MAA reports Q3 core FFO $2.21, consensus $2.08

Reports Q3 revenue $, consensus $548.86M. CEO Eric Bolton said, “We continue to see strong demand for apartment housing, which is contributing to the steady absorption of the high volume of new supply delivered in the third quarter, which we believe has now peaked. Resident turnover is at record low levels, lease renewal pricing is strong, occupancy is steady, and collections also remain strong. We are confident that in calendar year 2025 we will see a meaningful decline in the amount of new supply impacting our portfolio, and we will enter a new multi-year cycle with demand outpacing supply. The upside opportunity within our current portfolio from these changing market conditions, coupled with the growing contribution from our new development and acquisitions pipeline, has MAA (MAA) very well positioned.”