Reports Q4 revenue $549.8M, consensus $552.05M. CEO Eric Bolton said, “We are encouraged by the performance trends captured in Q4 and the early signs of improvement in pricing trends as the record level of new supply deliveries has now peaked. Calendar year 2025 will be a transition year for revenue performance as the decline in new supply deliveries will provide for increasingly tighter market conditions and resulting rent growth. As we reprice leases over the busy spring and summer leasing season, the compounding impact in overall revenue performance will become increasingly evident late this year and into 2026. Same Store Portfolio blended lease pricing, on a sequential basis from the seasonally strong Q3 to the typically slower Q4, improved 140 basis points as compared to the same sequential trend of the prior year. Capturing this improvement in year-over-year pricing trends, despite the record level of new supply deliveries over the past year, we believe speaks to the continued strong demand for apartment housing across our portfolio. Further, it puts MAA (MAA) in a solid position to capture recovery in rental pricing as we head into 2025 with the delivery of new supply poised to meaningfully decline.”
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