Mid-America Apartment Q2 core FFO per share falls on historically low resident turnover
MAA•Outlook
- MAA lowers 2026 earnings per share guidance to $3.96-$4.20 from $4.18-$4.50
- Company maintains 2026 core FFO per share guidance at $8.41-$8.65
- MAA expects Q3 2026 core FFO per share of $2.04-$2.16
Overview
- US apartment REIT's Q2 revenue rose slightly year-over-year
- Core FFO per share and EPS declined from prior year
- Company repurchased 0.4 mln shares for $50 mln in Q2
Company press release: ID:nPn231Vb3a
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 EPS | $1.04 | ||
| Q2 Core FFO Per Share | $2.08 |
Result drivers
- Steady demand - Co said steady demand supported Q2 Core FFO results, according to CEO Brad Hill
- Lease pricing - Sequential improvement in new lease pricing and strong renewal rates contributed to blended lease pricing gains
- Low resident turnover - Resident turnover remained historically low at 39.6% in Q2, with few move-outs for single-family home purchases
