MAA Q3 Core FFO $2.10, Same Store NOI down 1.8%

MAA reported Q3 diluted EPS of $0.72 and Core FFO per share of $2.10, both down from a year earlier. Same Store NOI fell 1.8% on 2.0% expense growth, while renewal pricing rose 5.3% and new lease pricing fell 6.0%. Management cited October new lease pricing improvement as the first year-over-year gain this year.