Earnings summaries and quarterly performance for MID AMERICA APARTMENT COMMUNITIES.
Executive leadership at MID AMERICA APARTMENT COMMUNITIES.
Brad Hill
Detailed
Chief Executive Officer and President
CEO
AF
Amber Fairbanks
Detailed
Executive Vice President, Property Management
CH
Clay Holder
Detailed
Executive Vice President, Chief Financial Officer
HE
H. Eric Bolton, Jr.
Detailed
Executive Chairman
JF
Joe Fracchia
Detailed
Executive Vice President, Chief Technology & Innovation Officer
MC
Melanie Carpenter
Detailed
Executive Vice President, Chief Human Resources Officer
RD
Robert DelPriore
Detailed
Executive Vice President, Chief Administrative Officer and General Counsel
TA
Timothy Argo
Detailed
Executive Vice President, Chief Strategy & Analysis Officer
Board of directors at MID AMERICA APARTMENT COMMUNITIES.
AB
Alan B. Graf, Jr.
Detailed
Lead Independent Director
CB
Claude B. Nielsen
Detailed
Director
DP
David P. Stockert
Detailed
Director
DH
Deborah H. Caplan
Detailed
Director
EK
Edith Kelly-Green
Detailed
Director
GS
Gary S. Shorb
Detailed
Director
JP
John P. Case
Detailed
Director
SK
Sheila K. McGrath
Detailed
Director
TF
Tamara Fischer
Detailed
Director
Research analysts who have asked questions during MID AMERICA APARTMENT COMMUNITIES earnings calls.
Alexander Goldfarb
Piper Sandler
6 questions for MAA
Also covers: ALEX, ALX, AVB +25 more
Brad Heffern
RBC Capital Markets
6 questions for MAA
Also covers: ADC, AMH, AVB +16 more
John Kim
BMO Capital Markets
6 questions for MAA
Also covers: AIV, ALX, ARDX +34 more
Eric Wolfe
Citi
5 questions for MAA
Also covers: AMH, AVB, CPT +13 more
HS
Haendel St. Juste
Mizuho Financial Group
5 questions for MAA
Also covers: AAT, ADC, AIV +21 more
Adam Kramer
Morgan Stanley
4 questions for MAA
Also covers: AMH, AVB, CPT +5 more
AC
Ann Chan
Green Street
4 questions for MAA
Also covers: AVB, ELME, IRT +1 more
AW
Austin Wurschmidt
KeyBanc Capital Markets Inc.
4 questions for MAA
Also covers: AHR, AIV, AMH +20 more
BH
Buck Horne
Raymond James Financial, Inc.
4 questions for MAA
Also covers: AMH, CLPR, DHI +9 more
JB
Julien Blouin
The Goldman Sachs Group, Inc.
4 questions for MAA
Also covers: ALX, AMH, CBRE +12 more
Linda Tsai
Jefferies
4 questions for MAA
Also covers: ADC, AKR, AMH +32 more
Michael Goldsmith
UBS
4 questions for MAA
Also covers: ADC, AHR, AMH +39 more
Rich Hightower
Barclays
4 questions for MAA
Also covers: ADC, AMH, APLE +23 more
Steve Sakwa
Evercore ISI
4 questions for MAA
Also covers: ALX, AMH, AVB +31 more
Alexander Kim
Zelman & Associates
3 questions for MAA
Also covers: AVB, CPT, EQR +2 more
DT
Daniel Tricarico
Scotiabank
3 questions for MAA
Also covers: AMH, CUBE, EQR +2 more
Mason P. Guell
Baird
3 questions for MAA
Also covers: ARE, CPT, CSR +2 more
Alex Kim
Zelman & Associates
2 questions for MAA
Also covers: AVB, CPT, EQR +2 more
CC
Cooper Clark
Wells Fargo
2 questions for MAA
Also covers: APLE, AVB, BRX +17 more
James Feldman
Wells Fargo
2 questions for MAA
Also covers: AMH, ARE, AVB +16 more
Jamie Feldman
Wells Fargo & Company
2 questions for MAA
Also covers: ADC, AMH, ARE +19 more
ML
Michael Lewis
Truist Securities, Inc.
2 questions for MAA
Also covers: ALX, BDN, BXP +12 more
Nick Yulico
Scotiabank
2 questions for MAA
Also covers: ALX, AVB, CPT +7 more
RS
Rob Stevenson
Janney Montgomery Scott
2 questions for MAA
Also covers: ADC, ALEX, CSR +8 more
WG
Wesley Golladay
Robert W. Baird & Co.
2 questions for MAA
Also covers: ADC, AHR, ARE +25 more
AC
Anne Chang
Green Street
1 question for MAA
AZ
Annie Zhang
Green Street
1 question for MAA
JG
Jana Galan
Bank of America
1 question for MAA
Also covers: ADC, AHH, AVB +24 more
JG
Jana Gallen
Bank of America
1 question for MAA
Also covers: AVB, ELS, EPR +1 more
Jeff Spector
Bank of America
1 question for MAA
Also covers: AIV, AMH, DEI +1 more
JD
Joshua Dennerlein
BofA Securities
1 question for MAA
Also covers: AHR, AMH, ARE +20 more
MG
Michael Gorman
BTG Pactual
1 question for MAA
Also covers: BNL, CSR, CTO +14 more
MS
Michael Stefany
Mizuho Financial Group
1 question for MAA
Also covers: AVB
Nicholas Yulico
Scotiabank
1 question for MAA
Also covers: AHR, ALX, AVB +20 more
NK
Nick Kerr
Citigroup Inc.
1 question for MAA
Also covers: VRE
OO
Omotayo Okusanya
Deutsche Bank AG
1 question for MAA
Also covers: AMH, ARE, AVB +43 more
RA
Richard Anderson
Wedbush Securities
1 question for MAA
Also covers: AIV, ARE, AVB +25 more
RN
R. Nick Kerr
Citigroup
1 question for MAA
Recent press releases and 8-K filings for MAA.
Mid America Apartment Communities updates 2026 guidance and development initiatives
MAA
Guidance Update
New Projects/Investments
Share Buyback
- 2026 Core FFO per share guidance of $8.35–$8.71 (midpoint $8.53), with Q1 2026 expected at $2.05–$2.17, underpinned by 35 bps of effective rent growth and 55 bps of property revenue growth.
- 2025 same-store trends show four consecutive quarters of YOY improvement in blended lease pricing and a 4Q occupancy of 95.7%, driven by low turnover and easing concessions.
- Active development pipeline includes 723 units in lease-up and 2,522 units under construction at a total expected cost of $932 million, targeting $55–$65 million of stabilized incremental NOI and $207 million of value creation.
- 2026 capital allocation plans encompass $45–$55 million for unit redevelopments, $16–$20 million for property repositioning, $250 million each for acquisitions and dispositions, and $33.8 million of share repurchases YTD.
7 hours ago
Mid-America Apartment Communities issues $200 M of 4.650% senior notes due 2033
MAA
Debt Issuance
- On February 27, 2026, Mid-America Apartments, L.P. issued and sold $200 million aggregate principal amount of 4.650% Senior Notes due January 15, 2033, as additional notes under its existing indenture.
- The Notes pay 4.650% interest semi-annually on January 15 and July 15, beginning July 15, 2026, and will be fungible with the initial $400 million series issued on November 10, 2025, under the same CUSIP.
- The Operating Partnership may redeem the Notes at any time before November 15, 2032, at a “make-whole” premium, and thereafter at 100% of principal plus accrued interest.
7 hours ago
MAA prices $200M 4.650% senior notes due 2033
MAA
Debt Issuance
- Mid-America Apartment Communities’ operating partnership priced $200 million of 4.650% senior unsecured notes due January 15, 2033 at 100.237% of par, yielding 4.606% (reoffer).
- The notes will join the existing $400 million 4.650% senior notes issued on November 10, 2025 as a single series under the same indenture and CUSIP.
- Net proceeds will repay borrowings under the company’s unsecured commercial paper program; any remaining funds will support general corporate purposes, including further debt repayment and apartment community acquisitions.
- The offering is expected to close on February 27, 2026, with J.P. Morgan, Citigroup, PNC, TD Securities and Wells Fargo as joint book-running managers.
2 days ago
MAA prices $200 million 4.650% senior notes due 2033
MAA
Debt Issuance
- MAALP, MAA’s operating partnership, priced a $200 million offering of 4.650% senior unsecured notes due January 15, 2033 under its existing indenture.
- The notes were issued at 100.237% of par with a reoffer yield of 4.606%, and the offering is expected to close on February 27, 2025.
- Net proceeds will be used to repay borrowings under the unsecured commercial paper program, with any remaining funds for general corporate purposes, including other debt repayment and apartment community investments.
2 days ago
MAA reports Q4 2025 earnings
MAA
Earnings
Guidance Update
Share Buyback
- Q4 Core FFO was $2.23 per diluted share, contributing to full-year Core FFO of $8.74 per share.
- Operating fundamentals showed 95.7% average occupancy (up 10 bps Y/Y) and +40 bps blended same-store lease rate growth, as new deliveries decelerate (down >60% in 2026 vs. peak) and the development pipeline stands at $932 million.
- 2026 guidance was updated to Core FFO of $8.35–$8.71 per share (midpoint $8.53); same-store revenue growth of 0.55% and a 0.75% decline in same-store NOI at midpoint.
- Capital actions included $81 million funded on the current development pipeline, $880 million of liquidity, net debt/EBITDA of 4.3x, issuance of $400 million seven-year bonds at ~4.75%, and repurchase of 207,000 shares at an average of $131.61 (first buyback since 2001).
Feb 5, 2026, 3:00 PM
MAA reports Q4 2025 results and 2026 guidance
MAA
Earnings
Guidance Update
New Projects/Investments
- Core FFO of $2.23 per share in Q4 and $8.74 for FY 2025; 2026 Core FFO guidance of $8.35–$8.71 per share (midpoint $8.53).
- Average occupancy of 95.7%, up 10 bps QoQ and YoY; same-store blended lease rates improved 40 bps YoY; net delinquency at 0.3% of billings.
- Active development pipeline at $932 million, with $81 million funded in Q4 and $306 million remaining to fund; projects expected to deliver stabilized NOI yields of 6–6.5%.
- Ended Q4 with $880 million in combined cash and revolver capacity, net debt/EBITDA of 4.3×, and issued $400 million of 7-year bonds at ~4.75% to refinance maturing paper.
Feb 5, 2026, 3:00 PM
MAA reports Q4 2025 results and provides 2026 guidance
MAA
Earnings
Guidance Update
New Projects/Investments
- MAA reported Core FFO of $2.23 per share for Q4 and $8.74 per share for FY 2025, and issued initial 2026 Core FFO guidance of $8.35–$8.71 per share (midpoint $8.53).
- Fourth quarter average physical occupancy was 95.7%, up 10 basis points year-over-year, with blended lease rates improving 40 basis points, and net delinquency at 0.3% of billings.
- At quarter end, MAA had $880 million of combined cash and borrowing capacity, a net debt-to-EBITDA ratio of 4.3x, 87% of outstanding debt fixed at a 6.4-year average maturity (3.8% rate); issued $400 million of 7-year bonds at ~4.75%, and repurchased 207,000 shares at an average price of $131.61.
- The company’s active development pipeline reached $932 million, with $81 million funded in Q4 and $306 million remaining, including shovel-ready acquisitions in Scottsdale and Arlington (287-unit project).
- MAA settled the RealPage multi-district lawsuit without admitting wrongdoing or altering operations; two state attorney general matters remain pending.
Feb 5, 2026, 3:00 PM
MAA reports Q4 2025 results
MAA
Earnings
Debt Issuance
Guidance Update
- MAA reported Q4 2025 diluted EPS of $0.48, FFO per diluted share of $1.79 and Core FFO per diluted share of $2.23, and full-year 2025 diluted EPS of $3.78, FFO of $8.32 and Core FFO of $8.74 per share.
- Same Store effective physical occupancy was 95.7%, average effective rent per unit $1,687, with effective blended lease rate growth of –1.7% year-over-year in Q4 2025.
- MAA issued $400 M of 7-year unsecured senior notes at 4.65%, extended its unsecured revolving credit facility to $1.5 B maturing January 2030, and repurchased 0.2 M common shares at an average price of $131.61 for $27 M in Q4 2025.
- MAA’s 2026 guidance includes a Core FFO midpoint of $8.53 per diluted share and Q1 2026 Core FFO guidance midpoint of $2.11 per share.
- During Q4 2025, MAA completed the initial lease-up of MAA Vale in Raleigh, began construction on a Phoenix multifamily community, and acquired Northern Virginia land for a 287-unit development.
Feb 4, 2026, 9:15 PM
MAA reports fourth quarter and full year 2025 results
MAA
Earnings
Guidance Update
Dividends
- MAA reported Q4 net income available to common shareholders of $56.6 million (EPS $0.48), Total NOI of $349.8 million; for FY 2025, net income was $443.2 million (EPS $3.78), and Total NOI was $1.371 billion.
- FFO per diluted share was $1.79 in Q4 and $8.32 for the year, Core FFO per share was $2.23 in Q4 and $8.74 for FY 2025; MAA declared its 128th consecutive quarterly dividend at $1.53 per share (annual rate $6.12).
- In Q4, MAA repurchased 0.2 million shares for $27 million, expanded its unsecured revolver to $1.5 billion (accordion to $2.0 billion), issued $400 million of 4.65% senior notes due 2033, and closed 2025 with $879.2 million of cash and revolver capacity; net debt/adjusted EBITDAre was 4.3x.
- MAA provided initial 2026 guidance of $4.11–$4.47 in diluted EPS, $8.35–$8.71 in Core FFO per share, $7.32–$7.68 in Core AFFO per share, and same-store NOI growth of -1.7% to 0.3%.
Feb 4, 2026, 9:15 PM
Mid-America Apartment Communities agrees to $53 M antitrust settlement
MAA
Legal Proceedings
- Mid-America Apartment Communities will pay $53 million to settle the In Re: RealPage antitrust class action in two equal $26.5 million installments, subject to preliminary and final court approval.
- The settlement includes prospective commitments on nonpublic data disclosure and revenue management software usage, which align with current practices and trigger revision or termination rights if opt-out levels exceed specified thresholds.
- The Company will boost its loss contingency reserve to $62.5 million in its year-end 2025 financials—recorded in other non-operating expense and accrued liabilities—without affecting 2025 Core FFO or FAD.
- Management does not expect the settlement to impair credit ratings, liquidity, leverage ratios, debt covenants, or its dividend policy, viewing the payment as manageable within its capital plan.
Jan 28, 2026, 9:15 PM
Quarterly earnings call transcripts for MID AMERICA APARTMENT COMMUNITIES.
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