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Mid America Apartment Communities Inc Raises FY 2013 FFO Guidance; Issues Q2, Q3, Q4 FFO Guidance In Line With Analysts' Estimates; Comments On FY 2013 Revenue Guidance


Wednesday, 1 May 2013 04:05pm EDT 

Mid America Apartment Communities Inc updated fiscal 2013 guidance and expects increase in the fiscal 2013 FFO (funds from operation) per Share guidance to a range of $4.77-$4.97 is appropriate, including $1.7 million, or $0.04 per Share, of acquisition expenses. FFO per Share for the second quarter of 2013 is expected to be $1.16 to $1.28, for the third quarter of 2013 is expected to be $1.13 to $1.25, and for the fourth quarter of 2013 is expected to be $1.15 to $1.27. Consistent with earlier guidance, management continues to expect NOI growth for the same store portfolio for the fiscal 2013 of 4% to 6%, based on revenue growth of 4% to 5% and expense growth of 3.5% to 4.5%. The Compony reported revenues of $496.27 million for fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $4.87 and revenues of $542.49 million for fiscal 2013; FFO of $1.22 for the second quarter of 2013; FFO of $1.21 the third quarter of 2013; FFO of $1.25 for the fourth quarter of 2013. 

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23 Jan 2015