Mid-America Apartment Communities, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Mid-America Apartment Communities, Inc. (MAA) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $134.9 million, or $1.16 per share. This compares with $109.9 million, or $0.95 per share, in last year's first quarter.

Excluding items, Mid-America Apartment Communities, Inc. reported adjusted earnings of $2.31 per share for the period.

Analysts on average had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $529.0 million from $476.1 million last year.

Mid-America Apartment Communities, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $134.9 Mln. vs. $109.9 Mln. last year. -EPS (Q1): $1.16 vs. $0.95 last year. -Analyst Estimate: $1.10 -Revenue (Q1): $529.0 Mln vs. $476.1 Mln last year.