Mid-America Reports Strong First Quarter Results
Mid-America Apartment Communities, Inc. MAA (the Company) reported net income available for common shareholders for the quarter ended March 31, 2006, of $1,636,000, or $0.07 per common share, as compared to $613,000, or $0.03 per common share for the quarter ended March 31, 2005. Funds from operations (FFO), the widely accepted measure of performance for real estate investment trusts, was $20,781,000, or $0.84 per share/unit for the quarter ended March 31, 2006, compared to $18,741,000 or $0.79 per share/unit for the same quarter in the prior year.
This quarters FFO per share/unit of $0.84 is the highest first quarter FFO performance in the Companys twelve-year history and it represents a year over year growth in FFO per share/unit of 6.3%.
Soure: news.moneycentral.msn.com
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