Mid-America Apartment Communities, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Mid-America Apartment Communities, Inc. (MAA) reported earnings for first quarter that dropped from last year.

The company's bottom line totaled $35.73 million, or $0.31 per share. This compares with $62.74 million, or $0.55 per share, in last year's first quarter.

Excluding items, Mid-America Apartment Communities, Inc. reported adjusted earnings of $176.62 million or $1.49 per share for the period.

Analysts had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.2% to $418.10 million from $401.18 million last year.

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

-Earnings (Q1): $176.62 Mln. vs. $164.75 Mln. last year. -EPS (Q1): $1.49 vs. $1.40 last year. -Analysts Estimate: $0.59 -Revenue (Q1): $418.10 Mln vs. $401.18 Mln last year.