FX.co ★ MAA Q2 Profit Down

Mid-America Apartment Communities, Inc. (MAA) announced its second-quarter financial results on Wednesday. The company reported a net income of $101.03 million, translating to $0.86 per share, which is a decrease from the $144.77 million or $1.24 per share recorded in the same period last year.

Funds from operations (FFO) for the quarter amounted to $2.06 per share, down from $2.39 per share the previous year. The Core FFO per share also saw a slight decline, coming in at $2.22 compared to $2.28 last year.

Net revenues for the second quarter reached $546.44 million, up from $535.15 million in the corresponding quarter of the previous year.