Mid-America Apartment Communities, Inc. | REIT Profile

Symbol: MAA
CIK: 912595
Exchange: NYSE
Preferred Stock: MAA-I
Founded: 1977 (45 years)
HQ: Memphis, TN, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Residential

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See MAA on SEC.gov

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About Mid-America Apartment Communities, Inc.

MAA (NYSE: MAA) is an S&P 500 company and real estate investment trust (REIT), focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities. With an investment portfolio that is uniquely balanced and diversified across the high growth Southeast, Southwest and Mid-Atlantic regions of the U.S., MAA has successfully navigated numerous business cycles, captured significant growth and built an efficient, technology-driven operating platform. Supported by a strong, investment-grade balance sheet, the company has paid 98 consecutive quarterly common dividends and delivered a long-term return to shareholders that has consistently ranked in the top-tier of performances within the overall REIT sector. As of June 30, 2018, MAA had ownership interest in 101,362 apartment homes, including those in communities under development, across 17 states and the District of Columbia.


Mid-America Apartment Communities, Inc. Company Logo

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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$172.73 $174.11 $171.37 $172.50 $173.11 $173.11 132,906 -$0.38 -0.22% $19,937,810,384 33.67 $229.26 $152.23 -23.99%

Last update: 2022-05-19 09:03:20 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 8.4

Hightlights of Trading Day May 18, 2022


Open Price: $176.89
Closing Price: $173.11
Price Change: -3.44 (-1.948%)
Lowest Price: $172.38
Highest Price: $177.66
52-Week Low: $150.84
52-Week High: $229.26
52-Week Change: 14.59%
5 Day Price Change: 1.30%
1 Month Price Change: -14.04%
3 Month Price Change: -13.46%
6 Month Price Change: -12.69%
YTD Price Change: -22.26%
1 Year Price Change: 14.72%
2 Year Price Change: 74.25%
5 Year Price Change: 108.42%

Dividend of Trading Day May 18, 2022


Dividend Yield: 2.513%*
Annualized Dividend: $4.35*
Dividend Yield (TTM): 2.375%
Annualized Dividend (TTM): $4.193
Ex-Dividend Date: 2022-04-13
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for MAA.

Year Quarter Type Amount Dividend Paid Payout Ratio
2021 Q4 FFO $--- $--- ---%
2021 Q4 AFFO $--- $--- ---%
2021 Q3 AFFO $--- $--- ---%
2021 Q3 FFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day May 18, 2022


Total Cash: $60,371,000
Current Debt: $531,351,000
Revenue: $1,829,155,000
Gross Profit: $1,829,155,000
Total Revenue: $1,829,155,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $1,037,572,000
Revenue Per Share: $16
Revenue Per Employee: $738,754
Employee: 2,021
Debt to Equity Ratio (D/E): 1.89
Profit Margin: 0.32%
Enterprise Value (EV): $25,226,400,455
Enterprise Value to Revenue (EV/R): 13.79
Price to Sales (P/S): 11.34
Price to Book (P/B): 3.50
Price/Earnings-to-Growth (PEG) Ratio: 0.28
P/E Ratio: 33.74
P/E High: 21.95
P/E Low: 18.69
Forward P/E Ratio: 47.09
Market Capitalization: $19,981,672,875
Beta: 0.67
Latest Volume: 756,303
Avg. Total Volume: 692,521
Avg. 10-Day Volume: 686,786
Avg. 30-Day Volume: 692,521
TTM EPS: 5.13
Shares Outstanding: 115,427,606
Float: N/A
50-Day Moving Avg.: $198.72
200-Day Moving Avg.: $206.22

Latest REIT Community Comments on #MAA


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Properties Owned by MAA


MAA Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website


Properties Based on Earnings Report's 10-K

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $135.38 per share you would have been able to buy 7 shares of MAA on 2021-05-19 costing $947.66 @ $135.38 per share you would have been able to buy 3 shares of MAA on 2021-05-19 costing $406.14 @ $135.38 per share you would have been able to buy 1 shares of MAA on 2021-05-19 costing $135.38 @ $135.38 per share you would have been able to buy 0 shares of MAA on 2021-05-19 costing $0.00 @ $135.38 per share you would have been able to buy 0 shares of MAA on 2021-05-19 costing $0.00
Current worth On 2022-05-18 these 7 shares would be worth $1,211.77 @ $173.11 On 2022-05-18 these 3 shares would be worth $519.33 @ $173.11 On 2022-05-18 these 1 shares would be worth $173.11 @ $173.11 On 2022-05-18 these 0 shares would be worth $0.00 @ $173.11 On 2022-05-18 these 0 shares would be worth $0.00 @ $173.11
Dividends earned $29.58 in dividends would have been earned since 2021-05-19 with 7 shares. $13 in dividends would have been earned since 2021-05-19 with 3 shares. $4.23 in dividends would have been earned since 2021-05-19 with 1 shares. $0.00 in dividends would have been earned since 2021-05-19 with 0 shares. $0.00 in dividends would have been earned since 2021-05-19 with 3 shares.
Net (gain / loss)* 293.69 USD 125.87 USD 41.96 USD 0.00 USD 0.00 USD
ROI** 30.99% 30.99% 30.99% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by MAA. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
MAA 2022-04-13 1.088 --- 2022-03-22 2022-04-14 2022-04-29
MAA 2022-01-13 1.088 6.10% 2021-12-07 2022-01-14 2022-01-31
MAA 2021-10-14 1.025 --- 2021-09-28 2021-10-15 2021-10-29
MAA 2021-07-14 1.025 --- 2021-05-18 2021-07-15 2021-07-30
MAA 2021-04-14 1.025 --- 2021-03-23 2021-04-15 2021-04-30
MAA 2021-01-14 1.025 2.50% 2020-12-08 2021-01-15 2021-01-29
MAA 2020-10-14 1.000 --- 2020-09-24 2020-10-15 2020-10-30
MAA 2020-07-14 1.000 --- 2020-05-19 2020-07-15 2020-07-31
MAA 2020-04-14 1.000 --- 2020-03-19 2020-04-15 2020-04-30
MAA 2020-01-14 1.000 4.17% 2019-12-10 2020-01-15 2020-01-31
MAA 2019-10-14 0.960 --- 2019-09-26 2019-10-15 2019-10-31
MAA 2019-10-11 0.960 --- 2019-09-26 2019-10-15 2019-10-31
MAA 2019-07-12 0.960 --- 2019-05-21 2019-07-15 2019-07-31
MAA 2019-04-12 0.960 --- 2019-03-21 2019-04-15 2019-04-30
MAA 2019-01-14 0.960 4.07% 2018-12-04 2019-01-15 2019-01-31
MAA 2018-10-12 0.923 --- 2018-09-25 2018-10-15 2018-10-31
MAA 2018-07-12 0.923 --- 2018-05-22 2018-07-13 2018-07-31
MAA 2018-04-12 0.923 --- 2018-03-13 2018-04-13 2018-04-30
MAA 2018-01-11 0.923 6.03% 2017-12-05 2018-01-12 2018-01-31
MAA 2017-10-12 0.870 --- 2017-09-26 2017-10-13 2017-10-31

Earnings Press Releases


Below are the Earnings Press Releases for MAA. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2022 Q1 Mid-America Apartment Communities Inc - MAA REPORTS FIRST QUARTER 2022 RESULTS
2021 Q4 MAA Reports Fourth Quarter And Full Year Results
2021 Q3 MAA Reports Third Quarter Results
2021 Q2 MAA Reports Second Quarter Results

Financial Statements Overview


The next Earnings Report for MAA is 2022-07-27

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Current Cash 60,371,000 54,302,000 29,811,000 31,881,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 72,624,000 130,598,000 41,521,000 43,004,000
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 11,126,451,000 11,154,584,000 11,212,611,000 11,199,116,000
Property, Plant & Equipment Net 10,830,754,000 10,856,076,000 10,890,083,000 10,939,468,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 252,965,000 255,681,000 237,245,000 216,715,000
Net Tangible Assets 5,919,938,000 5,965,168,000 5,897,139,000 5,918,706,000
Total Assets 11,199,075,000 11,285,182,000 11,254,132,000 11,242,120,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 531,351,000 554,149,000 598,592,000 546,524,000
Total Current Liabilities 531,351,000 554,149,000 598,592,000 546,524,000
Current Long-term Debt 0 0 0 0
Long-term Debt 4,537,505,000 4,516,690,000 4,540,887,000 4,553,237,000
Total Liabilities 5,279,128,000 5,320,005,000 5,356,984,000 5,323,405,000
Minority Interest 210,272,000 218,915,000 217,505,000 223,644,000
Common Stock 115,259,000 115,178,000 114,933,000 114,494,000
Retained Earnings -1,268,827,000 -1,255,807,000 -1,309,511,000 -1,272,694,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 5,919,947,000 5,965,177,000 5,897,148,000 5,918,715,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Total Revenue 476,078,000 463,575,000 452,575,000 436,927,000
Cost of Revenue 0 0 0 0
Gross Profit 476,078,000 463,575,000 452,575,000 436,927,000
Research and Development 0 0 0 0
Selling General and Admin 16,323,000 14,121,000 12,670,000 13,114,000
Operating Expense 336,018,000 331,924,000 333,950,000 327,451,000
Operating Income 140,060,000 131,651,000 118,625,000 109,476,000
Income Expense Net (Other) 23,000 609,000 170,000 32,000
EBIT 140,462,000 132,556,000 119,053,000 109,833,000
Interest Income 39,121,000 39,108,000 39,234,000 38,867,000
Pretax Income 112,135,000 198,706,000 89,850,000 225,920,000
Income Tax -1,442,000 7,790,000 2,803,000 2,045,000
Minority Interest 2,775,000 6,946,000 2,568,000 7,397,000
Net Income 109,801,000 183,416,000 83,477,000 215,322,000
Net Income Basic 109,801,000 183,416,000 83,477,000 215,322,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-03-31 2021-12-31 2021-09-30 2021-06-30
Net Income 109,801,000 183,416,000 83,477,000 215,322,000
Depreciation 133,986,000 135,737,000 134,766,000 132,092,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 60,371,000 54,302,000 29,811,000 31,881,000
Cash Flow 179,623,000 216,717,000 280,932,000 249,207,000
Capital Expenditures -43,444,000 108,738,000 -140,829,000 -180,061,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -83,532,000 16,069,000 -137,117,000 -20,039,000
Dividends Paid 0 0 0 0
Net Borrowings 4,477,134,000 4,462,388,000 4,511,076,000 4,521,356,000
Cash Flow Financing -154,065,000 -143,709,000 -401,516,000 26,679,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.7
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.7
9 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.7
6 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.4
Rating AFFO & Efficiency Section Avg. Rating
10 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.5
8 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 6.9
4 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.5
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.3
9 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.5
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.7
9 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
7 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
8 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1
Rating Asset & Revenue Section Avg. Rating
9 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.4
6 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.6
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.3
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 7.8
8 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
7 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 4.4
8.4 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-05-19 - v3.3