04:51 PM EDT, 05/01/2024 (MT Newswires) -- Mid-America Apartment Communities ( MAA ) reported Q1 core adjusted funds from operations Wednesday of $2.06 per diluted share, down from $2.14 a year earlier.

Analysts polled by Capital IQ expected adjusted FFO of $2.05 per share.

Rental and other property revenue in the quarter ended March 31 rose to $543.6 million from $529 million a year earlier. Analysts surveyed by Capital IQ expected $540.5 million.

In 2024, the company expects core adjusted FFO of $7.74 to $8.10 a share, compared with $7.72 to $8.12 previously. Analysts are looking for adjusted FFO of $7.90.

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