Mid-America Apartment Communities, Inc. (NYSE:MAA) Q4 2023 Earnings Call Transcript

James Feldman : Okay. So I guess like even if you have an aggressive lease up or lease up better than expectation, do you think that $0.05 is still locked in? Or there a way that could go away?

Andrew Schaeffer : I mean it would have to be a pretty meaningful change in how that would lease up to really move the needle on that $0.05.

James Feldman : Okay. And then finally, just a clarification. I think you had mentioned 0.85 is your blend assumption. And then you answered the last question with 1%. I know we’re splitting here, but is 0.85 still the right number or is it 1%?

Andrew Schaeffer : Yes. So our blended number is 1%. So that’s the blended pricing we’ve got built into our revenue guidance, but our overall effective rent growth is the 0.85%. So that 0.85% includes the earn in that we’ve got for from 2023 plus the 1% of the blended that we’re looking at for 2024.

Operator: We have no further questions at this time. I will return the call to MAA for closing remarks.

Eric Bolton : All right. Thanks, everybody, for joining us this morning, and I’m sure speak to many of you over the spring. Thank you.

Operator: This concludes today’s program. Thank you for your participation and you may now disconnect.