The company said it reported earnings per common share on a diluted basis of $1.22 and Core FFO per Share - diluted of $2.22 for Q1 2024 (3 months). The prior-year figures were $1.16 and $2.28, respectively.

1. 01

   The company said it reported earnings per common share on a diluted basis of $1.22 and Core FFO per Share - diluted of $2.22 for Q1 2024 (3 months). The prior-year figures were $1.16 and $2.28, respectively.

2. 02

   Mid-America Apartment Communities said Same Store Portfolio revenue rose 1.4% year over year in Q1 2024, while property operating expenses increased 5.4%, and NOI fell 0.7%. Average Effective Rent per Unit was $1,690, and Average Physical Occupancy was 95.3%.

3. 03

   As of March 31, 2024, the company said it had 5 development projects under construction, with 1,970 units, a total projected cost of $647.3 million and $201.7 million remaining to be funded. In April 2024, it started construction on a 302-unit community in Charlotte with a total cost of approximately $102 million.

4. 04

   The company said it updated its 2024 full-year Core FFO per diluted Share outlook to a range of $8.70 to $9.06, with the midpoint of $8.88 unchanged from the prior outlook. In January 2024, MAALP issued $350 million of 5.000% coupon senior unsecured notes.

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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