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MAA logoMid-America Apartment Communities, Inc.(MAA)Earnings, Financials & Key Ratios

MAA•NYSE•REIT / Real Estate
$130.16
$15.14B mkt cap·34.4× P/E·Price updated May 6, 2026
SectorReal EstateIndustryResidential REITsSub-IndustryDiversified apartment REITs
AboutMAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia.Show more
  • Revenue$2.21B+0.8%
  • FFO$1.07B-4.0%
  • FFO/Share9.13-4.3%
  • FFO Payout66.29%+7.5%
  • FFO per Share9.13-4.3%
  • NOI Margin31.83%-2.2%
  • FFO Margin48.41%-4.8%
  • ROE7.46%-12.0%
  • ROA3.76%-17.0%
  • Debt/Assets45.14%+6.5%
  • Net Debt/EBITDA4.30+7.8%
  • Book Value/Share49.86-5.3%
Analysis→Technical→

MAA Key Insights

Mid-America Apartment Communities, Inc. (MAA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Sustainable FFO payout ratio of 66.3%
  • ✓14 consecutive years of dividend growth
  • ✓Healthy dividend yield of 4.7%

✗Weaknesses

  • ✗FFO declining 10.9% TTM
  • ✗Low NOI margin of 31.8%
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MAA Price & Volume

Mid-America Apartment Communities, Inc. (MAA) stock price & volume — 10-year historical chart

Loading chart...

MAA Growth Metrics

Mid-America Apartment Communities, Inc. (MAA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years7.8%
5 Years5.65%
3 Years3.03%
TTM0.77%

Profit CAGR

10 Years3.01%
5 Years11.91%
3 Years-11.16%
TTM-28.8%

EPS CAGR

10 Years-1.53%
5 Years11.53%
3 Years-11.64%
TTM-31.25%

Return on Capital

10 Years4.68%
5 Years5.7%
3 Years6.08%
Last Year5.58%

MAA Recent Earnings

Mid-America Apartment Communities, Inc. (MAA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
Apr 29, 2026
EPS
$1.09
Est $0.83
+31.5%
Revenue
$554M
Est $556M
-0.4%
Q1 2026
Feb 4, 2026
EPS
$2.23
Est $2.22
+0.5%
Revenue
$556M
Est $556M
-0.1%
Q4 2025
Oct 29, 2025
EPS
$2.16
Est $2.17
-0.5%
Revenue
$554M
Est $557M
-0.4%
Q3 2025
Jul 30, 2025
EPS
$2.15
Est $2.14
+0.5%
Revenue
$550M
Est $558M
-1.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$1.09vs $0.83+31.5%
$554Mvs $556M-0.4%
Q1 2026Feb 4, 2026
$2.23vs $2.22+0.5%
$556Mvs $556M-0.1%
Q4 2025Oct 29, 2025
$2.16vs $2.17-0.5%
$554Mvs $557M-0.4%
Q3 2025Jul 30, 2025
$2.15vs $2.14+0.5%
$550Mvs $558M-1.5%
Based on last 12 quarters of dataView full earnings history →

MAA Peer Comparison

Mid-America Apartment Communities, Inc. (MAA) competitors in Diversified apartment REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EQR logoEQREquity ResidentialDirect Competitor24.82B66.2522.774.06%30.56%8.4%5.2%0.77
AVB logoAVBAvalonBay Communities, Inc.Direct Competitor25.77B185.2525.074.29%34.64%8.76%5.49%0.79
CPT logoCPTCamden Property TrustDirect Competitor10.97B104.7429.591.92%32.81%8.71%3.52%0.88
UDR logoUDRUDR, Inc.Direct Competitor12.04B36.9432.692.42%28.6%12.37%5.1%1.49
ESS logoESSEssex Property Trust, Inc.Direct Competitor17.2B266.6925.627.11%30.17%9.99%6.25%1.20
NHI logoNHINational Health Investors, Inc.Product Competitor3.54B73.0924.2012.93%36.81%9.77%6.22%0.76
IRT logoIRTIndependence Realty Trust, Inc.Product Competitor3.89B16.5068.752.76%7.27%1.35%3.77%0.64
NXRT logoNXRTNexPoint Residential Trust, Inc.Product Competitor748.15M29.48-23.40-3.24%-12.67%-10.13%11.17%5.18

Compare MAA vs Peers

Mid-America Apartment Communities, Inc. (MAA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EQR

Most directly comparable listed peer for MAA.

Scale Benchmark

vs PLD

Larger-name benchmark to compare MAA against a more recognizable public peer.

Peer Set

Compare Top 5

vs EQR, AVB, CPT, UDR

MAA Income Statement

Mid-America Apartment Communities, Inc. (MAA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue1.53B1.57B1.64B1.68B1.78B2.02B2.15B2.19B2.21B2.21B
Revenue Growth %35.87%2.77%4.43%2.25%5.97%13.6%6.37%1.98%0.83%0.77%
Property Operating Expenses1.11B1.13B1.16B1.2B1.26B1.33B1.4B1.48B1.51B1.21B
Net Operating Income (NOI)
414.96M▲ 0%
439.37M▲ 5.9%
476.32M▲ 8.4%
474.37M▼ 0.4%
517.75M▲ 9.1%
687.71M▲ 32.8%
747.48M▲ 8.7%
713.27M▼ 4.6%
703.07M▼ 1.4%
1B▲ 0%
NOI Margin %27.14%27.96%29.03%28.27%29.12%34.05%34.79%32.55%31.83%45.35%
Operating Expenses60.18M38.85M43.84M46.86M52.88M58.83M58.58M56.52M83.63M117.67M
G&A Expenses40.19M38.85M43.84M46.86M52.88M58.83M58.58M56.52M54.81M55.9M
EBITDA849.32M891.51M930.26M939.19M999.28M1.17B1.25B1.24B1.24B1.24B
EBITDA Margin %55.55%56.74%56.69%55.97%56.2%58.07%58.4%56.74%56.22%55.98%
Depreciation & Amortization494.54M491M497.79M511.68M534.41M544M565.86M586.4M622.63M631.98M
D&A / Revenue %32.34%31.25%30.33%30.49%30.06%26.93%26.34%26.76%28.18%28.55%
Operating Income
354.78M▲ 0%
400.51M▲ 12.9%
432.47M▲ 8.0%
427.51M▼ 1.1%
464.87M▲ 8.7%
628.88M▲ 35.3%
688.9M▲ 9.5%
656.75M▼ 4.7%
619.44M▼ 5.7%
607.15M▲ 0%
Operating Margin %23.2%25.49%26.35%25.48%26.14%31.13%32.06%29.97%28.04%27.43%
Interest Expense154.75M173.59M179.85M167.56M156.88M154.75M149.23M168.54M185.26M4M
Interest Coverage3.21x2.34x3.05x2.59x4.59x5.18x4.83x4.23x3.76x-
Non-Operating Income-141.76M-4.88M-116.03M-5.89M-255.14M-172.86M-31.18M-56.66M-76.53M-40.22M
Pretax Income
341.79M▲ 0%
231.8M▼ 32.2%
368.66M▲ 59.0%
265.84M▼ 27.9%
563.13M▲ 111.8%
646.99M▲ 14.9%
570.85M▼ 11.8%
544.87M▼ 4.6%
460.17M▼ 15.5%
405.05M▲ 0%
Pretax Margin %22.35%14.75%22.47%15.84%31.67%32.03%26.57%24.87%20.83%18.3%
Income Tax2.62M2.61M3.7M3.33M13.64M-6.21M4.74M5.24M4.59M-1.96M
Effective Tax Rate %0.77%1.13%1%1.25%2.42%-0.96%0.83%0.96%1%-0.48%
Net Income
328.38M▲ 0%
222.9M▼ 32.1%
353.81M▲ 58.7%
254.62M▼ 28.0%
533.79M▲ 109.6%
637.44M▲ 19.4%
552.81M▼ 13.3%
527.54M▼ 4.6%
446.91M▼ 15.3%
402.62M▲ 0%
Net Margin %21.48%14.19%21.56%15.17%30.02%31.56%25.73%24.08%20.23%18.19%
Net Income Growth %54.73%-32.12%58.73%-28.03%109.64%19.42%-13.28%-4.57%-15.28%-28.8%
Funds From Operations (FFO)
822.92M▲ 0%
713.89M▼ 13.2%
851.6M▲ 19.3%
766.3M▼ 10.0%
1.07B▲ 39.4%
1.18B▲ 10.6%
1.12B▼ 5.3%
1.11B▼ 0.4%
1.07B▼ 4.0%
1.03B▲ 0%
FFO Margin %53.82%45.43%51.89%45.67%60.08%58.49%52.07%50.84%48.41%46.74%
FFO Growth %53.67%-13.25%19.29%-10.02%39.4%10.6%-5.31%-0.42%-3.99%-38.36%
FFO per Share7.246.057.206.699.2910.229.599.549.138.86
FFO Payout Ratio %48.04%58.81%51.4%59.68%44.04%45.67%58.26%61.66%66.29%51.41%
EPS (Diluted)
2.86▲ 0%
1.89▼ 33.9%
2.99▲ 58.2%
2.19▼ 26.8%
4.61▲ 110.5%
5.48▲ 18.9%
4.71▼ 14.1%
4.49▼ 4.7%
3.78▼ 15.8%
3.45▲ 0%
EPS Growth %6.32%-33.92%58.2%-26.76%110.5%18.87%-14.05%-4.67%-15.81%-31.25%
EPS (Basic)2.861.893.002.204.625.494.714.493.79-
Diluted Shares Outstanding113.69M117.97M118.2M114.5M115.04M115.58M116.64M116.78M117.11M116.74M

MAA Balance Sheet

Mid-America Apartment Communities, Inc. (MAA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets11.49B11.32B11.23B11.19B11.29B11.24B11.48B11.81B11.98B11.99B
Asset Growth %-0.97%-1.46%-0.82%-0.32%0.81%-0.39%2.16%2.85%1.38%6.73%
Real Estate & Other Assets11.35B11.22B11.11B11.11B11.11B11.14B11.39B11.71B11.49B289.44M
PP&E (Net)0000000000
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets94.19M51.67M70.54M35.62M130.6M61.07M55.09M64.53M120.38M84.86M
Cash & Equivalents10.75M34.26M20.48M25.2M54.3M38.66M41.31M43.02M60.26M84.86M
Receivables0000000000
Other Current Assets83.44M17.41M50.06M10.42M76.3M22.41M13.78M21.51M13.72M0
Intangible Assets11.2M3.9M2.6M1.3M900K01.6M1M00
Total Liabilities4.91B4.94B4.93B5.09B5.1B5.03B5.19B5.66B6.14B6.29B
Total Debt4.5B4.53B4.45B4.56B4.52B4.44B4.57B5.01B5.41B5.66B
Net Debt4.49B4.49B4.43B4.54B4.46B4.4B4.53B4.96B5.35B5.57B
Long-Term Debt4.09B3.99B4.38B4.39B4.52B4.39B4.05B4.73B5.41B5.66B
Short-Term Borrowings410M540M70M172M020M495M250M00
Capital Lease Obligations0000028.67M27.34M26.09M023.7M
Total Current Liabilities815.56M953.85M542.26M700.27M584.4M558.01M1.06B856.74M730.37M0
Accounts Payable00000101.99M94.46M124.81M00
Deferred Revenue0000065.13M65.18M64.63M00
Other Liabilities0000049.16M51.54M50.92M0629.49M
Total Equity
6.58B▲ 0%
6.38B▼ 3.1%
6.3B▼ 1.2%
6.1B▼ 3.2%
6.18B▲ 1.3%
6.21B▲ 0.4%
6.3B▲ 1.4%
6.15B▼ 2.4%
5.84B▼ 5.0%
5.71B▲ 0%
Equity Growth %-1.02%-3.08%-1.22%-3.17%1.32%0.43%1.43%-2.4%-5.01%-16.44%
Shareholders Equity6.35B6.16B6.08B5.89B6B6.03B6.11B5.96B5.68B5.56B
Minority Interest233.98M222.35M220.89M216.78M188.73M184.66M185.88M183.3M156.39M149.67M
Common Stock11.54M10.55M15.27M16.54M31.34M21.82M20.34M23.4M1.17M19.35M
Additional Paid-in Capital7.12B7.14B7.17B7.18B7.23B7.2B7.4B7.42B7.4B7.33B
Retained Earnings-784.5M-989.26M-1.09B-1.29B-1.26B-1.19B-1.3B-1.47B-1.73B-1.79B
Preferred Stock9K9K9K9K9K9K9K9K9K9K
Return on Assets (ROA)2.84%1.95%3.14%2.27%4.75%5.66%4.87%4.53%3.76%3.37%
Return on Equity (ROE)4.96%3.44%5.58%4.1%8.69%10.29%8.84%8.48%7.46%6.81%
Debt / Assets39.18%39.99%39.67%40.76%40.02%39.53%39.77%42.39%45.14%47.16%
Debt / Equity0.68x0.71x0.71x0.75x0.73x0.72x0.73x0.81x0.93x0.93x
Net Debt / EBITDA5.29x5.04x4.77x4.83x4.47x3.76x3.61x3.99x4.30x4.30x
Book Value per Share57.9254.0953.3353.3153.7653.7354.0052.6449.8648.90

MAA Cash Flow Statement

Mid-America Apartment Communities, Inc. (MAA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations660.8M734.29M781.42M823.95M894.97M1.06B1.14B1.1B1.08B1.08B
Operating CF Growth %36.25%11.12%6.42%5.44%8.62%18.27%7.44%-3.42%-1.83%-102.3%
Operating CF / Revenue %43.22%46.73%47.62%49.1%50.33%52.4%52.93%50.13%48.81%48.71%
Net Income340.54M231.02M366.62M264.01M550.7M654.78M567.83M541.58M456.57M402.62M
Depreciation & Amortization494.54M491M497.79M511.68M534.41M544M565.86M586.4M622.97M632.49M
Stock-Based Compensation10.57M12.44M13.65M14.33M16.66M18.8M15.7M15.79M16.84M17.4M
Other Non-Cash Items-137.22M-6.91M-109.03M-4.24M-262.74M-143.04M-17.06M-49.26M-27.45M-295.82M
Working Capital Changes-49.92M9.31M12.38M38.17M55.92M-16.06M4.86M3.79M9.25M132.75M
Cash from Investing-294.21M-366.35M-238.27M-484.73M-253.59M-405.24M-775.26M-825.5M-690.22M-751.37M
Acquisitions (Net)-1.5M-2.9M-5.39M-5.35M-4.67M-13.85M-16.64M-2.87M-9.85M-6.17M
Purchase of Investments0000000000
Sale of Investments0000307.89M009.97M00
Other Investing51.18M-108.73M-42.68M-253.88M-45.53M-95.21M-417.4M-510.23M-320.13M-457.59M
Cash from Financing-399.52M-405.14M-524.28M-374.14M-546.4M-722.77M-367.9M-271.12M-370.74M-264.42M
Dividends Paid-398.98M-423.54M-441.43M-461.04M-474.09M-543.29M-655.4M-690.59M-712.71M-714.46M
Common Dividends-395.29M-419.85M-437.74M-457.36M-470.4M-539.61M-651.72M-686.9M-709.02M-531.92M
Debt Issuance (Net)1000K1000K-1000K1000K-1000K-1000K1000K1000K1000K3M
Share Repurchases-4.78M-2.92M000000-27.23M-100.02M
Other Financing-21.24M-20.28M-14.52M-21.59M-28.22M-74.16M-38.71M-28.41M-55.66M123.69M
Net Change in Cash
-32.93M▲ 0%
-37.19M▼ 12.9%
18.87M▲ 150.7%
-34.93M▼ 285.1%
94.98M▲ 372.0%
-69.53M▼ 173.2%
-5.98M▲ 91.4%
1.67M▲ 127.9%
17.21M▲ 930.8%
15.41M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning121.8M88.87M51.67M70.54M35.62M130.6M61.07M55.09M56.76M73.97M
Cash at End88.87M51.67M70.54M35.62M130.6M61.07M55.09M56.76M73.97M84.86M
Free Cash Flow
316.91M▲ 0%
479.58M▲ 51.3%
591.22M▲ 23.3%
598.44M▲ 1.2%
383.69M▼ 35.9%
762.3M▲ 98.7%
795.96M▲ 4.4%
775.92M▼ 2.5%
717.94M▼ 7.5%
595.98M▲ 0%
FCF Growth %5.28%51.33%23.28%1.22%-35.89%98.68%4.42%-2.52%-7.47%-20.72%
FCF / Revenue %20.73%30.52%36.03%35.66%21.58%37.74%37.05%35.41%32.5%26.92%

MAA Key Ratios

Mid-America Apartment Communities, Inc. (MAA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share7.246.057.26.699.2910.229.599.549.138.86
FFO Payout Ratio48.04%58.81%51.4%59.68%44.04%45.67%58.26%61.66%66.29%51.41%
NOI Margin27.14%27.96%29.03%28.27%29.12%34.05%34.79%32.55%31.83%45.35%
Net Debt / EBITDA5.29x5.04x4.77x4.83x4.47x3.76x3.61x3.99x4.30x4.30x
Debt / Assets39.18%39.99%39.67%40.76%40.02%39.53%39.77%42.39%45.14%47.16%
Interest Coverage3.21x2.34x3.05x2.59x4.59x5.18x4.83x4.23x3.76x-
Book Value / Share57.9254.0953.3353.3153.7653.735452.6449.8648.9
Revenue Growth35.87%2.77%4.43%2.25%5.97%13.6%6.37%1.98%0.83%0.77%

MAA SEC Filings & Documents

Mid-America Apartment Communities, Inc. (MAA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Feb 27, 2026·SEC

Material company update

Feb 27, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 6, 2026·SEC

FY 2025

Feb 7, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 30, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 31, 2025·SEC

MAA Frequently Asked Questions

Mid-America Apartment Communities, Inc. (MAA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Mid-America Apartment Communities, Inc. (MAA) reported $2.21B in revenue for fiscal year 2025. This represents a 1878% increase from $111.9M in 1996.

Mid-America Apartment Communities, Inc. (MAA) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, Mid-America Apartment Communities, Inc. (MAA) is profitable, generating $402.6M in net income for fiscal year 2025 (20.2% net margin).

Dividend & Returns

Yes, Mid-America Apartment Communities, Inc. (MAA) pays a dividend with a yield of 4.65%. This makes it attractive for income-focused investors.

Mid-America Apartment Communities, Inc. (MAA) has a return on equity (ROE) of 7.5%. This is below average, suggesting room for improvement.

Industry Metrics

Mid-America Apartment Communities, Inc. (MAA) generated Funds From Operations (FFO) of $1.03B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Mid-America Apartment Communities, Inc. (MAA) offers a 4.65% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More MAA

Mid-America Apartment Communities, Inc. (MAA) financial analysis — history, returns, DCA and operating performance tools

Full MAA Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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