R. Nick Kerr's questions to Mid-America Apartment Communities Inc (MAA) leadership • Q2 2025
Question
R. Nick Kerr of Citigroup inquired about the on-the-ground performance in Atlanta, questioning why sequential revenue growth wasn't stronger, and asked for the specific blended lease rate expectation for the second half of the year.
Answer
Executive VP, Timothy Argo, explained that while Atlanta's revenue growth is still lagging, it showed the largest year-over-year improvement in blended pricing and occupancy among large markets. He noted positive signs like reduced concessions and improving delinquency. He also stated the blended lease expectation for the back half of 2025 is around 0.8%.