MAA reports Q2 core FFO $2.22, consensus $2.20

Reports Q2 revenue $546.44M, consensus $545.41M. CEO Eric Bolton said, “Results for Q2 were ahead of expectations. New supply delivering into several of our markets continues to be absorbed in a steady manner as the demand for apartment housing remains strong. We continue to believe that we will begin to see a decline in new apartment deliveries over the back half of this year and into 2025. MAA‘s uniquely diversified portfolio, supported by a strong operating and resident service platform, offering an appealing apartment product at an affordable price point, continues to provide higher performance and lower volatility through the full apartment cycle.”