April 30 (Reuters) - Mid-America Apartment Communities ( MAA )

missed first-quarter adjusted funds from operations

(FFO) estimates on Wednesday, hurt by weak rental demand in its

key markets due to increased supply.

The company, which counts cities such as Austin, Memphis and

Phoenix as its key markets, has had ownership interest in

104,469 apartment units across 16 states and the District of

Columbia, according to its website.

The Memphis, Tennessee-based REIT manages more than 250

apartment buildings in the Southeast, Southwest and Mid-Atlantic

regions.

The company posted adjusted FFO, a key measure of

performance for a REIT, at $2.04 per share for the quarter ended

March 31, compared with analysts' average estimate of $2.17 per

share, according to data compiled by LSEG.

The REIT's rental and other property revenue was at $549.3

million for the first quarter, just missing the analyst average

estimates of $550.8 million.