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Mar 31, 2020
MAA Q1 2020 Earnings Report
Reported operating results for the quarter ended March 31, 2020.
Key Takeaways
MAA reported first quarter results with net income available for common shareholders at $35.7 million, or $0.31 per diluted common share. Core FFO was $191.2 million, or $1.62 per diluted common share and unit.
Property revenues from the Same Store Portfolio increased 4.2% during the first quarter of 2020.
Property operating expenses for the Same Store Portfolio increased 3.2% during the first quarter of 2020.
Net Operating Income, or NOI, from the Same Store Portfolio increased 4.8% during the first quarter of 2020.
During the first quarter of 2020, MAA completed renovation of 1,440 units under its redevelopment program, achieving average rental rate increases of 9.4% above non-renovated units.
MAA
MAA
MAA Revenue by Segment
Revenue by Segment
Total Same Store Revenue
CapyFin.com Forward Guidance
MAA withdrew its calendar year 2020 guidance for Net income per diluted common share, Core FFO per Share and Core AFFO per Share.