and dispositions, including the purchase of a 386-unit multifamily community in Dallas and the disposition of properties in Charlotte and Richmond.
Looking ahead, MAA anticipates a transition year in 2025, with expectations of tighter market conditions due to a decrease in new supply deliveries, leading to potential rent growth. The management remains focused on optimizing its portfolio performance while enhancing efficiencies and investing in initiatives for future earnings growth.
