The company said full-year 2023 Earnings per common share - diluted was $4.71 (2022 $5.48), and Core FFO per Share - diluted was $9.17 (2022 $8.50). Core FFO per Share - diluted for Q4 was $2.32, the same as a year earlier.

1. 01

   The company said full-year 2023 Earnings per common share - diluted was $4.71 (2022 $5.48), and Core FFO per Share - diluted was $9.17 (2022 $8.50). Core FFO per Share - diluted for Q4 was $2.32, the same as a year earlier.

2. 02

   MAA said Same Store Portfolio revenues for Q4 2023 rose 2.1% from a year earlier, property operating expense rose 5.9%, and NOI rose 0.1%. Average Physical Occupancy was 95.5%.

3. 03

   MAA set full-year 2024 Core FFO per Share - diluted guidance at $8.68 to $9.08 (midpoint $8.88) and Earnings per common share - diluted guidance at $4.45 to $4.85. The company cited higher interest expense from incremental borrowings tied to acquisition, development and refinancing activity in 2023 as the factor behind the year-over-year change in Core FFO.

4. 04

   Subsequent to the end of Q4 2023, Mid-America Apartments, L.P. issued $350 million of unsecured senior notes due March 2034 with a coupon of 5.000% and an issue price of 99.019%, the company said in January 2024. It said the proceeds were used to repay borrowings under its commercial paper program.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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