Mid America Apartment Communities Inc Issues FY, Q1 2013 FFO Guidance In Line With Analysts' Estimates

Mid America Apartment Communities Inc announced that it is providing initial guidance for 2013 FFO per share based on its current and expected views of the apartment market and overall economic conditions.MAA intends to update its FFO per share guidance to the market on a quarterly basis. Fiscal 2013 FFO per share for fiscal 2013 is expected to be $4.73 to $4.93, or $4.83 at the mid-point. Guidance for 2013 includes combined FFO per share dilution of approximately $0.12 per Share related to the Company's development pipeline and asset recycling program, as well as an additional $0.01 per share of expected non-cash charges related to debt refinancing activities. FFO per share for the first quarter of 2013 is expected to be $1.13 to $1.25 per Share, or $1.19 at the mid-point. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO per share of $4.82 for fiscal 2013 and FFO per share of $1.16 for the first quarter of 2013.