GERMANTOWN, Tenn. (AP) _ Mid-America Apartment Communities Inc. (MAA) on Wednesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.

The Germantown, Tennessee-based real estate investment trust said it had funds from operations of $199.7 million, or $1.69 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.64 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $215.6 million, or $1.88 per share.

The real estate investment trust posted revenue of $436.9 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $429.7 million.

The company's shares have climbed 48% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $187.83, a rise of 66% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAA at https://www.zacks.com/ap/MAA

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