MAA Revises FY24 Core FFO From $8.68-$9.08 To $8.70-$9.06
Portfolio Pulse from Benzinga Newsdesk
MAA has updated its FY24 Core FFO guidance from $8.68-$9.08 to $8.70-$9.06, maintaining the midpoint at $8.88. The company also provided Q2 2024 Core FFO guidance at $2.11-$2.27 per diluted share, with a midpoint of $2.19. This adjustment reflects changes in same store revenues, expenses, and non-same store NOI. MAA's same store portfolio metrics remain unchanged, with property revenue growth at 0.15%-1.65% and NOI growth at -2.80% to 0.20%.
May 01, 2024 | 8:45 pm
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NEUTRAL IMPACT
MAA revised its FY24 Core FFO guidance slightly, indicating a stable financial outlook. The Q2 2024 guidance suggests a slight decrease from Q1 2024 results, attributed to higher operating expenses.
The slight adjustment in MAA's FY24 Core FFO guidance and the detailed Q2 2024 outlook reflect a stable but cautious financial projection. The unchanged midpoint suggests that MAA is maintaining its financial targets, while the expected increase in operating expenses for Q2 2024 is typical for the industry during the summer leasing season. This information is crucial for investors focusing on MAA's operational efficiency and financial stability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100