Mid-America Apartment Communities, Inc. Q4 Profit Increases, beats estimates

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

The company's earnings totaled $184.72 million, or $1.60 per share. This compares with $82.42 million, or $0.72 per share, in last year's fourth quarter.

Excluding items, Mid-America Apartment Communities, Inc. reported adjusted earnings of $205.87 million or $1.74 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.4% to $463.58 million from $423.66 million last year.

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

-Earnings (Q4): $184.72 Mln. vs. $82.42 Mln. last year. -EPS (Q4): $1.60 vs. $0.72 last year. -Analyst Estimate: $0.75 -Revenue (Q4): $463.58 Mln vs. $423.66 Mln last year.