Oct 29 (Reuters) - Mid-America Apartment Communities MAA.N forecast annual adjusted funds from operations (AFFO) below analysts' estimate on Wednesday, reflecting pressure from an oversupplied market, ongoing economic uncertainty and slower employment growth.
The Memphis, Tennessee-based real estate investment trust manages more than 250 apartment buildings in the Southeast, Southwest and Mid-Atlantic regions. It counts cities such as Austin, Memphis and Phoenix as its key markets.
The company expects core adjusted FFO, a key measure of performance for a REIT, in the range of $7.70 to $7.82 per share for 2025, the midpoint of which is below analysts' estimate of $8.74 per share, according to data compiled by LSEG.
It posted adjusted FFO of $1.81 per share for the quarter ended September 30, compared with the estimate of $2.19 per share.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shilpi Majumdar)
((Anshuman.Tripathy@thomsonreuters.com;))