SummaryMid-America Apartment Communities is rated 'Buy' for its discounted valuation, strong balance sheet, and historically high 5.25% dividend yield.MAA trades at 13.7x forward P/FFO, well below its long-term average of 16.1x, offering attractive value for long-term investors.Improving lease pricing, record-low turnover, and robust Sunbelt migration trends support a recovery in rental growth and FFO/share expansion.Redevelopment projects generate 25% cash-on-cash returns, while declining new supply and high occupancy underpin MAA’s medium-term growth outlook.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More »benedek/iStock via Getty Images
Dividend stocks tend to take a back seat when interest rates rise, due to competition for yield from treasury bonds. However, I would make the case that dividend stocks backed by hard assets are worthwhile to own, especially when their
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Perpetual Ltd cut its holdings in Mid-America Apartment Communities, Inc. (NYSE: MAA) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,774 shares of the real estate investment trust's stock after selling 15,092 shares
The three-year supply glut that crushed apartment rents is finally fading, but not every landlord stands to benefit equally. Four REITs are positioned differently by geography, leverage, and dividend room as the tide turns.
Apartment REITs are heading into a better period for income investors. The flood of new construction that held down rents for three years is fading, and tenant demand is holding up. Mid-America Apartment Communities (NYSE:MAA) said second-quarter absorption across its markets ran at 1.8 times new delivery, which means tenant moved into more apartments than builders finished. The group also got smaller. AvalonBay Communities and Equity Residential completed their merger of equals on Aug. 17, 2026, so this edition covers four NYSE-listed landlords.
How to Read the Coverage Numbers Before You Read the Yields All four companies here are equity REITs. They own apartment buildings and collect rent. This edition has no mortgage REITs. That matters because mREITs own loans and mortgage securities, so their payouts depend on interest-rate spreads and credit losses, risks that property owners mostly avoid. For dividend safety, we compare each company’s declared dividend with its Core FFO (funds from operations). Where a company reports Core AFFO, which also deducts recurring capital spending, we use that too. GAAP earnings payout ratios don’t work for REITs. Depreciation reduces GAAP earnings, and property-sale gains can inflate them. Mid-America’s second-quarter GAAP EPS, for example, included a $35.3 million gain on sale.
REIT Recent Price Annualized Dividend Yield Dividend as % of Core FFO Essex Property Trust (NYSE:ESS) $270.64 $10.36 3.83% 64% of 2026 guidance midpoint Vivmark Residential (NYSE:VMRK) $60.14 $2.81 4.67% 69% of legacy EQR Q2 Normalized FFO Camden Property Trust (NYSE:CPT) $97.19 $4.24 4.36% 63% of 2026 guidance midpoint Mid-America Apartment Communities $116.52 $6.12 5.25% 72% of 2026 guidance midpoint Essex Property Trust: Tightest Supply and a 32-Year Raise Streak Essex Property Trust (NYSE:ESS) owns apartments only on the West Coast, in Southern California, Northern California and the Seattle metro. Its markets have some of the lowest new supply in the country. San Francisco is expected to add only 900 units in 2026 and 800 in 2027, and new supply across Essex’s markets runs at 0.4% of existing stock.
The rent roll shows it. Second-quarter financial occupancy was 96.3% and same-property revenue grew 2.7%. Blended rental rates rose 3.6%, and new leases turned positive at 1.0% after negative 2.4% in the first quarter. San Francisco same-property revenue grew 7.0%.
Yield and coverage: The $10.36 annualized dividend yields 3.83%, the lowest in this group. Coverage is the strongest. The full-year Core FFO guidance midpoint was raised by $0.20 to $16.14, and the dividend uses only 64% of that. This year’s increase was the 32nd consecutive annual increase, though it was small, with the quarterly payout rising from $2.57 to $2.59.
Bull case: Essex pairs the tightest supply with the most room under its payout. That leaves space for larger raises once rent gains build. The shares are up 6.72% year to date, the only gain in this group.
Risk: Borrowing costs are rising. Essex replaced expiring interest-rate swaps fixed at 2.7% with $340.3 million of new swaps at a 5.2% all-in fixed rate.
Vivmark Residential: A Larger Coastal Landlord and a Bigger Check for AvalonBay Holders Vivmark Residential (NYSE:VMRK) is the company created when AvalonBay merged into Equity Residential. It owns more than 180,000 rental apartments, with 10,000-plus units under construction. The portfolio is centered on San Francisco, New York, Boston, Washington, D.C., Southern California and Seattle, with smaller positions in Sunbelt and Mountain West growth markets. Each AvalonBay share converted into 2.793 Equity Residential shares, and Benjamin Schall, AvalonBay’s former chief executive, became president and CEO of the combined company.
Both companies were gaining momentum before the deal closed. Equity Residential reported second-quarter physical occupancy of 96.2%, same-store residential revenue growth of 2.1% and San Francisco revenue growth of 7.0%. AvalonBay’s blended rent change rose to 2.6% from 0.4% in the first quarter and reached 3.7% in July, with economic occupancy at 96.1%. Equity Residential’s chief executive at the time said “declining levels of new supply in most of our markets sets the combined company up for great success.”
Yield and coverage: Vivmark declared a $0.7025 quarterly dividend, payable Oct. 16, or $2.81 annualized, a 4.67% yield. Legacy AvalonBay holders now get about $1.96 per quarter for each old share, up from $1.78. Both companies withdrew per-share FFO guidance because of the deal, so there is no combined coverage figure yet. On second-quarter results, Equity Residential’s dividend used 69% of its $1.02 Normalized FFO, and AvalonBay’s used 62% of its $2.86 Core FFO.
Bull case: Vivmark is now one of the largest U.S. apartment owners. Its larger markets have little new supply, and AvalonBay brought a development pipeline of 27 communities with a $3.526 billion total capital cost.
Risk: Integration. Merging two large companies is costly and can distract management, and same-store expenses were guided to grow 3.0% to 4.0%, faster than revenue. The stock has fallen 8.32% over the past month. The first combined quarterly report will give investors their first coverage figure for the merged company.
Camden Property Trust: A Sunbelt Pivot Paid For With More Debt Camden Property Trust (NYSE:CPT) is now a Sunbelt-only REIT. It sold its entire California portfolio, 11 communities and 3,620 homes, for about $1.625 billion. This year it also bought 7 communities totaling 2,061 homes for $645.4 million across Atlanta, Orlando, Nashville, Dallas, Phoenix, Tampa and Charlotte.
Second-quarter results were soft but improving. Occupancy was 95.7%, and blended rental rates were (0.2)%: new leases fell 3.3% while renewals rose 2.8%. Blended rates turned positive in both June and July, and July occupancy reached 95.8%. Chief executive Alex Jessett said on the July 31 call: “When you hit that pivot point, it’s going to be more like a hockey stick than a slow slog growth in my opinion.”
Yield and coverage: The $4.24 annualized dividend yields 4.36%. It uses 63% of the $6.75 Core FFO guidance midpoint. Under the stricter Core AFFO measure, the second-quarter dividend of $1.06 used 76% of the $1.39 Core AFFO generated. It remains covered, but the margin is smaller.
Bull case: Camden now owns a newer portfolio in markets where new supply is falling, and it has been buying back stock aggressively. Year to date it has repurchased $422.9 million of shares at an average of $104.08, above the current price.
Risk: Leverage. Net debt to annualized adjusted EBITDAre rose to 5.3x from 4.2x a year earlier, and about $551.6 million of debt at 4.9% matures in the rest of 2026.
Mid-America Apartment Communities: Highest Yield, Weakest Rent Roll Mid-America Apartment Communities owns apartments across the Southeast, Southwest and Mid-Atlantic. Atlanta and Dallas are its two largest markets. Those Sunbelt markets took the biggest wave of new supply, and the rent roll still shows it. Same-store revenue slipped 0.3%, same-store NOI fell 1.0%, and new leases were -5.3%. On the positive side, occupancy held at 95.3%, turnover fell to 39.6%, renewals rose 5.2%, with third-quarter blended pricing projected to beat the second quarter, “a trend not seen in the last four years.”
Yield and coverage: The $6.12 annualized dividend yields 5.25%, the highest in this group. Most of that yield comes from a falling stock price. Shares are down 13.37% year to date and 9.15% over the past month, while the quarterly dividend rose only from $1.515 to $1.53. Coverage is enough: the dividend uses 72% of the $8.53 Core FFO guidance midpoint, the highest share in this group. The latest payout is the company’s 130th consecutive quarterly dividend.
Bull case: Mid-America has the lowest leverage here, with net debt relative to adjusted EBITDAre at 4.5x. If Sunbelt rents recover as new supply falls, today’s price reflects a higher starting yield than any of its peers offer.
Risk: Earnings power is still reduces. Full-year same-store NOI guidance has a midpoint of -0.90%, and second-quarter interest expense rose 17.8% to $53.13 million.
What Income Investors Should Track Into Third-Quarter Reports Essex has the safest dividend in this group: the lowest yield, the most room under its payout and currently the tightest supply. Vivmark’s first combined report will show whether its legacy coverage holds up after the merger. Camden and Mid-America pay more because their markets are still recovering, so their third-quarter new-lease rates will show whether those higher yields are sustainable.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- MAA (NYSE: MAA) announced today that the Company expects to release its third quarter 2026 results on Wednesday, October 28, 2026, after market close and will hold a conference call on Thursday, October 29, 2026, at 9:00 a.m. Central Time. During the conference call, company officers will review third quarter performance and conduct a question-and-answer session.
The conference call-in number is (833) 461-5787 (Domestic) or +1 (585) 542-9983 (International). A replay of the conference call will be available from October 29, 2026 through November 12, 2026 by dialing (833) 309-1852 (Domestic) or +1 (929) 828-5978 (International). The Meeting ID is 710029346.
A live webcast of the conference call will be available on the "For Investors" page of the Company's website at www.maac.com and an audio archive of the call will be posted on the Company's website following the call's conclusion.
About MAA
MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please refer to www.maac.com.
Wall Street analysts almost never agree, but a rare consensus has formed around five dividend stocks yielding 5% or more that could anchor your passive income for years to come.
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Investors love dividend stocks because they provide dependable passive income streams and an excellent opportunity for solid total return. Total return includes interest, capital gains, dividends, and distributions realized over time. In other words, the total return on an investment or portfolio consists of income and stock appreciation. At 24/7 Wall St., we have focused on dividend stocks for 20 years because, despite the stock market’s ups and downs, many people need reliable passive income streams to supplement their income from employment or other sources such as Social Security and pensions.
We asked Google’s Gemini AI bot to screen for stocks yielding 5% or more that Wall Street research analysts like best and have the most Buy ratings. Not surprisingly, many of the companies that we have recommended in the past showed up on the list, and many are stocks we have followed for years.
The upside for investors is that when Wall Street analysts agree on certain companies, it helps balance risk for those looking for companies they can depend on. The five we chose from the group have delivered dependable dividends and earnings for years. In a market where interest rate increases have hit many dividend-paying names, it makes sense to look for solid, attractive values.
Why Do We Cover the High-Yielding Dividend Stocks?
Since 1926, dividends have accounted for approximately 32% of the S&P 500’s total return, while capital appreciation has accounted for 68%. Therefore, sustainable dividend income and the potential for capital appreciation are essential to total return expectations. A study by Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized return of 9.18% over 50 years (1973 to 2023). Over the same timeline, this was more than double the annualized return for non-payers (3.95%).
Here are five companies many Wall Street analysts now agree are Strong Buy ideas.
Amcor This company is a Dividend Aristocrat and an excellent investment, as its products remain in high demand and it pays a substantial 6.22% dividend. Amcor executed a reverse stock split early this year. Amcor (NYSE: AMCR | AMCR Price Prediction) is engaged in packaging solutions for consumer and healthcare products. The company develops sustainable packaging in flexible and rigid formats across multiple materials. The stock earns high-conviction Buy ratings because of its significant scale as a global packaging leader and its highly reliable capital return program.
The company operates through two segments. The Flexibles segment comprises operations that manufacture flexible and film packaging for the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries. The Rigid Packaging segment consists of operations that manufacture rigid containers for a broad range of predominantly beverage and food products, including:
Carbonated soft drinks Water, juices, and sports drinks Milk-based beverages Spirits and wine Sauces Dressings and spreads Personal care items Plastic caps for a wide variety of applications Amcor’s subsidiaries include:
Berry Global Amcor Flexibles North America Amcor UK Finance Amcor Finance (USA) Truist has a Buy rating with a $60 target price.
Energy Transfer Energy Transfer (NYSE: ET) is one of North America’s largest and most diversified midstream energy companies. This top master limited partnership is a solid option for investors seeking energy exposure and income, paying a 6.69% distribution yield. Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint across all major domestic production basins.
With 12 Buy ratings driven by upgraded EBITDA guidance and massive distributable cash flow, this is a solid energy idea now.
The company’s core operations include:
Complementary natural gas midstream, intrastate, and interstate transportation and storage assets Crude oil, natural gas liquids (NGL), and refined product transportation and terminalling assets NGL fractionation Various acquisition and marketing assets Following the acquisition of Enable Partners in December 2021, Energy Transfer owns and operates over 114,000 miles of pipelines and related assets in 41 states, spanning all major U.S. producing regions and markets. This solidifies its leadership position in the midstream sector.
Through its ownership of Energy Transfer Operating, formerly known as Energy Transfer Partners, the company also owns Lake Charles LNG Company; the general partner interests, the incentive distribution rights, and 28.5 million standard units of Sunoco (NYSE: SUN); and the public partner interests and 39.7 million standard units of USA Compression Partners (NYSE: USAC).
Capital One Financial has an Overweight rating with a $26 target price.
International Paper With a rich 5.89% dividend and a product that remains in demand, this top stock is still incredibly attractive. International Paper (NYSE: IP) provides sustainable packaging solutions. The company produces renewable fiber-based packaging products and operates manufacturing facilities in North America, Latin America, Europe, and North Africa. Across 13 recent analyst ratings, the company has strong Wall Street backing, with price targets implying up to 77% potential upside.
Its segments include:
Packaging Solutions North America Packaging Solutions EMEA The company’s products and services include Packaging, Packaging Services, and Recycling. It provides corrugated packaging, solid fiber, corrugated sheets, retail displays, bulk packaging, and more.
International Paper also offers related services such as design and fulfillment to support these solutions. It provides a range of packaging and display services, from design and testing to fulfillment, including structural and graphic design, printing, testing, mechanical assembly, and packaging.
The company offers recycling solutions and services to manage fiber recovery programs for retailers, grocers, e-commerce companies, distribution centers, manufacturers, and its own box plants.
Citigroup has a Buy rating with a $47 target price.
Mid-America Apartment Communities This company pays a reliable 5.23% dividend and offers investors a top-tier A-/A3 credit rating and rare financial stability among real estate investment trusts (REITs). Mid-America Apartment Communities (NYSE: MAA) is a multifamily-focused, self-administered, and self-managed real estate investment trust. The company owns, operates, acquires, and selectively develops apartment communities primarily located in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
The Same Store segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year. The Non-Same Store and Other segment includes recently acquired communities, communities being developed or on lease-up, communities that have been disposed of or identified for disposition, and others. This segment also includes non-multifamily activities and expenses related to severe weather events.
Mid-America Apartment Communities has ownership interest in apartment units, including communities in development, across 16 states and the District of Columbia.
Citigroup has a Buy rating with a $143 target price.
Verizon Verizon Communications (NYSE:VZ) is an American multinational telecommunications company that continues to offer tremendous value. It trades at 9.13 times its estimated 2026 earnings and pays a 6.08% dividend. Verizon provides communications, technology, information, and entertainment products and services to consumers, businesses, and government entities worldwide.
Verizon’s trailing 12-month interest coverage ratio is 4.6× to 5×, providing ample cushion for dividend payments. With a very predictable revenue stream from telecom services, the company has less exposure to commodity cycles. In addition, its scale helps with financing and absorbing shocks. Public reports indicate that management has increased the dividend for 20 consecutive years and expects at least $21.5 billion in free cash flow this year. While higher debt refinancing costs have weighed on capital-intensive telecom operations, Verizon offers strong, steady cash flow.
It operates in two segments. The Consumer segment provides wireless services across the United States through Verizon and TracFone networks, as well as through wholesale and other arrangements. It also provides fixed wireless access (FWA) broadband through its wireless networks and related equipment and devices, such as:
Smartphones Tablets Smartwatches Other wireless-enabled connected devices The segment also offers wireline services in the Mid-Atlantic and northeastern United States through its fiber-optic network, Verizon Fios product portfolio, and copper-based network.
The Business segment provides wireless and wireline communications services and products, including:
FWA broadband Data Video and conferencing Corporate networking Security and managed network Local and long-distance voice Network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally.
TD Cowen has a Buy rating with a $56 target price.
Contact [email protected] for any questions or corrections.
BASEL, Switzerland, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Today Ultragenyx announced that the European Medicines Agency (EMA) has validated the Company's Marketing Authorisation Application (MAA) for its investigational gene therapy, rebisufligene etisparvovec, for the treatment of mucopolysaccharidosis type IIIA (MPS IIIA), also known as Sanfilippo syndrome Type A.
EMA validation confirms that the application is sufficiently complete for the Agency to begin its formal scientific review. Validation does not constitute approval of the application, nor does it represent a determination regarding the safety or efficacy of the investigational therapy, nor guarantee that the application will ultimately receive marketing authorisation. "The validation of our application by the EMA marks an important regulatory milestone in the ongoing review process for this investigational therapy," said Jane Cooper, Senior Vice President and Region Head for Europe, Middle East and Africa at Ultragenyx. "We recognize the significant unmet need within the MPS IIIA community and continue to advance our global regulatory strategy with the European Medicines Agency (EMA). We also plan to expand to other geographies over time.”
MPS IIIA is a rare, progressive inherited disorder associated with severe neurological impairment and significant unmet medical need. Currently, treatment options remain limited for affected children and their families. The investigational gene therapy has also received PRIority MEdicines (PRIME) designation and Orphan Drug Designation from the European Medicines Agency, reflecting rarity and the seriousness of MPS IIIA and the significant unmet medical need experienced by affected patients and their families. These designations are intended to support the development and evaluation of medicines for serious conditions and rare diseases and should not be interpreted as an indication that marketing authorisation will be granted.
As an investigational advanced therapy medicinal product, the application will fall within the scope of the European Union's Joint Clinical Assessment (JCA) framework introduced under the EU Health Technology Assessment Regulation. The JCA is intended to support a coordinated clinical assessment process across EU Member States and represents a new component of the broader pathway to patient access.
The Company is also continuing discussions with health authorities in multiple regions and has initiated regulatory engagement activities with the UK's Medicines and Healthcare products Regulatory Agency (MHRA) and the Saudi Food and Drug Authority (SFDA) as part of its broader objective to pursue potential future geographic expansion.
About Sanfilippo Syndrome Type A
Sanfilippo syndrome Type A is an ultra-rare, fatal lysosomal storage disease that primarily affects the brain and is marked by rapid, progressive neurodegeneration beginning in early childhood. Children with Sanfilippo syndrome Type A typically experience progressive global developmental delay, followed by the loss of cognitive, language, and motor function, ultimately leading to early death. Sanfilippo syndrome Type A is estimated to affect approximately 3,000 to 5,000 patients in commercially accessible geographies, with a median life expectancy of 15 years. The disease is caused by a deficiency of the sulfamidase (SGSH) enzyme, which results in the accumulation of heparan sulfate substrate in cells and progressive damage to the central nervous system.
About rebisufligene etisparvovec
Rebisufligene etisparvovec is a single-dose intravenous AAV9 gene therapy designed to deliver a functional copy of the deficient enzyme gene that can express and replace the SGSH enzyme. Ultragenyx received FDA approval for rebisufligene etisparvovec on September 17th 2026.
About Ultragenyx
Ultragenyx is a biopharmaceutical company committed to bringing novel therapies to patients for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved medicines and treatment candidates aimed at addressing diseases with high unmet medical need and clear biology, for which there are typically no approved therapies treating the underlying disease. The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx’s strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.
Forward-Looking Statements and Ultragenyx's Use of Digital Media
Except for the historical information contained herein, this press release contains forward-looking statements, including statements regarding the EMA’s review of the Marketing Authorisation Application for rebisufligene etisparvovec (UX111); the potential timing and outcome of that review and any European Commission decision; the potential safety, efficacy and benefits of UX111; the Joint Clinical Assessment process and potential patient access in EU Member States; and Ultragenyx’s plans for regulatory engagement and potential expansion in other geographies. These statements are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, among others, the possibility that the EMA or other health authorities request additional data, studies or manufacturing information, delay review, or decline to grant marketing authorisation or other approvals; that clinical data do not establish the safety and efficacy required for approval; that manufacturing, quality or supply issues arise; that the Joint Clinical Assessment or national pricing and reimbursement processes delay or limit patient access; and that engagement with authorities outside the EU does not result in submissions or approvals. PRIME and orphan designations, and EMA validation of the application, do not assure approval or patient access.
For further information about risks and uncertainties affecting Ultragenyx, see its Quarterly Report on Form 10-Q filed on August 5, 2026, and subsequent periodic reports filed with the SEC. Ultragenyx undertakes no obligation to update or revise these forward-looking statements, except as required by law
In addition to its SEC filings, press releases and public conference calls, Ultragenyx uses its investor relations website and social media outlets to publish important information about the company, including information that may be deemed material to investors, and to comply with its disclosure obligations under Regulation FD. Financial and other information about Ultragenyx is routinely posted and is accessible on Ultragenyx’s Investor Relations website (https://ir.ultragenyx.com/) and LinkedIn website (https://www.linkedin.com/company/ultragenyx-pharmaceutical-inc-/).
, /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced that its board of directors approved a quarterly dividend payment of $1.53 per share of common stock to be paid on October 30, 2026, to shareholders of record on October 15, 2026.
This announcement represents the 131st consecutive quarterly cash dividend declared by the company. MAA has never reduced or suspended its quarterly common dividend payment in its over 30-year history as a public company.
As established in prior quarters, the board of directors declared the quarterly common dividend in advance of MAA's earnings announcement that is expected to be made on October 28, 2026.
About MAA
MAA is a self-administered real estate investment trust (REIT) and member of the S&P 500. MAA owns or has ownership interest in apartment communities primarily throughout the Southeast, Southwest and Mid-Atlantic regions of the U.S. focused on delivering strong, full-cycle investment performance. For further details, please refer to www.maac.com or contact Investor Relations at [email protected].
Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended with respect to our expectations for future periods. Such statements include statements made about the payment of common dividends. The ability to meet the payment of common dividends in or contemplated by the forward-looking statements could differ materially from the projection due to a number of factors, including a downturn in general economic conditions or the capital markets, changes in interest rates and other items that are difficult to control such as increases in real estate taxes in many of our markets, as well as the other general risks inherent in the apartment and real estate businesses. Reference is hereby made to the filings of Mid-America Apartment Communities, Inc. with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual report on Form 10-K, particularly including the risk factors contained in the latter filing.
Mid-America Apartment Communities, Inc. (MAA) BofA NY Global Real Estate Conference 2026 September 16, 2026 3:00 PM EDT
Company Participants
Brad Hill - CEO, President & Director
A. Holder - Executive VP & CFO
Andrew Schaeffer - Senior VP, Treasurer & Director of Capital Markets
Conference Call Participants
Jana Galan - BofA Securities, Research Division
Presentation
Jana Galan
BofA Securities, Research Division
Good afternoon. Welcome to Bank of America's 2026 Global Real Estate Conference. I'm Jana Galan, BofA's residential REIT analyst, and we're thrilled to have with us MAA's President and CEO, Brad Hill; CFO, Clay Holder; and Treasurer, Andrew Schaeffer.
I'll turn it over to Brad for opening remarks, and then we can jump into Q&A.
Brad Hill
CEO, President & Director
Yes. Well, thank you. I appreciate everyone being here. I appreciate the time. It's been a great conference. We enjoy the building. It's been well received. So what I thought I'd do is just give a few opening comments and just jump right into questions. For those of you who aren't as familiar with MAA and our story, just a quick update or background.
MAA is a $22 billion S&P 500 multifamily REIT. We have about 105,000 apartment units, predominantly across the Sunbelt region of the U.S. We are located in 16 different states and our exclusive focus really is on multifamily in what we call high-growth, high-demand region of the country. Generally, that overlaps quite well with the Sunbelt markets throughout the Southeast.
If you look at our markets, what's characterized them historically has been significant outperformance on demand metrics, whether you're looking at household formation, population growth, migration trends, job growth, wage growth, our markets have consistently outperformed other regions of the country on all of those demand factors, and that continues to be the case today. Certainly, our markets, particularly if you look at the last
GERMANTOWN, Tenn., Sept. 10, 2026 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced that MAA will participate in a round table presentation at the BofA Securities 2026 Global Real Estate Conference.
Allworth Financial LP grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 19.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,083 shares of the real estate investment trust’s stock after purchasing an additional 6,649 shares during the quarter. Allworth Financial LP’s holdings in Mid-America Apartment Communities were worth $5,708,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in MAA. California State Teachers Retirement System boosted its position in Mid-America Apartment Communities by 15,857.1% in the 2nd quarter. California State Teachers Retirement System now owns 27,639,334 shares of the real estate investment trust’s stock valued at $3,840,209,000 after buying an additional 27,466,124 shares during the period. BlackRock Inc. bought a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $1,820,661,000. Norges Bank purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $750,603,000. Viking Global Investors LP bought a new position in Mid-America Apartment Communities in the third quarter worth approximately $369,597,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Mid-America Apartment Communities during the 2nd quarter worth $175,377,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Analyst Upgrades and Downgrades Several equities analysts have recently commented on the company. Truist Financial raised their price target on Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Wells Fargo & Company dropped their target price on shares of Mid-America Apartment Communities from $148.00 to $146.00 and set an “overweight” rating on the stock in a report on Tuesday, September 1st. Morgan Stanley cut their target price on shares of Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Scotiabank reduced their price target on shares of Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating for the company in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $143.94.
Get Our Latest Report on Mid-America Apartment Communities Mid-America Apartment Communities Stock Down 0.3% Shares of MAA stock opened at $127.55 on Thursday. The stock’s fifty day moving average price is $133.11 and its 200 day moving average price is $131.09. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $145.80. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 37.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $1.32. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The company had revenue of $555.13 million during the quarter, compared to analysts’ expectations of $556.18 million. During the same period last year, the business posted $2.15 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. On average, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.52 earnings per share for the current fiscal year.
(Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Read More Five stocks we like better than Mid-America Apartment Communities Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report).
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Amundi boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 31.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 677,443 shares of the real estate investment trust’s stock after purchasing an additional 160,210 shares during the period. Amundi owned approximately 0.58% of Mid-America Apartment Communities worth $94,124,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAA. Elevation Wealth Partners LLC increased its holdings in Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares in the last quarter. Raiffeisen Bank International AG boosted its position in shares of Mid-America Apartment Communities by 116.7% in the second quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 119 shares during the period. Nalls Sherbakoff Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $32,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at about $33,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $37,000. 93.60% of the stock is owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Down 0.3% Shares of NYSE MAA opened at $127.55 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $145.80. The stock’s 50-day simple moving average is $133.11 and its 200-day simple moving average is $131.09. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 37.30 and a beta of 0.73.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $1.32. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The firm had revenue of $555.13 million during the quarter, compared to the consensus estimate of $556.18 million. During the same quarter in the prior year, the business posted $2.15 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 1.0% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.52 earnings per share for the current fiscal year. Analyst Ratings Changes Several research firms recently commented on MAA. Truist Financial boosted their price target on Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Morgan Stanley lowered their price objective on shares of Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.94.
Read Our Latest Research Report on MAA
Mid-America Apartment Communities Company Profile (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Featured Articles Five stocks we like better than Mid-America Apartment Communities Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report).
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HB Wealth Management LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 37.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,255 shares of the real estate investment trust’s stock after acquiring an additional 5,469 shares during the quarter. HB Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $2,814,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $1,820,661,000. Norges Bank purchased a new stake in Mid-America Apartment Communities in the 4th quarter worth approximately $750,603,000. Viking Global Investors LP bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $369,597,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $175,377,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Mid-America Apartment Communities by 15,892.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust’s stock valued at $169,649,000 after buying an additional 1,213,390 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes Several analysts recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Mid-America Apartment Communities in a report on Thursday, August 27th. Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. assumed coverage on shares of Mid-America Apartment Communities in a research note on Thursday, July 16th. They set a “neutral” rating and a $147.00 target price on the stock. Piper Sandler reduced their price target on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Barclays decreased their price target on shares of Mid-America Apartment Communities from $147.00 to $146.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $143.94.
View Our Latest Research Report on Mid-America Apartment Communities Mid-America Apartment Communities Price Performance Shares of MAA stock opened at $128.04 on Wednesday. The business’s fifty day moving average is $133.36 and its 200 day moving average is $131.15. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 37.44 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a twelve month low of $120.30 and a twelve month high of $145.80.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $0.76 by $1.32. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The business had revenue of $555.13 million during the quarter, compared to analyst estimates of $556.18 million. During the same quarter last year, the firm posted $2.15 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. Research analysts expect that Mid-America Apartment Communities, Inc. will post 8.52 EPS for the current fiscal year.
(Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Featured Stories Five stocks we like better than Mid-America Apartment Communities Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report).
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Hsbc Holdings PLC raised its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,345 shares of the real estate investment trust’s stock after buying an additional 87,523 shares during the quarter. Hsbc Holdings PLC owned about 0.45% of Mid-America Apartment Communities worth $73,371,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MAA. Swiss Life Asset Management Ltd increased its holdings in shares of Mid-America Apartment Communities by 466.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust’s stock worth $6,310,000 after buying an additional 37,405 shares during the last quarter. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $750,603,000. BlackRock Inc. bought a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $1,820,661,000. Algebris UK Ltd. grew its position in Mid-America Apartment Communities by 27.5% in the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust’s stock worth $18,358,000 after acquiring an additional 28,528 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Mid-America Apartment Communities by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust’s stock worth $30,083,000 after acquiring an additional 8,724 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Up 0.0% Shares of NYSE:MAA opened at $128.35 on Tuesday. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $146.41. The business has a 50 day simple moving average of $133.58 and a two-hundred day simple moving average of $131.20. The firm has a market capitalization of $14.89 billion, a PE ratio of 37.53 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $0.76 by $1.32. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The firm had revenue of $555.13 million for the quarter, compared to the consensus estimate of $556.18 million. During the same period in the prior year, the business posted $2.15 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. On average, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.52 EPS for the current year. Wall Street Analysts Forecast Growth A number of equities research analysts have issued reports on the company. Jefferies Financial Group upgraded Mid-America Apartment Communities to a “hold” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company dropped their target price on Mid-America Apartment Communities from $148.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. Wall Street Zen upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Barclays decreased their price target on Mid-America Apartment Communities from $147.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings raised shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $144.69.
Get Our Latest Analysis on MAA
Mid-America Apartment Communities Company Profile (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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Mid-America Apartment Communities, Inc. remains rated Hold due to fair valuation and mixed fundamentals despite recent share outperformance. MAA faces modest declines in effective rent and occupancy, with rising expenses offset by incremental unit growth and an ongoing development pipeline. Management targets $45M in NOI from technology and operational initiatives through 2030, leveraging smart home tech, community Wi-Fi, and process efficiencies.
Bank of Nova Scotia acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 24,762 shares of the real estate investment trust’s stock, valued at approximately $3,449,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at approximately $1,135,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $5,347,000. Quantbot Technologies LP purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $59,000. Evolve Private Wealth LLC acquired a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $304,000. Finally, Farringdon Capital Ltd. acquired a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $291,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
Mid-America Apartment Communities Stock Performance Shares of MAA stock opened at $132.09 on Wednesday. Mid-America Apartment Communities, Inc. has a one year low of $120.30 and a one year high of $146.41. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The company has a 50 day moving average price of $134.71 and a 200 day moving average price of $131.52. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 38.62 and a beta of 0.73.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $1.32. The company had revenue of $555.13 million for the quarter, compared to the consensus estimate of $556.18 million. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $2.15 EPS. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.52 EPS for the current year. Wall Street Analysts Forecast Growth A number of research firms recently weighed in on MAA. Wall Street Zen upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. BNP Paribas Exane upgraded Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Scotiabank lowered their target price on Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company upped their target price on Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. assumed coverage on Mid-America Apartment Communities in a research report on Thursday, July 16th. They issued a “neutral” rating and a $147.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $144.81.
Check Out Our Latest Report on Mid-America Apartment Communities
(Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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Orphan Drug Designation application and pre-MAA Scientific Advice package submitted for Ebstrocel™ in RDEB
Filings support a planned EU MAA in Q1 2027; orphan designation, if granted and maintained through approval, may provide regulatory incentives and 10 years of market exclusivity
BOCA RATON, Fla., Aug. 26, 2026 (GLOBE NEWSWIRE) -- INmune Bio Inc. (NASDAQ: INMB) ("INmune Bio" or the "Company"), a late-stage biotechnology company focused on inflammation and immunology, today announced that it has submitted two regulatory packages to the European Medicines Agency (EMA) for Ebstrocel™: an application for Orphan Drug Designation and a Scientific Advice package to streamline the upcoming Marketing Authorization Application (MAA) in Europe. Ebstrocel™, the first product from the Company’s CORDStrom™ platform, is an investigational pooled, allogeneic, umbilical cord-derived mesenchymal stromal cell therapy being developed as a systemic treatment for recessive dystrophic epidermolysis bullosa (RDEB).
The EMA filings are intended to support the Company’s planned EU MAA in Q1 2027 and form part of a coordinated global registration strategy that includes a planned UK MAA in Q4 2026 and a planned U.S. Biologics License Application (BLA) in Q1 2027.
“These EMA submissions are another execution milestone as we move Ebstrocel from late-stage clinical development toward potential commercialization,” said David Moss, co-founder and Chief Executive Officer of INmune Bio. “Our focus is on converting the clinical, regulatory and manufacturing progress achieved to date into a defined sequence of registration milestones across the UK, European Union and United States. Each step advances Ebstrocel toward patients and provides an opportunity to validate the broader regulatory and commercial potential of the CORDStrom platform.”
Regulatory and Strategic Highlights
EU orphan designation: The application seeks orphan medicinal product designation for Ebstrocel™ in RDEB in Europe to align with the ODD already granted in USA. If granted, sponsors may receive incentives that include protocol assistance and fee reductions. If Ebstrocel™ later receives marketing authorization and maintains orphan status, the approved orphan indication may benefit from 10 years of EU market exclusivity, subject to applicable requirements.Pre-MAA engagement: The Scientific Advice package is intended to support dialogue with EMA on scientific, regulatory and procedural requirements before the planned MAA, helping the Company identify and address key questions earlier in the filing process.Defined global catalyst sequence: The Company is targeting a UK MAA in Q4 2026, followed by planned EU MAA and U.S. BLA submissions in Q1 2027.Platform leverage: Ebstrocel™ is the first disease-specific CORDStrom™ product to advance toward potential marketing authorization. Progress with Ebstrocel™ is expected to inform development of additional scalable, off-the-shelf therapies from the platform. RDEB and the Ebstrocel™ Opportunity
RDEB is a rare, debilitating genetic disease characterized by extreme skin fragility, chronic wounds, scarring and significant systemic complications. Ebstrocel™ is being developed as a systemic therapy intended to address disease manifestations beyond topical wound care.
“RDEB is a systemic disease with substantial unmet need beyond the visible manifestations of skin injury,” said Mark Lowdell, Ph.D., Chief Scientific Officer of INmune Bio and inventor of the CORDStrom™ platform. “Advancing Ebstrocel through European regulatory pathways is important for patients and for CORDStrom. Ebstrocel is our first opportunity to demonstrate how a pooled, scalable, off-the-shelf stromal cell platform can progress through late-stage regulatory development.”
About the European Regulatory Submissions
Orphan Drug Designation in the European Union is intended to support the development of medicines for rare, serious conditions. If granted, the designation can provide access to regulatory incentives during development. Market exclusivity is available only after marketing authorization and maintenance of orphan status at the time of approval.
The pre-MAA Scientific Advice process is designed to facilitate interaction with EMA in advance of an MAA submission and to help sponsors address scientific, regulatory and procedural considerations as they prepare a marketing authorization package.
About Ebstrocel™ and CORDStrom™
Ebstrocel™ is the RDEB-specific investigational product from INmune Bio’s proprietary CORDStrom™ platform. CORDStrom™ is a platform of pooled, allogeneic, human umbilical cord-derived mesenchymal stromal cell therapies designed to reduce donor variability and manufacturing inconsistency. The Company’s fully closed, semi-automated manufacturing approach is intended to support scalable, reproducible and off-the-shelf products that can be tailored for different therapeutic applications and routes of administration.
INmune Bio plans to continue its interactions with European regulators as it advances toward the planned MAA for Ebstrocel™.
About INmune Bio Inc.
INmune Bio Inc. is a publicly traded (NASDAQ: INMB), late-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. Moving beyond early-stage exploration, the Company’s clinical-development strategy centers on advanced precision medicine, matching drug mechanisms directly to patient biology to optimize clinical outcomes.
INmune Bio is actively advancing two late-stage product platforms toward registrational milestones:
CORDStrom™: A proprietary, pooled, allogeneic, human umbilical cord-derived mesenchymal stromal cell platform engineered to address the historical clinical challenges of donor variability and manufacturing inconsistency. Following successful clinical readouts in RDEB, the platform is transitioning to regulatory filing phases, with a UK MAA planned for 2026 and an EU MAA and U.S. BLA planned for Q1 2027.XPro1595™: A Dominant-Negative Tumor Necrosis Factor (DN-TNF) platform that selectively neutralizes soluble TNF (sTNF) to eliminate neuroinflammation without compromising protective immune function. Backed by FDA Fast Track designation and regulatory alignment from an End-of-Phase 2 meeting, XPro1595™ is positioned for an integrated Phase 2b/3 seamless adaptive registrational program in neuroinflammation-enriched early Alzheimer’s disease. To learn more about INmune Bio’s pipeline and its approach to harnessing the innate immune system, please visit www.inmunebio.com.
Forward Looking Statements
The Company’s product candidates are in clinical development and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release related to the development or commercialization of product candidates and other business and financial matters, including without limitation, trial results and data, including the timing of key milestones, future plans or expectations, and the prospects for receiving regulatory approval or commercializing or selling any product or drug candidates, may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to several risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements because of these risks and uncertainties. CORDStrom™, XPro1595™ (XPro™, pegipanermin), and INKmune™ have either finished clinical trials, are still in clinical trials or are preparing to start clinical trials and have not been approved by the U.S. Food and Drug Administration (FDA), the UK MHRA or any regulatory body and there cannot be any assurance that they will be approved by the FDA, the UK MHRA or any regulatory body or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, the Company’s Quarterly Reports on Form 10-Q and the Company’s Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
An EV maker on the rebound, a Sun Belt landlord facing fresh headwinds, and a clinical-stage biotech sitting on pivotal pipeline data have all landed on analysts' radars this week for very different reasons.
Three distinct sectors are drawing fresh analyst attention this week, spanning apartment REITs, electric vehicles and clinical-stage biotech. TD Cowen upgraded Rivian Automotive (NASDAQ:RIVN | RIVN Price Prediction) to Buy from Hold and raised its price target to $20, citing a detailed demand analysis for the upcoming R2 SUV. Truist maintained its Buy rating on Mid-America Apartment Communities (NYSE:MAA) but trimmed its price target to $142 from $146, pointing to near-term job market headwinds. Meanwhile, RBC Capital nudged its price target on Design Therapeutics (NASDAQ:DSGN) to $14 from $13 on an Outperform rating, with key pipeline data expected in the second half of 2026.
Together, the moves reflect a market still weighing macro pressures against company-specific catalysts.
Ticker Company Name Firm Old Rating New Rating Old Target New Target One-Line Takeaway RIVN Rivian Automotive TD Cowen Hold Buy $17 $20 R2 demand potential and post-selloff valuation drive the upgrade MAA Mid-America Apartment Communities Truist Buy Buy $146 $142 Buy maintained but near-term labor market softness warrants caution DSGN Design Therapeutics RBC Capital Outperform Outperform $13 $14 Pipeline progress and H2 2026 data readouts underpin the raised target The Analyst’s Case Rivian: TD Cowen’s upgrade rests on a proprietary demand analysis for the R2 SUV, projecting full-scale annual volumes of 212,000 to 335,000 units — well above what the broader analyst community is currently modeling for 2027. With Rivian stock down roughly 17.18% year to date, TD Cowen characterized the selloff as creating an attractive risk/reward profile at current levels. First deliveries of the R2 are targeted for Q2 2026, which gives the upgrade a clear near-term catalyst to watch.
MAA: Truist kept its Buy rating intact but acknowledged that weaker-than-expected national job growth is likely to weigh on near-term apartment revenue in MAA’s Sun Belt markets. The long-term thesis remains: as new apartment supply slows, fundamentals should gradually recover. The trim from $146 to $142 reflects a more measured timeline for that recovery rather than a change in conviction on the underlying business.
Design Therapeutics: RBC Capital’s incremental target raise to $14 reflects continued confidence in the company’s GeneTAC small-molecule platform and execution on its pipeline. Two programs are on track for data readouts in H2 2026: DT-216p2 targeting Friedreich’s ataxia and DT-168 targeting Fuchs Endothelial Corneal Dystrophy. RBC Capital’s raised target reflects a view that the risk/reward profile has modestly improved as the company moves closer to those milestones.
Company Snapshot and Recent Performance Rivian traded around $16.08 on Wednesday, Aug. 26, sitting well below its 52-week high of $22.69 but comfortably above its 52-week low of $12.39. The company posted its first full-year positive gross profit in Q4 2025, generating $120 million in quarterly gross profit and $144 million for the full year.
MAA shares traded around $132.12 on Aug. 26, down more than 5% year to date and off 7.36% over the past year. In 2026, same-store NOI growth is expected in a range of -1.70% to +0.30% for the year. On the positive side, resident turnover hit a record low of 40.2%, and MAA pays an annual dividend of $6.12 per share, translating to a yield of roughly 4.56% at current prices.
Design Therapeutics trade around $15.64 on Aug. 26, up nearly 72% year to date and nearly triple where it traded a year ago, with a 189.19% one-year gain. The company remains pre-revenue. Cash and investments of $219.84 million provide a runway the company says extends into 2029.
Why the Move Matters Now The consensus analyst price target for MAA suggests the stock is modestly undervalued relative to where the analyst community collectively sees fair value. Truist’s revised $142 target is slightly below that consensus, reflecting a more cautious near-term view. The backdrop matters: the national unemployment rate ticked up to 4.4% as of February 2026, up from 4.3% in January, a trend that can soften household formation and apartment demand in the near term.
For Rivian, TD Cowen’s $20 target implies meaningful upside from the current price of $15.87, and the R2 launch timeline in Q2 2026 gives investors a concrete catalyst within months. The consensus analyst target for RIVN stands at $17.88, making TD Cowen’s $20 target one of the more bullish on the Street.
For Design Therapeutics, the analyst community is uniformly constructive: Five analysts rate the stock Buy or Strong Buy, with zero Holds, Sells or Strong Sells. The consensus
Key Risks to Watch MAA: If job growth continues to soften and new apartment supply takes longer than expected to normalize, same-store NOI could come in at the low end of guidance or below. The 2026 same-store NOI range of -1.70% to +0.30% already reflects this uncertainty. Rivian: The R2 launch is critical, but any production delays, weaker-than-expected consumer demand, or further erosion of EV tax incentives could undermine the upgrade thesis quickly. The company’s adjusted EBITDA guidance of -$2.10 billion to -$1.80 billion for 2026 underscores that profitability remains a multi-year journey. Design Therapeutics: Clinical-stage biotech carries binary risk by definition. Negative or inconclusive Phase 1/2 data for DT-216p2 in H2 2026 could sharply reset the stock’s valuation, regardless of the cash position or pipeline breadth. This is not personalized financial advice. 247wallst.com and its writers do not own the stocks mentioned. Always do your own due diligence before investing.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- /PR Newswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), announced today that it will redeem for cash all of the outstanding shares of MAA's 8.50% Series I Cumulative Redeemable Preferred Stock, or the Series I Shares, on October 1, 2026.
MAA will pay a redemption price for the Series I Shares of $50.00 per share plus unpaid accrued dividends for October 1, 2026. Dividends on the Series I Shares will cease to accrue, and the Series I Shares will no longer be deemed outstanding, from and after the redemption date. All rights of the holders of the Series I Shares, except the right to receive the redemption price without interest, will cease on and after the redemption date.
Prior to the redemption date, MAA will pay the full quarterly dividend on the Series I Shares of $1.0625 per share on September 30, 2026, to holders of Series I Shares on September 15, 2026, which is the record date for such dividend.
All Series I Shares are held in book-entry form through The Depository Trust Company (DTC). Series I Shares held in book-entry form through DTC will be redeemed, including payment of the redemption price, according to DTC's procedures.
The Series I Shares were originally issued by Post Properties, Inc., or Post, in 1996 and were converted into MAA Series I Shares in connection with MAA's acquisition of Post in December 2016. Under the terms of the original Series I Shares, the redemption price must be funded with proceeds from the sale of other capital stock. To satisfy this requirement, MAA intends to fund the redemption with proceeds received upon settlement of a forward sale agreement entered into under its ATM equity offering program. The agreement has an initial forward sale price of $130.00 per share, subject to customary adjustments. MAA views the preferred redemption and the required common equity issuance as a targeted capital structure initiative rather than a traditional capital raising transaction. The transaction is expected to be accretive to Core FFO per share because the preferred dividend savings are expected to exceed the dilution associated with the common shares issued in connection with the redemption. The redemption will retire legacy preferred equity, simplify MAA's capital structure and eliminate the embedded derivative associated with the Series I Shares and its related accounting complexity.
About MAA
MAA, an S&P 500 company, is a 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 primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. As of June 30, 2026, MAA had ownership interest in 104,698 apartment units, including communities in development, across 16 states and the District of Columbia. For further details, please visit the MAA website at www.maac.com or contact Investor Relations at [email protected], or via mail at MAA, 6815 Poplar Ave., Suite 500, Germantown, TN 38138, Attn: Investor Relations.
A month has gone by since the last earnings report for Mid-America Apartment Communities (MAA - Free Report) . Shares have lost about 3.4% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Mid-America Apartment Communities due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Mid-America Apartment Q2 FFO Misses Estimates as Same-Store NOI FallsMid-America Apartment reported second-quarter 2026 core FFO per share of $2.08, missing the Zacks Consensus Estimate of $2.10. The metric declined 3.3% from the year-ago quarter.
Rental and other property revenues increased 1% year over year to $555.13 million but missed the consensus mark of $555.97 million.
Same-store NOI fell 1%, though blended lease-rate growth improved to 0.7% amid steady demand.
MAA's Same-Store Portfolio Remains Under PressureSame-store revenues declined 0.3% year over year, while property operating expenses increased 0.8%. The combination drove a 1% decrease in same-store NOI. Same-store NOI totaled $316.22 million, down from $319.50 million a year earlier.
Average effective rent per unit slipped 0.2% to $1,688. Average physical occupancy was 95.3%, reflecting continued pressure from elevated apartment deliveries across several of MAA’s Sunbelt markets.
Mid-America Apartment Sees Better Leasing TrendsLeasing indicators showed sequential improvement despite the decline in property-level earnings. Effective blended lease-rate growth reached 0.7%, improving 20 basis points year over year and 100 basis points from the first quarter.
Effective new-lease pricing declined 5.3%, but that marked a 170-basis-point sequential improvement. Renewal lease rates increased 5.2%, helping offset weaker pricing on new leases.
Resident turnover remained historically low at 39.6%. Move-outs associated with residents purchasing single-family homes represented only 10.9% during the quarter, supporting occupancy and renewal demand.
Mid-America Apartment Advances Development PipelineMAA ended the quarter with six development projects totaling 1,749 units. Expected development costs were $597.50 million, of which $360.36 million had been funded, leaving $237.14 million of expected spending.
The company completed MAA Plaza Midwood in Charlotte, NC, and began construction of a 263-unit community in Kansas City, MO. It also completed the initial lease-up of MAA Cathedral Arts in Dallas.
Five lease-up projects contained 1,759 units and were 74.4% occupied at quarter-end. Costs incurred on those communities totaled $623.74 million. Management expects four projects to stabilize during the second half of 2026.
Mid-America Apartment Maintains Balance Sheet CapacityMAA ended June with $882.8 million of combined cash and available borrowing capacity. Total debt was $5.69 billion, with an average effective interest rate of 3.9% and an average maturity of six years.
Fixed-rate borrowings represented 86.6% of total debt. Net debt to adjusted EBITDAre was 4.5X compared with 4.3X at the end of 2025.
During the quarter, MAA repurchased 0.4 million shares for $50 million. The company also entered into a delayed-draw term loan with commitments of up to $350 million and had $100 million outstanding at quarter-end.
MAA Updates Its 2026 OutlookMAA narrowed its full-year core FFO guidance range to $8.41-$8.65 per share from $8.37-$8.69. The midpoint remained unchanged at $8.53.
The company reduced its same-store revenue growth outlook to a range of negative 0.2% to positive 0.4%, with a midpoint of 0.1%. Its same-store operating expense growth range was lowered to 1.25%-2.25%, while projected NOI growth was revised to negative 1.7% to negative 0.1%.
For the third quarter, MAA expects core FFO per share of $2.04-$2.16. The $2.10 midpoint reflects anticipated contributions from same-store and non-same-store NOI, partly offset by higher interest expense.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresCurrently, Mid-America Apartment Communities has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Mid-America Apartment Communities has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,262,251 shares of the real estate investment trust’s stock, valued at approximately $175,377,000. Barrow Hanley Mewhinney & Strauss LLC owned about 1.09% of Mid-America Apartment Communities at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Algebris UK Ltd. raised its stake in shares of Mid-America Apartment Communities by 27.5% in the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust’s stock worth $18,358,000 after buying an additional 28,528 shares during the period. Norges Bank bought a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $750,603,000. Swiss Life Asset Management Ltd grew its stake in shares of Mid-America Apartment Communities by 466.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust’s stock valued at $6,310,000 after acquiring an additional 37,405 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Mid-America Apartment Communities by 4.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust’s stock worth $30,083,000 after acquiring an additional 8,724 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Mid-America Apartment Communities by 29.5% in the 4th quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust’s stock worth $34,281,000 after acquiring an additional 56,224 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.
Here are the key news stories impacting Mid-America Apartment Communities this week:
Positive Sentiment: Zacks Research raised its 2026 EPS forecast to $8.50 from $8.47 and increased its estimates for third-quarter 2026 EPS to $2.10 from $2.09 and fourth-quarter EPS to $2.19 from $2.18. These modest upward revisions provide some support for the stock by suggesting near-term results could slightly exceed prior expectations. MarketBeat MAA analyst estimates Neutral Sentiment: Analysts remain moderately positive on MAA’s prospects despite its underperformance versus the broader market. The consensus full-year EPS forecast is approximately $8.51, close to Zacks Research’s $8.50 estimate for 2026, indicating expectations are broadly aligned but not signaling a major earnings catalyst. Mid-America Apartment Communities Stock: Analyst Estimates and Ratings Negative Sentiment: Zacks Research made several downward revisions to longer-term forecasts: 2027 EPS was reduced to $8.59 from $8.68, 2028 EPS to $8.93 from $9.27, and estimates for first-quarter 2028, second-quarter 2028, third-quarter 2027, and fourth-quarter 2027 were also cut. The reductions suggest analysts see somewhat slower earnings growth ahead, which is a negative factor for valuation. Negative Sentiment: Additional cuts lowered second-quarter 2028 EPS to $2.16 from $2.21, first-quarter 2028 EPS to $2.19 from $2.25, and third-quarter 2027 EPS to $2.10 from $2.16. Although some quarterly estimates increased, the larger downward revisions—particularly to full-year 2028 earnings—create pressure on investor sentiment. Wall Street Analysts Forecast Growth Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Scotiabank reduced their price objective on shares of Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating for the company in a research note on Tuesday, August 4th. BNP Paribas Exane upgraded shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays dropped their target price on shares of Mid-America Apartment Communities from $147.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $144.81. Check Out Our Latest Stock Report on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Performance MAA opened at $131.48 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 38.44 and a beta of 0.73. The company has a fifty day moving average of $134.88 and a 200 day moving average of $131.53. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $146.41.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $0.76 by $1.32. Mid-America Apartment Communities had a net margin of 18.17% and a return on equity of 6.99%. The business had revenue of $555.13 million for the quarter, compared to analysts’ expectations of $556.18 million. During the same quarter in the previous year, the company earned $2.15 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.52 earnings per share for the current fiscal year.
About Mid-America Apartment Communities (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Further Reading Five stocks we like better than Mid-America Apartment Communities VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report).
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BlackRock Inc. bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,103,935 shares of the real estate investment trust’s stock, valued at approximately $1,820,661,000. BlackRock Inc. owned approximately 11.29% of Mid-America Apartment Communities as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its position in shares of Mid-America Apartment Communities by 65.2% during the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at $32,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at $33,000. Finally, Root Financial Partners LLC boosted its position in shares of Mid-America Apartment Communities by 3,100.0% in the 1st quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.
Analyst Upgrades and Downgrades Several analysts have issued reports on the company. Citigroup restated a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 10th. Weiss Ratings raised shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Barclays cut their price target on shares of Mid-America Apartment Communities from $147.00 to $146.00 and set an “equal weight” rating on the stock in a report on Monday. Piper Sandler decreased their price objective on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Finally, Jefferies Financial Group upgraded shares of Mid-America Apartment Communities to a “hold” rating in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $144.81.
Check Out Our Latest Report on Mid-America Apartment Communities Mid-America Apartment Communities Trading Up 1.0% NYSE:MAA opened at $131.47 on Thursday. The stock has a market cap of $15.25 billion, a PE ratio of 38.44 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $146.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. The stock’s 50-day moving average is $135.14 and its two-hundred day moving average is $131.55.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $1.32. The business had revenue of $555.13 million during the quarter, compared to analyst estimates of $556.18 million. Mid-America Apartment Communities had a net margin of 18.17% and a return on equity of 6.99%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. As a group, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.
(Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Read More Five stocks we like better than Mid-America Apartment Communities Bloom Energy’s AI Surge Meets a Valuation Reality Check Target Is Winning Shoppers Back—Can the Rally Reach $180? IonQ’s Space Contract Points to a New Frontier for Quantum Investors Is Apple’s AI Strategy Smarter Than Skeptics Think? Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report).
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Fielder Capital Group LLC bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE: MAA) in the undefined quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,661 shares of the real estate investment trust's stock, valued at approximately
Aurora Investment Managers LLC. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 78.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,506 shares of the real estate investment trust’s stock after selling 16,253 shares during the quarter. Aurora Investment Managers LLC.’s holdings in Mid-America Apartment Communities were worth $626,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of MAA. Algebris UK Ltd. lifted its stake in shares of Mid-America Apartment Communities by 27.5% in the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust’s stock worth $18,358,000 after buying an additional 28,528 shares in the last quarter. Norges Bank purchased a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $750,603,000. Swiss Life Asset Management Ltd raised its holdings in Mid-America Apartment Communities by 466.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust’s stock valued at $6,310,000 after acquiring an additional 37,405 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Mid-America Apartment Communities by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust’s stock worth $30,083,000 after buying an additional 8,724 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Mid-America Apartment Communities by 29.5% during the fourth quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust’s stock worth $34,281,000 after buying an additional 56,224 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Mid-America Apartment Communities In related news, Director Tamara D. Fischer purchased 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director directly owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by company insiders.
Analysts Set New Price Targets Several analysts have recently commented on the stock. Mizuho lifted their price target on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. began coverage on Mid-America Apartment Communities in a research note on Thursday, July 16th. They issued a “neutral” rating and a $147.00 price target on the stock. Cantor Fitzgerald increased their price target on Mid-America Apartment Communities from $132.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Piper Sandler cut their price objective on Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $145.38.
Read Our Latest Report on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Up 1.0% MAA opened at $134.90 on Friday. The business has a 50 day moving average price of $135.60 and a two-hundred day moving average price of $131.72. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02. The company has a market cap of $15.65 billion, a PE ratio of 39.44 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $146.41.
Mid-America Apartment Communities Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.53 per share. This represents a $6.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is 178.95%.
Mid-America Apartment Communities Company Profile (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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Edgestream Partners L.P. reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 51.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,121 shares of the real estate investment trust’s stock after selling 16,929 shares during the quarter. Edgestream Partners L.P.’s holdings in Mid-America Apartment Communities were worth $1,969,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its position in shares of Mid-America Apartment Communities by 65.2% during the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $32,000. Measured Wealth Private Client Group LLC acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $33,000. Root Financial Partners LLC increased its position in Mid-America Apartment Communities by 3,100.0% during the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 279 shares during the last quarter. Finally, Hurley Capital LLC raised its stake in Mid-America Apartment Communities by 70.4% during the fourth quarter. Hurley Capital LLC now owns 271 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 112 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Mid-America Apartment Communities In related news, Director Tamara D. Fischer bought 1,100 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the acquisition, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.
Mid-America Apartment Communities Trading Up 0.3% Shares of MAA stock opened at $132.80 on Monday. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $149.18. The firm has a market cap of $15.46 billion, a PE ratio of 38.83 and a beta of 0.73. The company has a 50-day moving average of $135.25 and a two-hundred day moving average of $131.76. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09.
Mid-America Apartment Communities Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a dividend of $1.53 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 178.95%.
Trending Headlines about Mid-America Apartment Communities Here are the key news stories impacting Mid-America Apartment Communities this week:
Positive Sentiment: MAA forecast 2026 core AFFO of $7.38 to $7.62 per share, with the midpoint slightly above the FactSet consensus of $7.42. Improving lease trends and a steady development pipeline suggest operations may be stabilizing. 2026 Core AFFO Guidance Positive Sentiment: Second-quarter revenue increased, while the company’s development pipeline and leasing commentary provide longer-term support for growth. Q2 Core FFO and Revenue Report Neutral Sentiment: Piper Sandler lowered its price target from $143 to $140 and maintained a “neutral” rating. The revised target still implies moderate upside from the reference price, but the cut signals limited near-term conviction. Piper Sandler Price Target Update Negative Sentiment: Second-quarter core FFO was reported at $2.08 per share, below the $2.15 earned a year earlier. Reports also indicated that same-store NOI declined, reflecting pressure on apartment operating performance. Q2 FFO and Same-Store NOI Report Negative Sentiment: The combination of declining FFO, lower same-store NOI guidance and cautious analyst commentary is keeping pressure on MAA, despite management’s expectation that leasing conditions will improve. MAA Second-Quarter 2026 Results Analysts Set New Price Targets Several research firms have weighed in on MAA. Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Wells Fargo & Company lifted their price target on shares of Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald decreased their price objective on Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $145.06.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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As Home Prices Hit Highs, These Apartment REITs Offer GrowthMid-America Apartment Communities NYSE: MAA reported second-quarter Core FFO of $2.08 per diluted share, exceeding its guidance by $0.02, as lower-than-expected property operating expenses and contributions from its non-same-store portfolio offset slightly softer same-store revenue.
Chief Executive Officer Brad Hill said new resident and blended lease-over-lease rates improved sequentially, although the recovery in new lease pricing has been slower than the company expected because of cautious consumer sentiment and elevated, though moderating, apartment supply in several major markets.
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“As demand remains resilient and new deliveries continue to decline, we expect the recovery to expand and accelerate,” Hill said. He cited job growth, household formation, population and wage growth, along with an increase in inbound migration to MAA properties during the second quarter. Inbound migration rose to about 13% in the second quarter from roughly 10% in the first quarter, the largest quarterly increase MAA has recorded since it began tracking the metric, according to Hill.
Leasing trends and market performance Chief Strategy and Analysis Officer Tim Argo said new lease growth improved by 170 basis points sequentially from the first quarter, exceeding the pace of improvement seen from the first to second quarter of 2025 by 20 basis points. Blended lease-over-lease pricing increased 100 basis points from the first quarter and was 20 basis points above the second-quarter 2025 level.
Renewal performance remained a source of support. Turnover declined to 39.6%, while renewal lease rates were 5.2% for the quarter. MAA’s rent-to-income ratio improved to 18%, and net delinquency was 0.3% of billed rents, consistent with recent quarters.
Virginia, South Carolina and the Washington, D.C., area continued to outperform the broader portfolio on pricing, including Norfolk, Richmond, Charleston and Greenville. MAA’s two largest concentration markets, Atlanta and Dallas, also outperformed the portfolio on blended pricing in the second quarter.
Austin remained an underperforming market but showed improvement, with blended pricing 300 basis points better and occupancy 40 basis points higher than in the second quarter of 2025. Orlando’s blended pricing improved 130 basis points year over year. Phoenix, Charlotte, Raleigh and Savannah continued to face pressure from heavy new supply.
For the third quarter, Argo said MAA expects blended pricing to improve from the second quarter, which would be unusual given that third-quarter blended pricing has typically trailed the second quarter during the past four years. The company expects July pricing to be similar to the second quarter, but cited stronger pre-leasing trends for August and September, higher renewal retention and increased lead and visit volume.
MAA expects July occupancy to finish at approximately 95.4%. Management said third-quarter renewal retention is above both the second quarter of 2026 and the third quarter of 2025, with renewal rates continuing in the 5%-plus range.
Development, renovations and lease-ups The company funded approximately $81 million in development and pre-development costs during the quarter. Its development pipeline totaled $598 million at June 30, with $237 million of remaining funding commitments over the next three years. Including two projects expected to begin in the third quarter, MAA expects the pipeline to reach about $804 million.
MAA began construction on a Kansas City project in the second quarter and started a Nashville development in July. It also expects to start a Northern Virginia project next month and one additional project later in the year, putting it on track for four development starts in 2026.
Hill said the company continues to view development as a priority capital-allocation opportunity, citing expected yields of roughly 6% to 6.5% for new projects under conservative underwriting. The current lease-up portfolio is projected to generate average cash yields of about 6%, although Hill said yields are currently closer to 5% because of concessions.
MAA completed 2,118 interior unit upgrades during the second quarter, bringing its first-half total to 3,504 units, up 30% from the first half of 2025. Renovated units generated average rent increases of $110 over non-upgraded units. With average spending of $5,134 per unit, the program produced an estimated 25% cash-on-cash return, above the company’s 19% expectation.
The company also continued to expand its community-wide Wi-Fi initiative. Revenue from the initial 28 live properties rose to $850,000 in the second quarter from $500,000 in the first quarter, and MAA plans to add another 38 properties this year.
Outlook, expenses and capital allocation MAA maintained its full-year Core FFO guidance midpoint of $8.53 per diluted share. However, it reduced its expectations for effective rent growth and average occupancy, saying the recovery in new lease pricing has progressed more slowly than assumed in its prior guidance.
Those revenue revisions were offset by expense controls, lower expected real estate taxes, favorable insurance costs and contribution from non-same-store properties. The company expects more than $25 million of incremental year-over-year NOI in 2026 from its non-same-store portfolio.
Same-store operating expense growth was 80 basis points year over year in the second quarter. Chief Financial Officer Clay Holder said repair and maintenance and personnel costs were key contributors to favorable expense performance. MAA renewed its insurance coverage on July 1, with total premiums declining more than 12%; it expects insurance costs to decline by more than 6% year over year for 2026.
At quarter-end, MAA had more than $880 million of combined cash and borrowing capacity under its revolving credit facility. Net debt to EBITDA was 4.5 times, while outstanding debt had an average maturity of six years and an effective rate of 3.9%.
During the quarter, the company repurchased 383,000 common shares for $50 million, at a weighted average price of $130.66 per share. MAA also entered an unsecured delayed term loan with $350 million of committed principal, including $100 million outstanding at quarter-end.
The company sold a 30-year-old, high-capital-expenditure property in Raleigh during the second quarter and expects to close on two additional dispositions in the second half, including a 42-year-old Dallas property and its sole property in Washington, D.C. Management said those sales are expected to complete its planned 2026 disposition activity.
About Mid-America Apartment Communities (NYSE:MAA)Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Mid-America Apartment Communities, Inc. (MAA) Q2 2026 Earnings Call July 30, 2026 10:00 AM EDT
Company Participants
Andrew Schaeffer - Senior VP, Treasurer & Director of Capital Markets
Brad Hill - CEO, President & Director
Tim Argo - Executive VP and Chief Strategy & Analysis Officer
A. Holder - Executive VP & Chief Financial Officer
Conference Call Participants
James Feldman - Wells Fargo Securities, LLC, Research Division
Eric Wolfe - Citigroup Inc., Research Division
Nicholas Yulico - Scotiabank Global Banking and Markets, Research Division
Jana Galan - BofA Securities, Research Division
Brad Heffern - RBC Capital Markets, Research Division
Austin Wurschmidt - KeyBanc Capital Markets Inc., Research Division
Adam Kramer - Morgan Stanley, Research Division
Haendel St. Juste - Mizuho Securities USA LLC, Research Division
Alexander Goldfarb - Piper Sandler & Co., Research Division
Ami Probandt - UBS Investment Bank, Research Division
Nahom Tesfazghi - JPMorgan Chase & Co, Research Division
Steve Sakwa - Evercore ISI Institutional Equities, Research Division
Michael Gorman - BTIG, LLC, Research Division
Alex Kim - Zelman & Associates LLC
John Pawlowski - Green Street Advisors, LLC, Research Division
John Kim - BMO Capital Markets Equity Research
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the MAA Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded today, July 30, 2026. [Operator Instructions]
I will now turn the call over to Andrew Schaeffer, Senior Vice President, Treasurer and Director of Capital Markets of MAA, for opening comments.
Andrew Schaeffer
Senior VP, Treasurer & Director of Capital Markets
Thank you, Regina, and good morning, everyone. This is Andrew Schaeffer, Treasurer and Director of Capital Markets for MAA. Members of the management team participating on the call this morning are Brad Hill, Tim Argo, Clay Holder and Rob DelPriore.
Before we begin with prepared comments this morning, I want to point out that as part of
Key Takeaways Mid-America Apartment missed Q2 core FFO estimates as same-store NOI declined on weaker revenues.MAA reported improved blended lease-rate growth despite pressure from elevated apartment supply.Mid-America Apartment narrowed its 2026 core FFO guidance while updating same-store revenue and NOI outlooks. Mid-America Apartment Communities, Inc. (MAA - Free Report) reported second-quarter 2026 core funds from operations (FFO) per share of $2.08, missing the Zacks Consensus Estimate of $2.10. The metric declined 3.3% from the year-ago quarter.
Rental and other property revenues increased 1% year over year to $555.13 million but missed the consensus mark of $555.97 million.
Same-store NOI fell 1%, though blended lease-rate growth improved to 0.7% amid steady demand.
MAA's Same-Store Portfolio Remains Under PressureSame-store revenues declined 0.3% year over year, while property operating expenses increased 0.8%. The combination drove a 1% decrease in same-store NOI. Same-store NOI totaled $316.22 million, down from $319.50 million a year earlier.
Average effective rent per unit slipped 0.2% to $1,688. Average physical occupancy was 95.3%, reflecting continued pressure from elevated apartment deliveries across several of MAA’s Sunbelt markets.
Mid-America Apartment Sees Better Leasing TrendsLeasing indicators showed sequential improvement despite the decline in property-level earnings. Effective blended lease-rate growth reached 0.7%, improving 20 basis points year over year and 100 basis points from the first quarter.
Effective new-lease pricing declined 5.3%, but that marked a 170-basis-point sequential improvement. Renewal lease rates increased 5.2%, helping offset weaker pricing on new leases.
Resident turnover remained historically low at 39.6%. Move-outs associated with residents purchasing single-family homes represented only 10.9% during the quarter, supporting occupancy and renewal demand.
Mid-America Apartment Advances Development PipelineMAA ended the quarter with six development projects totaling 1,749 units. Expected development costs were $597.50 million, of which $360.36 million had been funded, leaving $237.14 million of expected spending.
The company completed MAA Plaza Midwood in Charlotte, NC, and began construction of a 263-unit community in Kansas City, MO. It also completed the initial lease-up of MAA Cathedral Arts in Dallas.
Five lease-up projects contained 1,759 units and were 74.4% occupied at quarter-end. Costs incurred on those communities totaled $623.74 million. Management expects four projects to stabilize during the second half of 2026.
Mid-America Apartment Maintains Balance Sheet CapacityMAA ended June with $882.8 million of combined cash and available borrowing capacity. Total debt was $5.69 billion, with an average effective interest rate of 3.9% and an average maturity of six years.
Fixed-rate borrowings represented 86.6% of total debt. Net debt to adjusted EBITDAre was 4.5X compared with 4.3X at the end of 2025.
During the quarter, MAA repurchased 0.4 million shares for $50 million. The company also entered into a delayed-draw term loan with commitments of up to $350 million and had $100 million outstanding at quarter-end.
MAA Updates Its 2026 OutlookMAA narrowed its full-year core FFO guidance range to $8.41-$8.65 per share from $8.37-$8.69. The midpoint remained unchanged at $8.53. The Zacks Consensus Estimate is pinned at $8.51, which lies in the guided range.
The company reduced its same-store revenue growth outlook to a range of negative 0.2% to positive 0.4%, with a midpoint of 0.1%. Its same-store operating expense growth range was lowered to 1.25%-2.25%, while projected NOI growth was revised to negative 1.7% to negative 0.1%.
For the third quarter, MAA expects core FFO per share of $2.04-$2.16. The $2.10 midpoint reflects anticipated contributions from same-store and non-same-store NOI, partly offset by higher interest expense. The consensus estimate stands at $2.10.
MAA’s Zacks RankCurrently, MAA carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Residential REITsEquity Residential (EQR - Free Report) reported second-quarter 2026 normalized FFO per share of $1.02, beating the Zacks Consensus Estimate of $1.01. The figure improved 3% year over year.
Results reflected higher same-store NOI supported by strong physical occupancy and better-than-anticipated renewal rates achieved.
AvalonBay Communities (AVB - Free Report) reported second-quarter 2026 core FFO per share of $2.86, surpassing the Zacks Consensus Estimate of $2.80. Favorable same-store residential revenues and expense results drove the FFO outperformance
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Mid-America Apartment Communities (MAA - Free Report) came out with quarterly funds from operations (FFO) of $2.08 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $2.15 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this real estate investment trust would post FFO of $2.12 per share when it actually produced FFO of $2.13, delivering a surprise of +0.47%.
Over the last four quarters, the company has surpassed consensus FFO estimates two times.
Mid-America Apartment Communities, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $555.13 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.39%. This compares to year-ago revenues of $549.9 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Mid-America Apartment Communities shares have lost about 2.4% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Mid-America Apartment Communities?While Mid-America Apartment Communities has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Mid-America Apartment Communities was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $2.10 on $562.12 million in revenues for the coming quarter and $8.51 on $2.24 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Independence Realty Trust (IRT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 3.
This real estate investment trust is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -3.6%. The consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level.
Independence Realty Trust's revenues are expected to be $169.18 million, up 4.3% from the year-ago quarter.
, /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced operating results for the three and six months ended June 30, 2026.
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
Earnings per common share - diluted
$
1.04
$
0.92
$
2.10
$
2.46
Funds from operations (FFO) per Share - diluted (1)
$
2.10
$
2.19
$
4.32
$
4.39
Core FFO per Share - diluted (1)
$
2.08
$
2.15
$
4.21
$
4.35
(1)
A reconciliation of Net income available for MAA common shareholders to FFO and Core FFO is found later in this release.
Brad Hill, President and Chief Executive Officer, said, "Second quarter Core FFO results exceeded our expectations due to steady demand and continued disciplined expense management. Our focus on new lease pricing resulted in an acceleration in our new lease sequential pricing trends, supported our consistently strong renewal results and delivered blended lease-over-lease pricing that was 20 basis points better year-over-year. As steady demand increasingly outweighs the declining pressure from new deliveries more broadly across our footprint, the improved pricing and operating fundamentals we see in a number of our markets should become more broad-based, supporting an accelerating recovery. Our pricing momentum, operating discipline, and growing contribution from our new developments, position MAA to deliver attractive future earnings growth."
During the second quarter of 2026, MAA's Same Store effective blended lease rate growth was 0.7%, a 20 basis point improvement over the same period in the prior year as well as a 100 basis point improvement on a sequential basis, driven by a 170 basis point improvement in new lease pricing from the first quarter of 2026. As of June 30, 2026, resident turnover in the Same Store Portfolio remained historically low at 39.6% with a low level of move-outs associated with buying single-family homes of 10.9% for the quarter. During the second quarter of 2026, MAA completed the initial lease-up of MAA Cathedral Arts in Dallas, Texas, completed the development of MAA Plaza Midwood located in Charlotte, North Carolina and began construction of a multifamily apartment community in the Kansas City market. During the second quarter of 2026, Mid-America Apartments, L.P. (MAALP), MAA's operating partnership, entered into a unsecured delayed draw term loan (referred to in this release as the DDTL Facility) in the aggregate committed principal amount of up to $350.0 million. The DDTL Facility is scheduled to mature in November 2030. As of June 30, 2026, there was $100.0 million outstanding under the DDTL Facility. During the second quarter of 2026, MAA repurchased 0.4 million shares of its common stock at a weighted average share price of $130.66 for total consideration of $50 million. Same Store Operating Results
Same Store results for the three and six months ended June 30, 2026 as compared to the same periods in the prior year are summarized below:
Three months ended June 30, 2026 vs. 2025
Six months ended June 30, 2026 vs. 2025
Revenues
Expenses
NOI (1)
Average Effective
Rent per Unit
Revenues
Expenses
NOI (1)
Average Effective
Rent per Unit
Same Store Operating Growth
-0.3 %
0.8 %
-1.0 %
-0.2 %
-0.3 %
1.1 %
-1.2 %
-0.2 %
(1)
A reconciliation of Net income available for MAA common shareholders to NOI, including Same Store NOI, is found later in this release.
Same Store operating statistics for the three and six months ended June 30, 2026 are summarized below:
Three months ended June 30, 2026
Six months ended June 30, 2026
As of June 30, 2026
Average Effective
Rent per Unit
Average Physical
Occupancy
Average Effective
Rent per Unit
Average Physical
Occupancy
Resident Turnover
Same Store Operating Statistics
$
1,688
95.3 %
$
1,687
95.4 %
39.6 %
Same Store net effective lease pricing statistics for the three and six months ended June 30, 2026 are summarized below:
Same Store Net Effective Lease Pricing Statistics
Three Months Ended
June 30, 2026
Six Months Ended
June 30, 2026
Effective Blended Lease Rate Growth
0.7 %
0.3 %
Effective New Lease Rate Growth
-5.3 %
-6.0 %
Effective Renewal Lease Rate Growth
5.2 %
5.3 %
Acquisition and Disposition Activity
In April 2026, MAA closed on the acquisition of a land parcel located in the Nashville market through its pre-purchase development program, and MAA began construction of a 312-unit multifamily apartment community at the property in July 2026.
In July 2026, MAA closed on the acquisition of a land parcel located in the Northern Virginia market through its pre-purchase development program and plans future development of a 306-unit multifamily apartment community at the property starting in the third quarter of 2026.
In May 2026, MAA closed on the disposition of a 194-unit multifamily apartment community located in the Raleigh, North Carolina market for net proceeds of approximately $40 million, resulting in a gain on the sale of depreciable real estate assets of approximately $35 million.
Development and Lease-up Activity
A summary of MAA's development communities under construction as of the end of the second quarter of 2026 is set forth below (dollars in thousands):
Units as of
Development Costs as of
Expected Project
Total
June 30, 2026
June 30, 2026
Completions By Year
Development
Expected
Costs
Expected
Projects (1)
Total
Delivered
Leased
Total
to Date
Remaining
2026
2027
2028
6
1,749
193
127
$
597,500
$
360,361
$
237,139
2
2
2
(1)
Two of the development projects were leasing as of June 30, 2026.
During the second quarter of 2026, MAA completed the development of MAA Plaza Midwood located in Charlotte, North Carolina and began construction on a 263-unit multifamily apartment community in the Kansas City market.
MAA funded approximately $81 million of costs for current and planned development projects, including predevelopment activities, during the second quarter of 2026.
A summary of the total units, physical occupancy and cost of MAA's lease-up communities as of the end of the second quarter of 2026 is set forth below (dollars in thousands):
Total
As of June 30, 2026
Lease-Up
Total
Physical
Costs
Projects (1)
Units
Occupancy
to Date
5
1,759
74.4
%
$
623,742
(1)
Two of the lease-up projects are expected to stabilize in the third quarter of 2026, two in the fourth quarter of 2026 and one in the third quarter of 2027.
During the second quarter of 2026, MAA completed the lease-up of MAA Cathedral Arts located in Dallas, Texas.
Balance Sheet and Financing Activities
As of June 30, 2026, MAA had $882.8 million of combined cash and available capacity under MAALP's unsecured revolving credit facility.
In June 2026, MAALP entered into the DDTL Facility in the aggregate committed principal amount of up to $350.0 million. Advances of loans under the DDTL Facility may be requested by MAALP in one or more draws (subject to a maximum of five draws) and will be available until December 21, 2026. The DDTL Facility is scheduled to mature in November 2030. Amounts borrowed under the DDTL Facility will bear interest at a variable rate, at MAALP's election, either (1) based upon the Secured Overnight Financing Rate (SOFR) plus an applicable margin ranging from 0.675% to 1.550% based upon MAALP's credit rating or (2) a base rate plus an applicable margin ranging from 0.00% to 0.55% based upon MAALP's credit rating. The DDTL Facility also contains an uncommitted accordion feature that allows MAALP to increase the total amount of unsecured indebtedness under the DDTL Facility to $550.0 million until December 21, 2026. As of June 30, 2026, there was $100.0 million outstanding under the DDTL Facility. MAALP intends to use the loan proceeds for general corporate purposes, including repayment of other debt.
During the second quarter of 2026, MAA repurchased 0.4 million shares of its common stock at a weighted average share price of $130.66 for total consideration of $50 million.
Dividends and distributions paid on shares of common stock and noncontrolling interests during the second quarter of 2026 were $182.5 million, as compared to $181.8 million for the same period in the prior year.
Balance sheet highlights as of June 30, 2026 are summarized below (dollars in billions):
Total debt to adjusted
total assets (1)
Net Debt/Adjusted
EBITDAre (2)
Total debt
outstanding
Average effective
interest rate
Fixed rate debt as a %
of total debt
Total debt average
years to maturity
31.2 %
4.5x
$
5.7
3.9 %
86.6 %
6.0
(1)
As defined in the covenants for the unsecured senior notes issued by MAALP.
(2)
Adjusted EBITDAre is calculated for the trailing twelve month period ended June 30, 2026. A reconciliation of Unsecured notes payable, net and Secured notes payable, net to Net Debt and a reconciliation of Net income to Adjusted EBITDAre are found later in this release.
130th Consecutive Quarterly Common Dividend Declared
MAA declared its 130th consecutive quarterly common dividend, which will be paid on July 31, 2026 to holders of record on July 15, 2026. The current annual dividend rate is $6.12 per common share. The timing and amount of future dividends will depend on actual cash flows from operations, MAA's financial condition, capital requirements, the annual distribution requirements under the REIT provisions of the Internal Revenue Code of 1986 and other factors as MAA's Board of Directors deems relevant. MAA's Board of Directors may modify the dividend policy from time to time.
2026 Earnings and Same Store Guidance
MAA is updating its prior 2026 guidance for Earnings per diluted common share, Core FFO per diluted Share, Core AFFO per diluted Share and Same Store performance. MAA expects to provide updates to its 2026 Earnings per diluted common share, Core FFO per diluted Share and Core AFFO per diluted Share guidance on a quarterly basis.
FFO, Core FFO and Core AFFO are non-GAAP financial measures. Acquisition and disposition activity materially affects depreciation and capital gains or losses, which combined, generally represent the majority of the difference between Net income available for common shareholders and FFO. As discussed in the definitions of non-GAAP financial measures found later in this release, MAA's definition of FFO is in accordance with the National Association of Real Estate Investment Trusts', or NAREIT's, definition, and Core FFO represents FFO as adjusted for items that are not considered part of MAA's core business operations. MAA believes that Core FFO is helpful in understanding operating performance in that Core FFO excludes not only depreciation expense of real estate assets and certain other non-routine items, but it also excludes certain items that by their nature are not comparable over periods and therefore tend to obscure actual operating performance.
2026 Guidance
Previous Range
Previous Midpoint
Updated Range
Updated Midpoint
Earnings:
Full Year 2026
Full Year 2026
Full Year 2026
Full Year 2026
Earnings per common share - diluted
$4.18 to $4.50
$4.34
$3.96 to $4.20
$4.08
Core FFO per Share - diluted
$8.37 to $8.69
$8.53
$8.41 to $8.65
$8.53
Core AFFO per Share - diluted
$7.34 to $7.66
$7.50
$7.38 to $7.62
$7.50
MAA Same Store Portfolio:
Property revenue growth
-0.20% to 1.30%
0.55 %
-0.20% to 0.40%
0.10 %
Property operating expense growth
1.90% to 3.40%
2.65 %
1.25% to 2.25%
1.75 %
NOI growth
-1.70% to 0.30%
-0.70 %
-1.70% to 0.10%
-0.90 %
MAA expects Core FFO for the third quarter of 2026 to be in the range of $2.04 to $2.16 per diluted Share, or $2.10 per diluted Share at the midpoint. The projected difference from Core FFO per diluted Share for the second quarter of 2026 to the midpoint of MAA's guidance for the third quarter of 2026 is summarized below:
Core FFO per diluted Share
Q2 2026 per diluted Share reported results
$
2.08
Same Store NOI
0.01
Non Same Store NOI
0.02
Interest expense
(0.01)
Q3 2026 per diluted Share guidance midpoint
$
2.10
MAA does not forecast Earnings per diluted common share on a quarterly basis as MAA generally cannot predict the timing of forecasted acquisition and disposition activity within a particular quarter (rather than during the course of the full year). Additional details and guidance items are provided in the Supplemental Data to this release.
Supplemental Material and Conference Call
Supplemental Data to this release can be found on the "For Investors" page of the MAA website at www.maac.com. MAA will host a conference call to further discuss second quarter results on July 30, 2026, at 9:00 AM Central Time. The conference call-in number is (888) 596-4144. You may also join the live webcast of the conference call by accessing the "For Investors" page of the MAA website at www.maac.com. MAA's filings with the Securities and Exchange Commission (SEC) are filed under the registrant names of Mid-America Apartment Communities, Inc. and Mid-America Apartments, L.P.
About MAA
MAA, an S&P 500 company, is a 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 primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. As of June 30, 2026, MAA had ownership interest in 104,698 apartment units, including communities in development, across 16 states and the District of Columbia. For further details, please visit the MAA website at www.maac.com or contact Investor Relations at [email protected], or via mail at MAA, 6815 Poplar Ave., Suite 500, Germantown, TN 38138, Attn: Investor Relations.
Forward-Looking Statements
This release (as well as the Supplemental Data to this release) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not discuss historical fact, but instead are statements related to expectations, projections, intentions, assumptions and beliefs regarding the future. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "forecasts," "projects," "assumes," "will," "may," "could," "should," "budget," "target," "outlook," "proforma," "opportunity," "guidance" and variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding quarterly and full year 2026 guidance (including earnings guidance, Same Store Portfolio guidance and other related projections and assumptions), development costs for our development communities, timelines for occupancy, completion and stabilization of our development communities, and timelines for stabilization of our lease-up communities. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, as described below, which may cause our actual results, performance, achievements or outcomes to be materially different from the future results, performance, achievements or outcomes expressed or implied by such forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such statements should not be regarded as a representation by us or any other person that the results, performance, achievements or outcomes described in such statements will be achieved.
The following factors, among others, could cause our actual results, performance, achievements or outcomes to differ materially from those expressed or implied in the forward-looking statements: adverse effects on occupancy levels and rental revenues due to unfavorable market and economic conditions; adverse changes in real estate markets, including changes in supply and/or demand for multifamily housing or increased competition from alternative housing options; failure of development communities to be completed within budget and on a timely basis, if at all, to lease-up as anticipated or to achieve anticipated results; unexpected capital needs; material changes in operating costs, including real estate taxes, utilities and insurance costs, due to inflation and other factors; losses due to uninsured risks, deductibles and self-insured retentions, or losses from catastrophes in excess of coverage limits; ability to obtain financing at favorable rates, if at all, or refinance existing debt as it matures; level and volatility of interest or capitalization rates or capital market conditions; changes in the legal requirements we are subject to, or the imposition of new legal requirements, that adversely affect our operations; extreme weather and natural disasters; disease outbreaks and other public health events and measures that are taken by federal, state, and local governmental authorities in response to such outbreaks and events; legal proceedings or class action lawsuits; and other risks identified in our annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 6, 2026, our quarterly reports on Form 10-Q, other reports we file with the SEC and in other documents that we publicly disseminate.
Except as required by law, we undertake no obligation to publicly update or revise forward-looking statements contained in this release to reflect events, circumstances or changes in expectations after the date of this release.
FINANCIAL HIGHLIGHTS
Dollars in thousands, except per share data
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
Rental and other property revenues
$
555,127
$
549,902
$
1,108,852
$
1,099,197
Net income available for MAA common shareholders
$
120,828
$
107,205
$
244,265
$
287,956
Total NOI (1)
$
336,407
$
335,248
$
684,560
$
683,190
Earnings per common share: (2)
Basic
$
1.04
$
0.92
$
2.10
$
2.46
Diluted
$
1.04
$
0.92
$
2.10
$
2.46
Funds from operations per Share - diluted: (2)
FFO (1)
$
2.10
$
2.19
$
4.32
$
4.39
Core FFO (1)
$
2.08
$
2.15
$
4.21
$
4.35
Core AFFO (1)
$
1.77
$
1.85
$
3.74
$
3.89
Dividends declared per common share
$
1.530
$
1.515
$
3.060
$
3.030
Dividends/Core FFO (diluted) payout ratio
73.6
%
70.5
%
72.7
%
69.7
%
Dividends/Core AFFO (diluted) payout ratio
86.4
%
81.9
%
81.8
%
77.9
%
Consolidated interest expense
$
53,132
$
45,111
$
104,541
$
90,272
Debt discount and debt issuance cost amortization
(1,776)
(1,624)
(3,535)
(3,241)
Capitalized interest
4,408
5,048
8,280
10,153
Total interest incurred
$
55,764
$
48,535
$
109,286
$
97,184
(1)
The following reconciliations are found later in this release: (i) Net income available for MAA common shareholders to NOI; and (ii) Net income available for MAA common shareholders to FFO, Core FFO and Core AFFO.
(2)
See the "Share and Unit Data" section for additional information.
Dollars in thousands, except share price
June 30, 2026
December 31, 2025
Gross Assets (1)
$
18,238,708
$
17,921,913
Gross Real Estate Assets (1)
$
17,968,887
$
17,662,513
Total debt
$
5,691,901
$
5,405,372
Common shares and units outstanding
118,944,528
119,819,916
Share price
$
138.94
$
138.91
Book equity value
$
5,601,501
$
5,839,645
Market equity value
$
16,526,153
$
16,644,185
Net Debt/Adjusted EBITDAre (2)
4.5x
4.3x
(1)
Reconciliations of Total assets to Gross Assets and Real estate assets, net, to Gross Real Estate Assets are found later in this release.
(2)
Adjusted EBITDAre is calculated for the trailing twelve month period for each date presented. The following reconciliations are found later in this release: (i) Unsecured notes payable, net and Secured notes payable, net to Net Debt; and (ii) Net income to EBITDA, EBITDAre and Adjusted EBITDAre.
CONSOLIDATED STATEMENTS OF OPERATIONS
Dollars in thousands, except per share data (Unaudited)
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
Revenues:
Rental and other property revenues
$
555,127
$
549,902
$
1,108,852
$
1,099,197
Expenses:
Operating expenses, excluding real estate taxes and insurance
136,525
132,465
264,138
257,420
Real estate taxes and insurance
82,195
82,189
160,154
158,587
Depreciation and amortization
162,548
153,521
324,418
305,871
Total property operating expenses
381,268
368,175
748,710
721,878
Property management expenses
17,955
17,511
40,416
38,089
General and administrative expenses
15,146
12,813
31,862
28,432
Interest expense
53,132
45,111
104,541
90,272
(Gain) loss on sale of depreciable real estate assets
(35,255)
69
(55,419)
(71,842)
Other non-operating income
(2,102)
(4,722)
(18,107)
(5,556)
Income before income tax expense
124,983
110,945
256,849
297,924
Income tax expense
(454)
(600)
(5,975)
(1,638)
Income from continuing operations before real estate joint venture activity
124,529
110,345
250,874
296,286
Income from real estate joint venture
289
530
555
995
Net income
124,818
110,875
251,429
297,281
Net income attributable to noncontrolling interests
3,068
2,748
5,320
7,481
Net income available for shareholders
121,750
108,127
246,109
289,800
Dividends to MAA Series I preferred shareholders
922
922
1,844
1,844
Net income available for MAA common shareholders
$
120,828
$
107,205
$
244,265
$
287,956
Earnings per common share - basic:
Net income available for common shareholders
$
1.04
$
0.92
$
2.10
$
2.46
Earnings per common share - diluted:
Net income available for common shareholders
$
1.04
$
0.92
$
2.10
$
2.46
SHARE AND UNIT DATA
Shares and units in thousands
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
Net Income Shares (1)
Weighted average common shares - basic
116,079
116,976
116,349
116,908
Effect of dilutive securities
65
187
96
241
Weighted average common shares - diluted
116,144
117,163
116,445
117,149
Funds From Operations Shares And Units
Weighted average common shares and units - basic
119,009
119,950
119,284
119,932
Weighted average common shares and units - diluted
119,094
120,015
119,360
119,995
Period End Shares And Units
Common shares at June 30,
116,015
117,071
116,015
117,071
Operating Partnership units at June 30,
2,930
2,950
2,930
2,950
Total common shares and units at June 30,
118,945
120,021
118,945
120,021
(1)
For additional information on the calculation of diluted common shares and earnings per common share, please refer to the Notes to the Condensed Consolidated Financial Statements in MAA's Quarterly Report on Form 10-Q for the three months ended June 30, 2026, expected to be filed with the SEC on or about July 30, 2026.
CONSOLIDATED BALANCE SHEETS
Dollars in thousands (Unaudited)
June 30, 2026
December 31, 2025
Assets
Real estate assets:
Land
$
2,176,947
$
2,129,401
Buildings and improvements and other
15,218,047
14,852,509
Development and capital improvements in progress
406,830
426,759
17,801,824
17,408,669
Less: Accumulated depreciation
(6,244,124)
(5,914,017)
11,557,700
11,494,652
Undeveloped land
73,359
73,359
Investment in real estate joint venture
41,868
41,313
Real estate assets, net
11,672,927
11,609,324
Cash and cash equivalents
51,836
60,258
Restricted cash
13,168
13,717
Other assets
256,653
245,683
Assets held for sale
—
46,401
Total assets
$
11,994,584
$
11,975,383
Liabilities and equity
Liabilities:
Unsecured notes payable, net
$
5,331,445
$
5,044,979
Secured notes payable, net
360,456
360,393
Accrued expenses and other liabilities
701,182
730,366
Total liabilities
6,393,083
6,135,738
Redeemable common stock
18,907
20,402
Shareholders' equity:
Preferred stock
9
9
Common stock
1,157
1,166
Additional paid-in capital
7,283,817
7,401,962
Accumulated distributions in excess of net income
(1,846,433)
(1,734,986)
Accumulated other comprehensive loss
(4,555)
(5,300)
Total MAA shareholders' equity
5,433,995
5,662,851
Noncontrolling interests - Operating Partnership units
136,117
141,503
Total shareholders' equity
5,570,112
5,804,354
Noncontrolling interests - consolidated real estate entities
12,482
14,889
Total equity
5,582,594
5,819,243
Total liabilities and equity
$
11,994,584
$
11,975,383
RECONCILIATION OF NET INCOME AVAILABLE FOR MAA COMMON SHAREHOLDERS TO FFO, CORE FFO, CORE AFFO AND FAD
Amounts in thousands, except per share and unit data
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
Net income available for MAA common shareholders
$
120,828
$
107,205
$
244,265
$
287,956
Depreciation and amortization of real estate assets
161,037
152,149
321,530
303,140
(Gain) loss on sale of depreciable real estate assets
(35,255)
69
(55,419)
(71,842)
MAA's share of depreciation and amortization of real estate assets of real estate joint venture
168
167
338
331
Net income attributable to noncontrolling interests
3,068
2,748
5,320
7,481
FFO attributable to common shareholders and unitholders
249,846
262,338
516,034
527,066
(Gain) loss on embedded derivative in preferred shares (1)
(1,091)
(1,693)
483
(1,283)
Loss (gain) on investments, net of tax (1)(2)
1,068
317
(16,169)
(337)
Casualty related (recoveries) and charges, net (1)
(2,299)
(3,346)
2,220
(3,568)
Core FFO attributable to common shareholders and unitholders
247,524
257,616
502,568
521,878
Recurring capital expenditures
(37,242)
(35,343)
(55,990)
(55,449)
Core AFFO attributable to common shareholders and unitholders
210,282
222,273
446,578
466,429
Redevelopment capital expenditures
(31,749)
(15,435)
(42,516)
(32,844)
Revenue enhancing capital expenditures
(23,519)
(20,104)
(38,081)
(35,292)
Commercial capital expenditures
(2,161)
(2,755)
(3,379)
(6,729)
Other capital expenditures
(10,608)
(12,048)
(22,703)
(27,489)
FAD attributable to common shareholders and unitholders
$
142,245
$
171,931
$
339,899
$
364,075
Dividends and distributions paid
$
182,546
$
181,814
$
365,906
$
363,581
Weighted average common shares - diluted
116,144
117,163
116,445
117,149
FFO weighted average common shares and units - diluted
119,094
120,015
119,360
119,995
Earnings per common share - diluted:
Net income available for common shareholders
$
1.04
$
0.92
$
2.10
$
2.46
FFO per Share - diluted
$
2.10
$
2.19
$
4.32
$
4.39
Core FFO per Share - diluted
$
2.08
$
2.15
$
4.21
$
4.35
Core AFFO per Share - diluted
$
1.77
$
1.85
$
3.74
$
3.89
(1)
Included in Other non-operating income in the Consolidated Statements of Operations.
(2)
For the three months ended June 30, 2026 and 2025, loss on investments is presented net of tax benefit of $0.3 million and $0.1 million, respectively. For the six months ended June 30, 2026 and 2025, gain on investments is presented net of tax expense of $4.3 million and $0.1 million, respectively.
RECONCILIATION OF NET INCOME AVAILABLE FOR MAA COMMON SHAREHOLDERS TO NET OPERATING INCOME
Dollars in thousands
Three Months Ended
Six Months Ended
June 30,
2026
March 31,
2026
June 30,
2025
June 30,
2026
June 30,
2025
Net income available for MAA common shareholders
$
120,828
$
123,437
$
107,205
$
244,265
$
287,956
Depreciation and amortization
162,548
161,870
153,521
324,418
305,871
Property management expenses
17,955
22,461
17,511
40,416
38,089
General and administrative expenses
15,146
16,716
12,813
31,862
28,432
Interest expense
53,132
51,409
45,111
104,541
90,272
(Gain) loss on sale of depreciable real estate assets
(35,255)
(20,164)
69
(55,419)
(71,842)
Other non-operating (income) expense
(2,102)
(16,005)
(4,722)
(18,107)
(5,556)
Income tax expense
454
5,521
600
5,975
1,638
Income from real estate joint venture
(289)
(266)
(530)
(555)
(995)
Net income attributable to noncontrolling interests
3,068
2,252
2,748
5,320
7,481
Dividends to MAA Series I preferred shareholders
922
922
922
1,844
1,844
Total NOI
$
336,407
$
348,153
$
335,248
$
684,560
$
683,190
Same Store NOI
$
316,219
$
328,696
$
319,502
$
644,915
$
652,418
Non-Same Store and Other NOI
20,188
19,457
15,746
39,645
30,772
Total NOI
$
336,407
$
348,153
$
335,248
$
684,560
$
683,190
RECONCILIATION OF NET INCOME TO EBITDA, EBITDAre AND ADJUSTED EBITDAre
Dollars in thousands
Three Months Ended
Twelve Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
December 31, 2025
Net income
$
124,818
$
110,875
$
410,714
$
456,566
Depreciation and amortization
162,548
153,521
640,842
622,295
Interest expense
53,132
45,111
199,526
185,257
Income tax expense
454
600
8,932
4,595
EBITDA
340,952
310,107
1,260,014
1,268,713
(Gain) loss on sale of depreciable real estate assets
(35,255)
69
(55,643)
(72,066)
Adjustments to reflect MAA's share of EBITDAre of unconsolidated affiliates
422
351
1,571
1,424
EBITDAre
306,119
310,527
1,205,942
1,198,071
(Gain) loss on embedded derivative in preferred shares (1)
(1,091)
(1,693)
655
(1,111)
Loss (gain) on investments (1)
1,414
397
(27,524)
(7,457)
Casualty related (recoveries) and charges, net (1)
(2,299)
(3,346)
1,190
(4,598)
Legal costs, settlements and (recoveries), net (1)(2)
—
—
61,908
61,908
Adjusted EBITDAre
$
304,143
$
305,885
$
1,242,171
$
1,246,813
(1)
Included in Other non-operating income in the Consolidated Statements of Operations
(2)
During both the twelve months ended June 30, 2026 and December 31, 2025, in accordance with its accounting policies, MAA recognized $61.9 million of accrued legal settlements and legal defense costs.
RECONCILIATION OF UNSECURED NOTES PAYABLE, NET AND SECURED NOTES PAYABLE, NET TO NET DEBT
Dollars in thousands
June 30, 2026
December 31, 2025
Unsecured notes payable, net
$
5,331,445
$
5,044,979
Secured notes payable, net
360,456
360,393
Total debt
5,691,901
5,405,372
Cash and cash equivalents
(51,836)
(60,258)
Net Debt
$
5,640,065
$
5,345,114
RECONCILIATION OF TOTAL ASSETS TO GROSS ASSETS
Dollars in thousands
June 30, 2026
December 31, 2025
Total assets
$
11,994,584
$
11,975,383
Accumulated depreciation
6,244,124
5,914,017
Accumulated depreciation for Assets held for sale (1)
—
32,513
Gross Assets
$
18,238,708
$
17,921,913
(1)
Included in Assets held for sale in the Consolidated Balance Sheets.
RECONCILIATION OF REAL ESTATE ASSETS, NET TO GROSS REAL ESTATE ASSETS
Dollars in thousands
June 30, 2026
December 31, 2025
Real estate assets, net
$
11,672,927
$
11,609,324
Accumulated depreciation
6,244,124
5,914,017
Assets held for sale, net
—
46,401
Accumulated depreciation for Assets held for sale (1)
—
32,513
Cash and cash equivalents
51,836
60,258
Gross Real Estate Assets
$
17,968,887
$
17,662,513
(1)
Included in Assets held for sale in the Consolidated Balance Sheets.
NON-GAAP FINANCIAL MEASURES
Adjusted EBITDAre
For purposes of calculations in this release, Adjusted Earnings Before Interest, Income Taxes, Depreciation and Amortization for real estate, or Adjusted EBITDAre, represents EBITDAre further adjusted for items that are not considered part of MAA's core operations such as adjustments related to the fair value of the embedded derivative in the MAA Series I preferred shares, gain or loss on sale of non-depreciable assets, gain or loss on investments, casualty related charges and (recoveries), net, gain or loss on debt extinguishment and legal costs, settlements and (recoveries), net. As an owner and operator of real estate, MAA considers Adjusted EBITDAre to be an important measure of performance from core operations because Adjusted EBITDAre excludes various income and expense items that are not indicative of operating performance. MAA's computation of Adjusted EBITDAre may differ from the methodology utilized by other companies to calculate Adjusted EBITDAre. Adjusted EBITDAre should not be considered as an alternative to Net income as an indicator of operating performance.
Core Adjusted Funds from Operations (Core AFFO)
Core AFFO is composed of Core FFO less recurring capital expenditures. Because net income attributable to noncontrolling interests is added back, Core AFFO, when used in this release, represents Core AFFO attributable to common shareholders and unitholders. Core AFFO should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. As an owner and operator of real estate, MAA considers Core AFFO to be an important measure of performance from operations because Core AFFO measures the ability to control revenues, expenses and recurring capital expenditures.
Core Funds from Operations (Core FFO)
Core FFO represents FFO as adjusted for items that are not considered part of MAA's core business operations such as adjustments related to the fair value of the embedded derivative in the MAA Series I preferred shares; gain or loss on sale of non-depreciable assets; gain or loss on investments, net of tax; casualty related charges and (recoveries), net; gain or loss on debt extinguishment; legal costs, settlements and (recoveries), net, and mark-to-market debt adjustments. Because net income attributable to noncontrolling interests is added back, Core FFO, when used in this release, represents Core FFO attributable to common shareholders and unitholders. While MAA's definition of Core FFO may be similar to others in the industry, MAA's methodology for calculating Core FFO may differ from that utilized by other REITs and, accordingly, may not be comparable to such other REITs. Core FFO should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. MAA believes that Core FFO is helpful in understanding its core operating performance between periods in that it removes certain items that by their nature are not comparable over periods and therefore tend to obscure actual operating performance.
EBITDA
For purposes of calculations in this release, Earnings Before Interest, Income Taxes, Depreciation and Amortization, or EBITDA, is composed of net income plus depreciation and amortization, interest expense, and income taxes. As an owner and operator of real estate, MAA considers EBITDA to be an important measure of performance from core operations because EBITDA excludes various expense items that are not indicative of operating performance. EBITDA should not be considered as an alternative to Net income as an indicator of operating performance.
EBITDAre
For purposes of calculations in this release, Earnings Before Interest, Income Taxes, Depreciation and Amortization for real estate, or EBITDAre, is composed of EBITDA further adjusted for the gain or loss on sale of depreciable assets, gain on consolidation of third-party development and adjustments to reflect MAA's share of EBITDAre of an unconsolidated affiliate. As an owner and operator of real estate, MAA considers EBITDAre to be an important measure of performance from core operations because EBITDAre excludes various expense items that are not indicative of operating performance. While MAA's definition of EBITDAre is in accordance with NAREIT's definition, it may differ from the methodology utilized by other companies to calculate EBITDAre. EBITDAre should not be considered as an alternative to Net income as an indicator of operating performance.
Funds Available for Distribution (FAD)
FAD is composed of Core FFO less total capital expenditures, excluding development spending, property acquisitions, capital expenditures relating to significant casualty losses that management expects to be reimbursed by insurance proceeds and corporate related capital expenditures. Because net income attributable to noncontrolling interests is added back, FAD, when used in this release, represents FAD attributable to common shareholders and unitholders. FAD should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. As an owner and operator of real estate, MAA considers FAD to be an important measure of performance from core operations because FAD measures the ability to control revenues, expenses and capital expenditures.
Funds From Operations (FFO)
FFO represents net income available for MAA common shareholders (calculated in accordance with GAAP) excluding gain or loss on disposition of operating properties, asset impairment and gain on consolidation of third-party development, plus depreciation and amortization of real estate assets, net income attributable to noncontrolling interests and adjustments for joint ventures. Because net income attributable to noncontrolling interests is added back, FFO, when used in this release, represents FFO attributable to common shareholders and unitholders. While MAA's definition of FFO is in accordance with NAREIT's definition, it may differ from the methodology for calculating FFO utilized by other companies and, accordingly, may not be comparable to such other companies. FFO should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. MAA believes that FFO is helpful in understanding operating performance in that FFO excludes depreciation and amortization of real estate assets. MAA believes that GAAP historical cost depreciation of real estate assets is generally not correlated with changes in the value of those assets, whose value does not diminish predictably over time, as historical cost depreciation implies.
Gross Assets
Gross Assets represents Total assets plus Accumulated depreciation and Accumulated depreciation for Assets held for sale. MAA believes that Gross Assets can be used as a helpful tool in evaluating its balance sheet positions. MAA believes that GAAP historical cost depreciation of real estate assets is generally not correlated with changes in the value of those assets, whose value does not diminish predictably over time, as historical cost depreciation implies.
Gross Real Estate Assets
Gross Real Estate Assets represents Real estate assets, net plus Accumulated depreciation, Assets held for sale, net, Accumulated depreciation for Assets held for sale, Cash and cash equivalents and 1031(b) exchange proceeds included in Restricted cash. MAA believes that Gross Real Estate Assets can be used as a helpful tool in evaluating its balance sheet positions. MAA believes that GAAP historical cost depreciation of real estate assets is generally not correlated with changes in the value of those assets, whose value does not diminish predictably over time, as historical cost depreciation implies.
Net Debt
Net Debt represents Unsecured notes payable,net and Secured notes payable,net less Cash and cash equivalents and 1031(b) exchange proceeds included in Restricted cash. MAA believes Net Debt is a helpful tool in evaluating its debt position.
NON-GAAP FINANCIAL MEASURES (Continued)
Net Operating Income (NOI)
Net Operating Income represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties held during the period, regardless of their status as held for sale. NOI should not be considered as an alternative to Net income available for MAA common shareholders. MAA believes NOI is a helpful tool in evaluating operating performance because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance.
Non-Same Store and Other NOI
Non-Same Store and Other NOI represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties classified within the Non-Same Store and Other Portfolio during the period. Non-Same Store and Other NOI includes storm-related expenses related to severe weather events, including hurricanes and winter storms. Non-Same Store and Other NOI should not be considered as an alternative to Net income available for MAA common shareholders. MAA believes Non-Same Store and Other NOI is a helpful tool in evaluating operating performance because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance.
Same Store NOI
Same Store NOI represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties classified within the Same Store Portfolio during the period. Same Store NOI excludes storm-related expenses related to severe weather events, including hurricanes and winter storms. Same Store NOI should not be considered as an alternative to Net income available for MAA common shareholders. MAA believes Same Store NOI is a helpful tool in evaluating operating performance because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance.
OTHER KEY DEFINITIONS
Average Effective Rent per Unit
Average Effective Rent per Unit represents the average of gross rent amounts after the effect of leasing concessions for occupied units plus prevalent market rates asked for unoccupied units, divided by the total number of units. Leasing concessions represent discounts to the current market rate. MAA believes average effective rent is a helpful measurement in evaluating average pricing. It does not represent actual rental revenue collected per unit.
Average Physical Occupancy
Average Physical Occupancy represents the average of the daily physical occupancy for an applicable period.
Development Communities
Communities remain identified as development until certificates of occupancy are obtained for all units under development. Once all units are delivered and available for occupancy, the community moves into the Lease-up Communities portfolio.
Effective Blended Lease Rate Growth
Effective Blended Lease Rate Growth represents the combined weighted average of Effective New Lease Rate Growth and Effective Renewal Lease Rate Growth from our Same Store Portfolio for the applicable period.
Effective New Lease Rate Growth
Effective New Lease Rate Growth represents the growth in gross rent amounts after the effect of leasing concessions for new leases from our Same Store Portfolio that were effective during the applicable period as compared to the prior lease.
Effective Renewal Lease Rate Growth
Effective Renewal Lease Rate Growth represents the growth in gross rent amounts after the effect of leasing concessions for renewal leases from our Same Store Portfolio that were effective during the applicable period as compared to the prior lease.
Lease-up Communities
New acquisitions acquired during lease-up and newly developed communities remain in the Lease-up Communities portfolio until stabilized. Communities are considered stabilized when achieving 90% average physical occupancy for 90 days.
Non-Same Store and Other Portfolio
Non-Same Store and Other Portfolio includes recently acquired communities, communities in development or lease-up, communities that have been disposed of or identified for disposition, communities that have experienced a significant casualty loss, stabilized communities that do not meet the requirements defined by the Same Store Portfolio, retail properties and commercial properties.
Resident Turnover
Resident turnover represents resident move outs excluding transfers within the Same Store Portfolio as a percentage of expiring leases on a trailing twelve month basis as of the end of the reported quarter.
Same Store Portfolio (or Same Store)
MAA reviews its Same Store Portfolio at the beginning of each calendar year, or as significant transactions or events warrant. Communities are generally added into the Same Store Portfolio if they were owned and stabilized at the beginning of the previous year. Communities are considered stabilized when achieving 90% average physical occupancy for 90 days. Communities that have been approved by MAA's Board of Directors for disposition are excluded from the Same Store Portfolio. Communities that have experienced a significant casualty loss are also excluded from the Same Store Portfolio.
Bank of Nova Scotia grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 106.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,185 shares of the real estate investment trust’s stock after acquiring an additional 20,189 shares during the period. Bank of Nova Scotia’s holdings in Mid-America Apartment Communities were worth $4,785,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in MAA. Algebris UK Ltd. boosted its position in shares of Mid-America Apartment Communities by 27.5% during the 4th quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust’s stock valued at $18,358,000 after acquiring an additional 28,528 shares during the last quarter. Norges Bank bought a new stake in Mid-America Apartment Communities in the fourth quarter worth $750,603,000. BNP Paribas Financial Markets increased its position in Mid-America Apartment Communities by 29.5% in the fourth quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust’s stock worth $34,281,000 after purchasing an additional 56,224 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Mid-America Apartment Communities by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust’s stock valued at $30,083,000 after purchasing an additional 8,724 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in Mid-America Apartment Communities by 466.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust’s stock valued at $6,310,000 after purchasing an additional 37,405 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.
Insider Transactions at Mid-America Apartment Communities In other news, Director Tamara D. Fischer purchased 1,100 shares of the stock in a transaction dated Thursday, May 21st. The shares were purchased at an average cost of $128.55 per share, with a total value of $141,405.00. Following the completion of the purchase, the director directly owned 1,100 shares of the company’s stock, valued at approximately $141,405. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.
Mid-America Apartment Communities Price Performance Shares of NYSE MAA opened at $133.41 on Tuesday. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $152.35. The business’s 50 day moving average price is $134.87 and its 200 day moving average price is $131.79. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.99. The firm has a market cap of $15.53 billion, a P/E ratio of 40.43 and a beta of 0.74.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 EPS for the quarter, beating the consensus estimate of $0.83 by $1.30. The company had revenue of $553.73 million for the quarter, compared to analyst estimates of $555.75 million. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.20 earnings per share. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. On average, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $1.53 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 185.45%.
Analysts Set New Price Targets A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Morgan Stanley lifted their target price on Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Jefferies Financial Group raised Mid-America Apartment Communities to a “hold” rating in a research report on Wednesday, July 22nd. Piper Sandler boosted their target price on Mid-America Apartment Communities from $140.00 to $143.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald decreased their price target on Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $145.25.
View Our Latest Analysis on Mid-America Apartment Communities
About Mid-America Apartment Communities (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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Entropy Technologies LP acquired a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,063 shares of the real estate investment trust’s stock, valued at approximately $1,351,000.
A number of other hedge funds have also modified their holdings of the company. Physician Wealth Advisors Inc. raised its holdings in shares of Mid-America Apartment Communities by 65.2% during the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Values First Advisors Inc. raised its stake in shares of Mid-America Apartment Communities by 0.5% during the 1st quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust’s stock worth $1,889,000 after buying an additional 82 shares during the period. Blue Trust Inc. lifted its position in shares of Mid-America Apartment Communities by 9.6% during the 4th quarter. Blue Trust Inc. now owns 1,041 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 91 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Mid-America Apartment Communities by 1.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the real estate investment trust’s stock valued at $750,000 after buying an additional 100 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Mid-America Apartment Communities by 1.5% in the 4th quarter. Larson Financial Group LLC now owns 7,008 shares of the real estate investment trust’s stock valued at $974,000 after acquiring an additional 102 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets In related news, Director Tamara D. Fischer acquired 1,100 shares of the stock in a transaction on Thursday, May 21st. The shares were bought at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the purchase, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.
Mid-America Apartment Communities Stock Down 0.4% MAA stock opened at $133.41 on Tuesday. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 40.43 and a beta of 0.74. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.99. Mid-America Apartment Communities, Inc. has a 12 month low of $120.30 and a 12 month high of $152.35. The firm has a 50-day moving average of $134.87 and a two-hundred day moving average of $131.79.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $1.30. The business had revenue of $553.73 million for the quarter, compared to analyst estimates of $555.75 million. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.
Mid-America Apartment Communities Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $1.53 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 185.45%.
Analysts Set New Price Targets Several brokerages recently commented on MAA. Wall Street Zen lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Barclays increased their price objective on shares of Mid-America Apartment Communities from $139.00 to $147.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. UBS Group cut their target price on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mid-America Apartment Communities in a research note on Thursday, July 16th. They issued a “neutral” rating and a $147.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $145.25.
Read Our Latest Stock Analysis on Mid-America Apartment Communities
About Mid-America Apartment Communities (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Read More Five stocks we like better than Mid-America Apartment Communities AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
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Mid-America Apartment Communities (NYSE:MAA – Get Free Report) is expected to be posting its Q2 2026 results after the market closes on Wednesday, July 29th. Analysts expect Mid-America Apartment Communities to announce earnings of $0.7590 per share and revenue of $556.3020 million for the quarter. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. Investors can find conference call details on the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Thursday, July 30, 2026 at 10:00 AM ET.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $1.30. The business had revenue of $553.73 million during the quarter, compared to analyst estimates of $555.75 million. Mid-America Apartment Communities had a return on equity of 6.61% and a net margin of 17.60%.Mid-America Apartment Communities’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 EPS. On average, analysts expect Mid-America Apartment Communities to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Mid-America Apartment Communities Stock Performance Shares of MAA stock opened at $133.82 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.13 and a current ratio of 0.13. Mid-America Apartment Communities has a 52 week low of $120.30 and a 52 week high of $152.35. The company’s 50 day moving average price is $134.76 and its two-hundred day moving average price is $131.82. The company has a market capitalization of $15.58 billion, a P/E ratio of 40.55 and a beta of 0.74.
Mid-America Apartment Communities Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $1.53 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio is currently 185.45%.
Insiders Place Their Bets In other Mid-America Apartment Communities news, Director Tamara D. Fischer purchased 1,100 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the purchase, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.
Hedge Funds Weigh In On Mid-America Apartment Communities Large investors have recently modified their holdings of the business. Viking Global Investors LP bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Mid-America Apartment Communities by 621.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock valued at $168,805,000 after buying an additional 1,040,525 shares in the last quarter. Millennium Management LLC grew its stake in shares of Mid-America Apartment Communities by 3,129.2% in the fourth quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock valued at $102,525,000 after buying an additional 715,209 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Mid-America Apartment Communities by 30.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,030,848 shares of the real estate investment trust’s stock worth $282,105,000 after buying an additional 474,989 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Mid-America Apartment Communities during the second quarter worth $54,314,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of equities research analysts recently commented on the stock. Scotiabank raised their price objective on shares of Mid-America Apartment Communities from $129.00 to $137.00 and gave the stock a “sector underperform” rating in a report on Thursday, July 9th. Mizuho upped their target price on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Jefferies Financial Group upgraded Mid-America Apartment Communities to a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler boosted their price target on Mid-America Apartment Communities from $140.00 to $143.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Barclays upped their price objective on Mid-America Apartment Communities from $139.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average price target of $145.25.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities Company Profile (Get Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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Apartment real estate investment trusts (REITs) are set up for a better second half of 2026, and the July income calendar makes this a natural moment to look at the group. New multifamily supply is rolling off. Housing starts peaked at 1.522 million units in March and fell to 1.177 million by May, a sharp deceleration that historically translates into stronger pricing power for existing landlords 12 to 18 months out. Demographics reinforce the setup: Millennials aging into peak household formation and Gen Z entering the rental market are colliding with a construction sector whose Q1 2026 growth was just 1.0%, keeping structural undersupply intact.
Three names stand out for investors who want durable, cash distributions rather than speculation. Each is a different flavor of the same thesis.
Mid-America Apartment Communities (MAA) Mid-America Apartment Communities (NYSE:MAA | MAA Price Prediction) is the Sun Belt anchor of this list, with a $16.8 billion market cap and a dividend record that few residential REITs can match. Management just declared its 128th consecutive quarterly dividend, extending a payout streak that dates back to the company’s 1994 IPO with no cuts or suspensions. The 2026 quarterly rate stepped up to $1.53 per share from $1.515 in 2025, and the forward yield sits around 4.3%. The next payment comes on July 31 with an ex-dividend date is July 15.
The bull case is clear. MAA guided 2026 Core FFO to $8.35 to $8.71 per share, and CEO Brad Hill has been direct that Sun Belt supply is decelerating in a way that should reset lease pricing. Same-store occupancy held at 95.7% in Q4 2025, and an $932 million, 2,522-unit development pipeline gives the company organic growth optionality without needing to overpay in the acquisition market. Shares have quietly perked up, gaining 3.75% year to date to $142.67.
Risk to watch: Q4 2025 EPS came in at 48 cents, missing the 90-cent estimate, and a $53 million legal settlement charge plus roughly 25 cents per share of interest expense headwind in 2026 mean the recovery will be uneven quarter to quarter.
Equity Residential (EQR) Equity Residential (NYSE:EQR) is the coastal counterweight to MAA. At a $27 billion market cap, it is the largest name on this list, and its urban portfolio is doing exactly what the bull thesis predicted. San Francisco delivered 6.0% Q4 revenue growth and New York 4.2% growth at 97.6% occupancy. Resident turnover fell to 7.8% in Q1 2026, the lowest in company history, which is the sort of retention that quietly compounds cash flow.
The dividend was raised 1.4% to an annual rate of $2.81, with the last payment of 70 cents hitting shareholders on July 10. Yield sits at roughly 4.0%. Management has been aggressive on capital returns, repurchasing about 4.8 million shares in 2025 at an average price of $62.03, with another $200 million planned for the first half of 2026. S&P affirmed the A- credit rating with a positive outlook, and Goldman Sachs raised its price target to $71. Shares are up 14.68% year to date to $70.62.
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Risk to watch: EQR’s expansion markets (Denver, Atlanta, Dallas/Austin) are still showing negative revenue growth, and Q1 2026 EPS of $0.24 missed the $0.29 estimate after $36.6 million of insurance and litigation reserves. Income-focused investors interested in building broader dividend exposure alongside REITs may want to review the free Ten Dividend Kings research report as a companion read.
Camden Property Trust (CPT) Camden Property Trust (NYSE:CPT) is the smallest of the three at a $11.6 billion market cap, and it is the most direct bet on the Sun Belt supply cliff. The portfolio spans 172 properties and 58,759 apartment homes across 16 markets. Q1 2026 EPS of 40 cents beat the 25-cent estimate, and management raised the 2026 EPS midpoint to 66 cents with Core FFO guided to $6.60 to $6.90 per share.
Under new CEO Alex Jessett, Camden is deploying its $600 million share repurchase program aggressively, buying back 2.63 million shares in Q1 at an average $105.88, plus $171.3 million of post-quarter acquisitions in Alpharetta and Lake Nona. The last quarterly dividend of $1.06 paid out on July 17, for an annualized rate of $4.24 and a yield of about 3.6%. Shares have gained 8.39% year to date to $118.24.
Risk to watch: Same-property NOI declined 0.7% year over year, Austin revenue fell 2.7%, and a $53 million litigation settlement tied to revenue management software pushed net debt to EBITDA to 4.7x. Blended new lease rates were still negative at -1.4%, so the pricing recovery is not yet in the numbers.
What to Watch Next All three REITs pay in July, all three have raised distributions into 2026, and all three benefit from the same supply-demand equation. MAA offers the deepest dividend track record and highest yield, EQR offers the coastal recovery story with the strongest year-to-date price action, and CPT offers the highest-conviction Sun Belt turnaround if new leases inflect positive later in 2026. The catalyst to keep an eye on: Q2 2026 earnings reports, where blended lease rate trends will show whether the supply thesis is finally translating into pricing power.
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Key Takeaways MAA is expected to report Q2 revenue growth, while core FFO per share is projected to decline year over year.MAA cited steady occupancy, strong renewals and improving lease trends entering Q2.MAA guided Q2 core FFO to $2.00-$2.12 per share as higher costs may partly offset operating stability. Mid-America Apartment Communities (MAA - Free Report) — commonly known as MAA — is a real estate investment trust (REIT) that focuses on owning, operating and acquiring apartment communities throughout the Southeast, Southwest and Mid-Atlantic regions of the United States. The company is slated to report second-quarter 2026 results on July 29, after market close.
In the last reported quarter, this Germantown, TN-based residential REIT reported core FFO per share of $2.13, delivering a surprise of 0.47%. Results reflected same-store effective blended lease rate growth year over year.
Over the trailing four quarters, MAA surpassed the Zacks Consensus Estimate on three occasions and missed on the other, the average beat being 0.23%. This is depicted in the chart below:
Let’s see how things have shaped up before this announcement.
US Apartment Market in Q2The U.S. multifamily market entered the second half of 2026 with a clearer recovery taking shape, as strong renter demand and a rapidly shrinking supply pipeline began translating into lower vacancy and improving rent growth.
According to a Cushman & Wakefield report, net absorption reached roughly 124,600 units, up from 83,500 units in the first quarter and 8% above the prior year, making it the fifth-strongest quarter in nearly 25 years. The supply picture also became more favorable. Approximately 88,000 units were delivered during the quarter, down 27% year over year. Around 475,000 units remained under construction at quarter-end, equal to just 3.5% of existing inventory.
Improving demand and slowing supply pushed the national vacancy rate down 35 basis points quarter over quarter to 8.9%, its first move below 9% since 2024. On a trailing four-quarter basis, absorption of approximately 362,000 units exceeded deliveries of about 358,000 units for the first time since early 2022, indicating vacancy is likely to have passed its cyclical peak. The recovery was particularly pronounced in previously overbuilt markets: Austin; Charleston, SC; Savannah, GA; Huntsville, AL; Salt Lake City, UT, and Colorado Springs recorded some of the largest quarterly vacancy declines.
Rent growth remains modest but is beginning to improve. National asking rents reached approximately $1,945 per month, up 1.5% year over year, compared with 1.1% growth in the first quarter. The Bay Area led the recovery, with San Francisco rents rising 13%, San Jose 7% and the East Bay 4.8%. Norfolk, VA; Toledo, OH; Reno, NV; and Boise, ID, also posted strong gains.
High-supply markets remained softer, with rents still declining in Austin and Sarasota, FL, although the pace of those declines moderated as excess supply was absorbed. Overall, the market appears to be shifting from stabilization into an occupancy-led recovery, with broader rent growth likely as the construction pipeline continues to shrink.
Factors to Consider Ahead of MAA’s Upcoming ResultsMAA’s second-quarter 2026 results should reflect continued operating stability, with renewals, occupancy and moderating supply pressure supporting performance. Management said renewal growth remained above 5% entering the quarter, while April physical occupancy held at 95.5% and 60-day exposure improved 20 basis points from a year earlier. The company expects blended lease growth to accelerate from the first quarter’s negative 0.3%, helped by steady renewals and a more normal seasonal improvement in new lease pricing through July.
New lease rates will likely remain the main swing factor. Management noted improving momentum in March and April and expects May and June to perform better than last year, supported by strong lead volume, positive absorption and fewer deliveries. Atlanta and Dallas are showing better pricing and occupancy trends, while Austin, Charlotte and Savannah, GA, remain pressured by elevated concessions and supply.
For the quarter, MAA guided core FFO to $2.00-$2.12 per share, with a midpoint of $2.06. Higher seasonal maintenance costs and increased interest expense are likely to have limited the upside, although property dispositions and disciplined expense control may have partly offset those pressures.
Projections for MAAThe Zacks Consensus Estimate for quarterly revenues is pegged at $557.28 million. This suggests a 1.34% rise from the year-ago quarter’s reported figure.
For the second quarter, we project an average physical occupancy of 95.6%. However, we expect same-store property net operating income to fall 1.3% year over year. Our estimate indicates a 16.5% increase in the company’s interest expenses.
Before the second-quarter earnings release, the company’s activities were not adequate to gain analysts’ confidence. The Zacks Consensus Estimate for the quarterly core FFO per share has remained unchanged at $2.08 for more than two months. This also suggests a year-over-year decline of 3.26%.
Here Is What Our Quantitative Model Predicts for MAAOur proven model does not conclusively predict a surprise in terms of FFO per share for MAA this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.
MAA currently carries a Zacks Rank of 3 and has an Earnings ESP of -0.20%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a LookHere are two stocks from the broader REIT sector — Extra Space Storage (EXR - Free Report) and Cousins Properties (CUZ - Free Report) — you may want to consider, as our model shows that these have the right combination of elements to report an FFO beat this quarter.
Extra Space Storage is slated to report quarterly numbers on July 28. EXR has an Earnings ESP of +0.39% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cousins is slated to report quarterly numbers on July 30. CUZ has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
California Public Employees Retirement System lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,258 shares of the real estate investment trust’s stock after selling 138,697 shares during the period. California Public Employees Retirement System owned 0.23% of Mid-America Apartment Communities worth $32,882,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Mid-America Apartment Communities by 1.6% in the third quarter. State Street Corp now owns 8,119,375 shares of the real estate investment trust’s stock valued at $1,134,520,000 after purchasing an additional 125,130 shares during the period. Norges Bank acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth about $750,603,000. Viking Global Investors LP raised its stake in Mid-America Apartment Communities by 46.7% during the fourth quarter. Viking Global Investors LP now owns 3,880,048 shares of the real estate investment trust’s stock worth $538,977,000 after purchasing an additional 1,234,966 shares during the period. Geode Capital Management LLC raised its stake in Mid-America Apartment Communities by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,423,986 shares of the real estate investment trust’s stock worth $473,977,000 after purchasing an additional 40,028 shares during the period. Finally, Invesco Ltd. boosted its holdings in Mid-America Apartment Communities by 6.7% in the 4th quarter. Invesco Ltd. now owns 2,154,600 shares of the real estate investment trust’s stock valued at $299,295,000 after purchasing an additional 134,739 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Performance Shares of Mid-America Apartment Communities stock opened at $132.24 on Wednesday. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 40.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50-day moving average of $134.45 and a 200 day moving average of $131.95. Mid-America Apartment Communities, Inc. has a 12 month low of $120.30 and a 12 month high of $153.93.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $1.30. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The company had revenue of $553.73 million for the quarter, compared to analyst estimates of $555.75 million. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.5 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $1.53 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.6%. Mid-America Apartment Communities’s payout ratio is 185.45%.
Insider Activity In related news, Director Tamara D. Fischer bought 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at approximately $141,405. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.
Analyst Ratings Changes Several analysts have recently weighed in on the stock. Scotiabank increased their price target on shares of Mid-America Apartment Communities from $129.00 to $137.00 and gave the company a “sector underperform” rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Piper Sandler upped their price objective on Mid-America Apartment Communities from $140.00 to $143.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial increased their price objective on Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Cantor Fitzgerald cut their target price on Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $144.75.
Check Out Our Latest Research Report on Mid-America Apartment Communities
About Mid-America Apartment Communities (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Further Reading Five stocks we like better than Mid-America Apartment Communities Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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Bank of New York Mellon Corp reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 645,729 shares of the real estate investment trust’s stock after selling 22,720 shares during the quarter. Bank of New York Mellon Corp owned 0.55% of Mid-America Apartment Communities worth $78,856,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at $426,000. Calamos Wealth Management LLC bought a new position in Mid-America Apartment Communities in the first quarter valued at about $208,000. Calamos Advisors LLC boosted its stake in shares of Mid-America Apartment Communities by 2.9% during the first quarter. Calamos Advisors LLC now owns 59,713 shares of the real estate investment trust’s stock valued at $7,292,000 after purchasing an additional 1,702 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Mid-America Apartment Communities by 194.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,238 shares of the real estate investment trust’s stock valued at $640,000 after purchasing an additional 3,461 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Mid-America Apartment Communities by 92.7% during the first quarter. Chicago Partners Investment Group LLC now owns 8,504 shares of the real estate investment trust’s stock worth $1,059,000 after purchasing an additional 4,092 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth A number of research firms recently weighed in on MAA. Weiss Ratings upgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $143.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial increased their price target on Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Morgan Stanley raised their price objective on Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, UBS Group reduced their target price on Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.75.
View Our Latest Stock Report on Mid-America Apartment Communities
Mid-America Apartment Communities Trading Down 1.1% Shares of Mid-America Apartment Communities stock opened at $132.24 on Wednesday. The company has a market capitalization of $15.39 billion, a P/E ratio of 40.07 and a beta of 0.74. The stock has a fifty day simple moving average of $134.45 and a 200 day simple moving average of $131.95. Mid-America Apartment Communities, Inc. has a 12-month low of $120.30 and a 12-month high of $153.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.99.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $1.30. Mid-America Apartment Communities had a return on equity of 6.61% and a net margin of 17.60%.The company had revenue of $553.73 million for the quarter, compared to analysts’ expectations of $555.75 million. During the same period in the previous year, the business posted $2.20 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.5 earnings per share for the current fiscal year.
Mid-America Apartment Communities Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $1.53 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio is presently 185.45%.
Insider Activity In other Mid-America Apartment Communities news, Director Tamara D. Fischer acquired 1,100 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the purchase, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.
About Mid-America Apartment Communities (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Further Reading Five stocks we like better than Mid-America Apartment Communities Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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MAA's balance sheet is strong (low secured debt ratio ~2%, "A3" overall credit rating), but all three instruments are currently unattractive. MAA's asset yield is 10.33%, the asset coverage ratio is 211%, and the market-adjusted asset yield stands at 5.63%. MAA.PR.I preferred shares trade above par with a negative yield to worst, prompting a clear 'sell' recommendation until yields exceed 5%.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Scholar Rock (NASDAQ: SRRK), a global biopharmaceutical company dedicated to improving the lives of patients with rare, severe, and debilitating neuromuscular diseases by applying its world-leading platform in myostatin biology, today provided an update on the anticipated timing of a Committee for Medicinal Products for Human Use (CHMP) opinion for the apitegromab marketing authorisation application (MAA) for children and adults with spinal muscular atrophy (S.
, /PRNewswire/ -- MAA (NYSE: MAA) announced today that the Company expects to release its second quarter 2026 results on Wednesday, July 29, 2026, after market close and will hold a conference call on Thursday, July 30, 2026, at 9:00 a.m. Central Time. During the conference call, company officers will review second quarter performance and conduct a question-and-answer session.
The conference call-in number is (888) 596-4144 (Domestic) or +1 (646) 968-2525 (International). The Conference ID is 9650596. A replay of the conference call will be available from July 30, 2026 through August 13, 2026 by dialing (800) 770-2030 (Domestic) or +1 (609) 800-9909 (International).
A live webcast of the conference call will be available on the "For Investors" page of the Company's website at www.maac.com and an audio archive of the call will be posted on the Company's website following the call's conclusion.
About MAA
MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please refer to www.maac.com or contact Investor Relations at [email protected].
Mid-America Apartment Communities is efficiently priced, with the current NAVPS only 4.5% above the market price, warranting a hold rating. MAA's Sunbelt-focused portfolio benefits from strong job growth, in-migration, and affordability but faces headwinds from recent oversupply in key markets. Operating performance is stabilizing, with negative new lease growth moderating and same-store NOI growth guidance for 2026 less negative than 2025.
Mid-America Apartment Communities is rated a 'buy' with a $140 price target, reflecting a 6% FFO yield and solid income appeal. MAA's Sun Belt focus has been a near-term headwind due to oversupply, but occupancy and lease rates are stabilizing, signaling a bottoming in fundamentals. Development spending is curtailed, prioritizing buybacks and preserving balance sheet strength (4.5x debt/EBITDA), with flexibility for M&A if valuations improve.
If Mid-America Apartment Communities (NYSE:MAA | MAA Price Prediction) lives up to its billing as a retiree’s hedge against a hawkish Fed, the dividend has to be the load-bearing wall. With the 10-year Treasury at 4.49% and the Warsh Fed potentially pivoting back toward hikes, MAA’s ~4.6% yield on Sun Belt apartments needs to be durable. Let’s see if it is.
Dividend Snapshot Metric Value Annual Dividend $6.12 per share Dividend Yield ~4.6% Consecutive Quarterly Payments 128 Consecutive Annual Increases ~15 years Most Recent Raise ~1% (Dec 2025) Aristocrat Status No (not yet) Core FFO Cleanly Outruns the Payout REIT dividends are funded by cash flow rather than GAAP earnings, so the headline payout ratio looks scary until you adjust. The $6.12 dividend against FY2025 GAAP EPS of $3.78 is over 100%, normal for a depreciation-heavy REIT. What matters is Core FFO.
Metric Value Assessment FFO Payout Ratio (2025) ~70% Healthy AFFO Payout Ratio (2025) ~78.6% Adequate 2026 FFO Payout (Guided) ~71.7% Healthy Management’s 2026 Core FFO midpoint of $8.53 leaves roughly $2.41 per share above the dividend. That cushion absorbs the $0.25/share interest expense headwind from refinancing without breaking a sweat.
Balance Sheet Built for a Hawkish Fed Metric Value Assessment Net Debt/EBITDA 4.5x Manageable Avg Debt Maturity 6.1 years Strong Effective Rate on Debt 3.9% Locked in low Liquidity ~$840M cash + revolver capacity Solid buffer With debt locked at 3.9% for an average of 6.1 years, a Warsh rate-hike scenario pressures the refinancing math at the margin while leaving the dividend intact.
A 27-Year Streak Without a Cut Year Annual Dividend 2026 $6.12 2025 $6.06 2024 $5.88 2023 $5.60 2022 $4.78 MAA paid through 2008-2009 without a cut and has hiked every year since 2010. Recent growth has decelerated to ~1%, which is the fair tradeoff for a payout that’s never been broken.
Management’s Dividend Doctrine CEO Brad Hill on the Q1 2026 call: “We’re really focused on generating high-quality compounding earnings growth that supports a steady and growing dividend. We really think that’s the best way to drive total shareholder return over the full cycle.” COO Tim Argo reported Q1 2026 occupancy at 95.5% and net delinquency at just 0.3% of billings. Those are the numbers that fund the check.
Verdict: Safe, With Slow Growth Baked In Dividend Safety Rating: Safe. The ~72% FFO payout, 4.5x leverage, and Sun Belt demand backdrop (deliveries down 40% YoY) all point one way. The income case holds up for investors who can accept low-single-digit raises while supply digests through 2027. The risk case sharpens if a hawkish Fed crushes job growth in Texas and Florida, since blended lease pricing is already running negative 0.3%. On balance, this dividend is built to outlast the rate cycle.
Key Takeaways MAA gained 8.5% in three months, aided by Sun Belt renter demand and 95.5% occupancy in Q1 2026.MAA had six projects under construction totaling 1,788 units, with $234.2M left to fund.MAA completed 1,386 upgrades in Q1 2026, driving $104 higher rents and about 17% returns. Shares of Mid-America Apartment (MAA - Free Report) , which is commonly known as MAA, have rallied 8.5% over the past three months, outperforming the industry's growth of 3.9%.
MAA is supported by a diversified Sun Belt footprint and housing affordability that continues to favor renting. The company is balancing capital across development, redevelopment, technology investments and share repurchases. The balance sheet remains investment grade with ample liquidity to fund starts and lease-ups over time.
This residential real estate investment trust (REIT) carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its 2026 FFO per share is now pegged at $8.50.
Image Source: Zacks Investment Research
Factors Behind MAA’s Stock Price Surge: Will the Trend Last?MAA maintains a diversified apartment portfolio across the Southeast, Southwest and Mid-Atlantic, with a mix of urban and suburban assets. Longer-term in-migration and job growth in many of these Sun Belt markets, along with the high cost of home ownership, continue to support renter demand. In the first quarter of 2026, MAA’s same-store portfolio sustained average physical occupancy of 95.5%. Management expects deliveries to decline through 2026, which should support better seasonal new-lease pricing as the year progresses.
With acquisition cap rates for high-quality properties still around the mid-4% range in MAA’s footprint, external growth remains skewed to development and controlled land. As of March 31, 2026, MAA had six development communities under construction totaling 1,788 units, with $388.3 million of costs incurred and $234.2 million remaining to be funded.
MAA continues to invest in interior unit upgrades, amenity repositioning and technology programs to expand margins and grow NOI from the existing portfolio. In the first quarter of 2026, it completed 1,386 interior upgrades and achieved average rent increases of $104 versus non-upgraded units, a cash-on-cash return near 17%. In repositioning, the company has repriced six projects, with average NOI yields above 10%, and five additional projects are nearing completion, with repricing expected between May and August. On technology front, the WiFi retrofit initiative has expanded to 27 live properties and is expected to roll out to more than 35 additional properties in 2026.
MAA enjoys a solid balance sheet, with low leverage and ample availability under its revolving credit facility. As of March 31, 2026, MAA had $839.2 million of combined cash and available capacity under its unsecured revolving credit facility. It also has a low net debt/adjusted EBITDAre ratio of 4.5. Its outstanding debt has an average maturity of 6.1 years at an effective rate of 3.9% as of March 31, 2026. MAA also repurchased about 0.6 million shares for around $73 million, reflecting the ability to act when the public market value of the existing portfolio is more attractive than private market transactions. Hence, the company is well-positioned to bank on growth scopes.
Solid dividend payouts are arguably the biggest enticements for REIT shareholders, and MAA remains committed to that. In the past five years, MAA has increased its dividend seven times, and its five-year annualized dividend growth rate is 10.25%. Backed by healthy operating fundamentals, we expect its dividend distribution to be sustainable in the upcoming period.
Key Challenges to Weigh Before Investing in MAA StockSupply-heavy markets and concessions may cap near-term pricing. Development lease-up execution and variable-rate debt can lift interest costs for Mid-America Apartment.
Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Vornado Realty Trust (VNO - Free Report) and W.P. Carey (WPC - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for VNO’s 2026 FFO per share has been revised upward by a cent to $2.34 over the past month.
The consensus estimate for WPC’s 2026 FFO per share has been raised northward 1.3% over the past two months to $5.28.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Free Report) EVP Aubrey Clay Holder sold 145 shares of Mid-America Apartment Communities stock in a transaction on Monday, April 6th. The shares were sold at an average price of $124.73, for a total transaction of $18,085.85. Following the completion of the sale, the executive vice president owned 13,679 shares in the company, valued at approximately $1,706,181.67. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Aubrey Clay Holder also recently made the following trade(s):
On Thursday, January 8th, Aubrey Clay Holder sold 73 shares of Mid-America Apartment Communities stock. The stock was sold at an average price of $134.98, for a total transaction of $9,853.54. On Tuesday, January 6th, Aubrey Clay Holder sold 51 shares of Mid-America Apartment Communities stock. The shares were sold at an average price of $136.50, for a total transaction of $6,961.50. Mid-America Apartment Communities Trading Down 0.1% Shares of Mid-America Apartment Communities stock opened at $124.80 on Tuesday. Mid-America Apartment Communities, Inc. has a twelve month low of $120.30 and a twelve month high of $169.00. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $130.13 and a 200-day moving average price of $132.96. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 33.02 and a beta of 0.80.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($1.74). The firm had revenue of $555.56 million for the quarter, compared to the consensus estimate of $556.80 million. Mid-America Apartment Communities had a net margin of 20.23% and a return on equity of 7.44%. Mid-America Apartment Communities’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Mid-America Apartment Communities has set its Q1 2026 guidance at 2.050-2.170 EPS and its FY 2026 guidance at 8.350-8.710 EPS. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.
Mid-America Apartment Communities Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be issued a $1.53 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.9%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 161.90%.
Institutional Investors Weigh In On Mid-America Apartment Communities Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter worth about $750,603,000. Viking Global Investors LP bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Mid-America Apartment Communities by 621.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after purchasing an additional 1,040,525 shares during the period. Millennium Management LLC lifted its stake in Mid-America Apartment Communities by 3,129.2% in the fourth quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock worth $102,525,000 after purchasing an additional 715,209 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Mid-America Apartment Communities by 461.9% in the second quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock worth $106,777,000 after purchasing an additional 593,020 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Analyst Upgrades and Downgrades A number of research firms recently issued reports on MAA. Citigroup decreased their price target on shares of Mid-America Apartment Communities from $155.00 to $148.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. BMO Capital Markets upgraded shares of Mid-America Apartment Communities from a “hold” rating to an “outperform” rating and upped their target price for the company from $150.00 to $158.00 in a research report on Friday, January 9th. Mizuho increased their price target on shares of Mid-America Apartment Communities from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Truist Financial dropped their price target on Mid-America Apartment Communities from $142.00 to $136.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Mid-America Apartment Communities in a research note on Friday, March 27th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $149.74.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
About Mid-America Apartment Communities (Get Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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LANGHORNE, Pa.--(BUSINESS WIRE)--Savara Inc. (Nasdaq: SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced that the MHRA has accepted the submission of the MOLBREEVI MAA for the treatment of autoimmune PAP in the U.K. The MAA was accepted under Accelerated Review and qualifies for a 150-day assessment duration. A decision on the application is expected in Q4 2026. In the U.S., the FDA is reviewing the MOLBREEVI BLA under Priority.
Mid-America Apartment has quality assets trading and is trading at an attractive valuation. MAA's 2026 core FFO guidance is $8.53, pressured mainly by rising interest expenses rather than rent declines. Sunbelt apartment oversupply is abating, with new starts down sharply, setting up for potential rent growth in 12–18 months.
Massachusetts Financial Services Co. MA reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 11.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,834,157 shares of the real estate investment trust’s stock after selling 233,695 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.57% of Mid-America Apartment Communities worth $254,783,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in MAA. Viking Global Investors LP purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Mid-America Apartment Communities by 621.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after buying an additional 1,040,525 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Mid-America Apartment Communities in the 2nd quarter worth $54,314,000. UBS Group AG boosted its stake in shares of Mid-America Apartment Communities by 65.7% during the 3rd quarter. UBS Group AG now owns 712,167 shares of the real estate investment trust’s stock worth $99,511,000 after purchasing an additional 282,278 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Mid-America Apartment Communities by 10.0% during the 3rd quarter. Invesco Ltd. now owns 2,019,861 shares of the real estate investment trust’s stock worth $282,235,000 after purchasing an additional 184,453 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets In related news, EVP Amber Fairbanks sold 711 shares of Mid-America Apartment Communities stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $124.73, for a total transaction of $88,683.03. Following the completion of the sale, the executive vice president owned 4,471 shares in the company, valued at $557,667.83. This trade represents a 13.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,039 shares of company stock worth $129,594. Company insiders own 1.30% of the company’s stock.
Analyst Ratings Changes A number of equities analysts recently commented on MAA shares. Scotiabank dropped their price target on shares of Mid-America Apartment Communities from $140.00 to $138.00 and set a “sector perform” rating for the company in a research note on Monday, March 23rd. Morgan Stanley dropped their price target on shares of Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mid-America Apartment Communities in a research note on Friday, March 27th. Royal Bank Of Canada dropped their price target on shares of Mid-America Apartment Communities from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Finally, Colliers Securities cut shares of Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 9th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $149.74.
View Our Latest Report on Mid-America Apartment Communities
Mid-America Apartment Communities Trading Down 0.0% Shares of MAA opened at $126.34 on Monday. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $169.00. The company has a 50-day moving average of $129.48 and a 200 day moving average of $132.53. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 33.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.10 and a quick ratio of 0.10.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($1.74). Mid-America Apartment Communities had a net margin of 20.23% and a return on equity of 7.44%. The company had revenue of $555.56 million for the quarter, compared to the consensus estimate of $556.80 million. During the same quarter in the previous year, the business earned $2.23 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Mid-America Apartment Communities has set its Q1 2026 guidance at 2.050-2.170 EPS and its FY 2026 guidance at 8.350-8.710 EPS. On average, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.
Mid-America Apartment Communities Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be issued a dividend of $1.53 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.8%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 161.90%.
Mid-America Apartment Communities Company Profile (Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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B&I Capital AG grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,975 shares of the real estate investment trust’s stock after buying an additional 5,500 shares during the quarter. Mid-America Apartment Communities accounts for approximately 2.7% of B&I Capital AG’s investment portfolio, making the stock its 15th biggest holding. B&I Capital AG’s holdings in Mid-America Apartment Communities were worth $7,637,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of MAA. Viking Global Investors LP bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Mid-America Apartment Communities by 621.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after buying an additional 1,040,525 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $54,314,000. UBS Group AG raised its holdings in shares of Mid-America Apartment Communities by 65.7% in the 3rd quarter. UBS Group AG now owns 712,167 shares of the real estate investment trust’s stock worth $99,511,000 after purchasing an additional 282,278 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Mid-America Apartment Communities by 10.0% in the 3rd quarter. Invesco Ltd. now owns 2,019,861 shares of the real estate investment trust’s stock worth $282,235,000 after purchasing an additional 184,453 shares during the period. Institutional investors own 93.60% of the company’s stock.
Insider Activity In other news, EVP Amber Fairbanks sold 711 shares of Mid-America Apartment Communities stock in a transaction on Monday, April 6th. The shares were sold at an average price of $124.73, for a total transaction of $88,683.03. Following the completion of the sale, the executive vice president directly owned 4,471 shares of the company’s stock, valued at approximately $557,667.83. The trade was a 13.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,039 shares of company stock worth $129,594. Insiders own 1.20% of the company’s stock.
Mid-America Apartment Communities Stock Down 1.7% Mid-America Apartment Communities stock opened at $124.14 on Thursday. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $169.00. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 32.84 and a beta of 0.80. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $129.01 and a 200 day simple moving average of $132.29.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($1.74). The firm had revenue of $555.56 million for the quarter, compared to analysts’ expectations of $556.80 million. Mid-America Apartment Communities had a net margin of 20.23% and a return on equity of 7.44%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 earnings per share. Mid-America Apartment Communities has set its Q1 2026 guidance at 2.050-2.170 EPS and its FY 2026 guidance at 8.350-8.710 EPS. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.
Mid-America Apartment Communities Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be given a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Wednesday, April 15th. Mid-America Apartment Communities’s payout ratio is 161.90%.
Analyst Ratings Changes MAA has been the topic of a number of research reports. Morgan Stanley lowered their price target on shares of Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Truist Financial lowered their price target on shares of Mid-America Apartment Communities from $142.00 to $136.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Barclays lowered their price target on shares of Mid-America Apartment Communities from $144.00 to $138.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Friday, March 27th. Finally, Colliers Securities cut shares of Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $149.74.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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