A Business at a Glance
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MAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or REIT. We own, operate, acquire and selectively develop apartment communities primarily located in the Southeast, Southwest and Mid-Atlantic regions of the U.S. As of December 31, 2025, we maintained full or partial ownership of apartment communities, including communities currently in development, across 16 states and the District of Columbia, summarized as follows: Communities (1) (1)As of December 31, 2025, 35 of the Company’s apartment communities included retail components. (2)Number of communities includes eight communities under development as of December 31, 2025. One of these developments is a phase II expansion of an existing apartment community. (3)Number of units excludes development units not yet delivered as of December 31, 2025. Our business is conducted principally through the Operating Partnership.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 2.2B | 2.2B | 2.1B | 2.0B | 1.8B |
| Net Income | 443M | 443M | 524M | 549M | 634M | 530M |
| EPS | $3.78 | $3.78 | $4.49 | $4.71 | $5.48 | $4.61 |
| Free Cash Flow | 718M | 718M | 776M | 796M | 762M | 615M |
| ROIC | 5.9% | 6.0% | 6.6% | 6.8% | 7.8% | 6.8% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.89 | 0.89 | 0.78 | 0.69 | 0.67 | 0.70 |
| Dividends/Share | $6.05 | $6.08 | $5.93 | $5.67 | $4.99 | $4.16 |
| Operating Income | 633M | 633M | 698M | 703M | 782M | 701M |
| Operating Margin | 28.7% | 28.7% | 31.8% | 32.7% | 38.7% | 39.4% |
| ROE | 7.8% | 7.6% | 8.8% | 9.0% | 10.6% | 8.9% |
| Shares Outstanding | 117M | 117M | 117M | 117M | 116M | 115M |
MID AMERICA APARTMENT COMMUNITIES INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
MID AMERICA APARTMENT COMMUNITIES INC. trades at 33.3x trailing earnings, compared to its 15-year median P/E of 35.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 20.5x vs a median of 22.1x. The company's 5-year average ROIC is 6.8%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is +8.8%.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a current P/E ratio of 33.3, compared to its historical median P/E of 35.0. The stock is currently considered Fair based on its historical valuation range.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a 5-year average return on invested capital (ROIC) of 6.8%. This is below average and may indicate limited pricing power.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a market capitalization of $14.8B. It is classified as a large-cap stock.
Yes, MID AMERICA APARTMENT COMMUNITIES INC. (MAA) pays a dividend with a trailing twelve-month yield of 4.80%. The company also returns capital through share buybacks, with a buyback yield of 0.18%.
Based on historical P/E analysis, MID AMERICA APARTMENT COMMUNITIES INC. (MAA) appears fair. The current P/E of 33.3 is 5% below its historical median of 35.0. The estimated fair value CAGR (P/E method) is 14.8%.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) reported annual revenue of $2.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a net profit margin of 20.1%. This is a strong margin indicating high profitability.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) generated $718 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a debt-to-equity ratio of 0.89. This indicates moderate leverage.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) reported earnings per share (EPS) of $3.78 in its most recent fiscal year.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a return on equity (ROE) of 7.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 18 years of financial data for MID AMERICA APARTMENT COMMUNITIES INC. (MAA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MID AMERICA APARTMENT COMMUNITIES INC. (MAA) has a book value per share of $48.30, based on its most recent annual SEC filing.