May 1 (Reuters) - Mid-America Apartment Communities , a multifamily-focused real estate investment trust (REIT), on Wednesday reported first-quarter core funds from operations (FFO) per share in line with estimates amid supply pressures in key Sunbelt markets.

Mid-America Communities operates multi-family apartment communities primarily located in the Southeast, Southwest and Mid-Atlantic regions of the United States. As per its latest annual report, the REIT currently owns and operates about 300 such communities across 16 states and the District of Columbia.

"Core FFO results for the first quarter were in line with our expectations, reflecting the impact of new supply deliveries across a number of markets," said CEO Eric Bolton.

The Sunbelt region has been under pressure from an increasing number of apartment constructions, which have led to subdued year-on-year rent growth in this region.

The Memphis, Tennessee-based company reported first-quarter core FFO at $2.22 per share, down from $2.28 per share last year, but in line with the analysts' average estimate of $2.22 per share, according to LSEG data.

The company expects full-year 2024 core FFO, a key performance measure for REITs, to be in the range of $8.70 to $9.06 per share, the midpoint of which is slightly missing analysts' average estimate of $8.90 per share. (Reporting by Rupali Chaudhary; Editing by Alan Barona)