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MAA

Mid-America Apartment Communities, Inc.

MAA

Mid-America Apartment Communities, Inc. • NYSE
$135.89 ▲ 0.28% (+0.38)
Market Cap $15.91 B
52w High $173.38
52w Low $125.75
Dividend Yield 6.06%
P/E 28.79
Volume 388.23K
Outstanding Shares 117.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $554.373M ▲ $12.525M ▼ $99.538M ▼ 17.955% ▼ $0.843 ▼ $306.737M ▼
Q2-2025 $549.902M ▲ $12.813M ▼ $108.127M ▼ 19.663% ▼ $0.92 ▼ $309.744M ▼
Q1-2025 $549.295M ▼ $15.619M ▲ $181.673M ▲ 33.074% ▲ $1.55 ▲ $384.66M ▲
Q4-2024 $549.832M ▼ $14.072M ▲ $166.646M ▲ 30.309% ▲ $1.42 ▲ $367.535M ▲
Q3-2024 $551.126M $12.728M $115.195M 20.902% $0.98 $308.079M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $32.249M ▼ $11.927B ▲ $5.912B ▲ $5.838B ▼
Q2-2025 $54.482M ▼ $11.836B ▲ $5.745B ▲ $5.912B ▼
Q1-2025 $55.776M ▲ $11.812B ▼ $5.654B ▼ $5.974B ▲
Q4-2024 $43.018M ▼ $11.812B ▲ $5.665B ▲ $5.964B ▼
Q3-2024 $50.232M $11.756B $5.602B $5.971B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $102.044M ▼ $-548.042M ▼ $-254.371M ▼ $-34.249M ▲ $-22.184M ▼ $-386.501M ▼
Q2-2025 $110.875M ▼ $353.449M ▲ $-176.917M ▼ $-177.87M ▼ $-1.338M ▼ $264.544M ▲
Q1-2025 $186.406M ▲ $196.618M ▼ $-61.405M ▲ $-122.52M ▼ $12.693M ▲ $123.982M ▼
Q4-2024 $171.074M ▲ $239.127M ▼ $-173.911M ▲ $-72.516M ▼ $-7.3M ▲ $152.611M ▼
Q3-2024 $118.23M $309.538M $-321.76M $-217K $-12.439M $215.457M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Non Same Store And Other
Non Same Store And Other
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Same Store
Same Store
 $520.00M ▲$520.00M ▲$520.00M ▲$520.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last five years, showing a stable and expanding rental base. Profitability at the property level remains solid, with operating income holding up well despite a tougher interest-rate and cost environment. Net income and earnings per share peaked a couple of years ago and have eased back slightly since, suggesting pressure from higher expenses, financing costs, or non‑cash items rather than a breakdown in the core business. Overall, the income statement reflects a mature, well-run REIT with steady growth rather than rapid acceleration, and relatively resilient earnings through different market conditions.

Balance Sheet

Balance Sheet The balance sheet looks balanced and conservative for a residential REIT. Total assets have inched up over time, reflecting a gradually expanding property portfolio rather than aggressive, high-risk growth. Debt has risen but remains in proportion to the company’s size, and equity is substantial, indicating a solid capital base and moderate leverage. Cash on hand is small, which is typical for REITs that distribute much of their income, but the overall structure suggests financial flexibility and capacity to handle normal market swings, though it is still exposed to shifts in interest rates and property values.

Cash Flow

Cash Flow Cash generated from day‑to‑day operations has grown consistently, which is a healthy sign for a rental-focused business. After funding maintenance and development spending, the company still produces positive free cash flow, showing that it can both invest in its portfolio and support shareholder distributions. Capital spending has been meaningful, with a particularly heavy investment year earlier in the period, signaling ongoing reinvestment in properties and new developments. Overall, the cash flow profile suggests a stable, cash‑generative platform with disciplined but continuous investment in the asset base.

Competitive Edge

Competitive Edge MAA holds a strong position in the multifamily REIT space, built around its heavy focus on high‑growth Sunbelt markets where population and job growth have been robust. Its large and diversified portfolio across many cities and property types reduces dependence on any single market and improves resilience. Scale gives it cost advantages in operations, marketing, and technology deployment that smaller landlords often lack. A long‑tenured management team and historically conservative financial approach further strengthen its standing. However, the company remains exposed to regional economic slowdowns, new construction competition, and regulatory changes in key markets.

Innovation and R&D

Innovation and R&D While real estate is not research‑heavy like technology or pharmaceuticals, MAA has leaned into innovation in practical ways. Its smart‑home program, built with SmartRent, brings app‑based control of locks, lighting, and climate into many units, improving both resident experience and operational efficiency. Digital tools such as virtual tours, online leasing, and resident portals streamline the entire customer lifecycle. The company is also experimenting with sustainability initiatives, including solar, water conservation, and EV charging, and appears attentive to remote‑work trends through work‑friendly amenities. Future opportunities lie in deeper use of data analytics, expansion of smart devices, and more visible sustainability and work‑from‑home features across the portfolio.

Summary

Overall, MAA comes across as a steady, disciplined apartment REIT with a clear geographic strategy in the Sunbelt, solid property-level profitability, and consistently strong cash generation. The balance sheet and capital allocation approach look measured rather than aggressive, supporting long‑term stability. Earnings growth has cooled a bit from its recent peak, reflecting a more challenging environment rather than structural weakness in the business model. The company’s use of smart‑home technology, resident‑friendly programs, and digital tools helps differentiate it in a competitive rental landscape. Key watchpoints include interest rates, new supply in its markets, and how effectively it can keep enhancing its properties and services to match evolving renter expectations.

NEWS

November 3, 2025 · 4:45 PM UTC

MAA Announces Pricing of Senior Unsecured Notes Offering

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October 29, 2025 · 4:15 PM UTC

MAA REPORTS THIRD QUARTER 2025 RESULTS

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October 17, 2025 · 9:15 AM UTC

OS Therapies Granted Final Type C Meeting by U.S. FDA and pre-MAA Meeting by U.K. MHRA for OST-HER2 in the Prevention or Delay of Recurrent, Fully Resected, Pulmonary Metastatic Osteosarcoma

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October 9, 2025 · 4:15 PM UTC

MAA Announces Date of Third Quarter Earnings Release, Conference Call

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September 23, 2025 · 4:15 PM UTC

MAA Announces Quarterly Common Dividend

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