Mid America Apartment Communities Inc. (MAA)
Real Estate · Multi-Family Residential REITs · US stock · S&P 500 component
$121.17
▲ +3.49 (2.97%)
Fair valueFair
$129 +6.3% to fair value
$64fair band $110–$156$193
Day's range
$117.86 – $121.26
52-week range
$113.95 – $144.41
About Mid America Apartment Communities Inc.
Mid-America Apartment Communities is a real estate investment trust that owns and operates apartment complexes across the Sun Belt region of the United States. It earns income from monthly rents paid by residents, plus smaller fees for parking, pets and other services. The company also develops and acquires communities, and its results depend on occupancy, rent trends in its markets and the cost of property operations and financing.
Sales totalled $2.2 billion over the last twelve months, and the three-year record shows growth of 3.0% a year. The operating margin is 26.9%, and the return on invested capital is 10%. Shareholders receive a dividend, currently yielding 5.1%. The site's X-Ray Score for the company is 47 out of 100.
Price chart
52-wk range $113.95 – $144.41Volume 873,899Daily, split-adjusted
Vitals
Market cap$14.1B
52-week range$113.95 – $144.41
Volume (last day)873,899
P/E (TTM)36.4
EBIT / EV yield4.2%
Free-cash-flow yield–
Dividend yield5.1%
Revenue (TTM)$2.2B
Net income (TTM)$390M
Operating margin26.9%
Return on capital9.8%
Debt incl. leasesData missing
Cash & securities$72M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$129middle half of models $122 – $135
Fair
+6.3% to fair value
Average of the 4 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $121
Undervalued < $110Fair $110 – $156Overvalued > $156
P/B multiple
$133
P/S multiple
$140
P/FFO multiple
$123
P/AFFO multiple
$118
Dividend discount, stable · not used
$266
Dividend discount, multi-stage · not used
$405
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Real Estate peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
52/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.2%
Fair value vs price1.1×
Growth
Weak
32/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)3.0%
EPS growth (3y)-11.6%
Growth consistency100%
Profitability
Fair
67/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital9.8%
Operating margin26.9%
Financial health
Weak
21/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score4 / 9
Interest cover3.1×
Dividends
Fair
69/100
Dividend is typical for its sector.
See the numbers →
Dividend yield5.1%
Dividend growth9.5%
Quarterly results: last 6 quarters
+1.4%
Dec '24
+1.0%
Mar '25
+0.6%
Jun '25
+0.6%
Sep '25
+1.0%
Dec '25
+0.8%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $554M, diluted EPS $1.06.
Compare with peers
VMRK Vivmark Residential62 CPT Camden Property Trust58 UDR UDR, Inc.50 ESS Essex Property Trust,...48Other Multi-Family Residential REITs companies by X-Ray Score.
SWOT analysis: Mid America Apartment Communities Inc.
Strengthsinside the company
- No standout strength in the figures we track.
Weaknessesinside the company
- Earnings per share have declined 11.6% a year over three years.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Our Market Compass rates the backdrop for Real Estate as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare MAA with peers and sector
Medians of 4 Multi-Family Residential REITs peers and of 28 Real Estate stocks in our universe.
Largest peers (X-Ray Score): VMRK 62, ESS 48, UDR 50, CPT 58.
| Metric | MAA | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 47 | 54 | 52 |
| Valuation | 52 | 64 | 53 |
| Growth | 32 | 48 | 56 |
| Profitability | 67 | 46 | 50 |
| Financial health | 21 | 60 | 56 |
| Dividends | 69 | 46 | 47 |
Sector leaders: highest X-Ray Score in Real Estate
MAA ranks #19 of 29 in Real Estate and #5 of 5 in Multi-Family Residential REITs by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for MAA
Each factor is rated by where MAA stands among the 29 Real Estate stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 7 Average · 4 Bad of 16
Growth: 0 · 0 · 3
Profitability: 1 · 3 · 0
Financial strength: 0 · 1 · 1
Valuation: 2 · 2 · 0
Cash flow: 2 · 1 · 0
| Factor | MAA | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +3.0% | Bad beats 16% | +6.8% | – | – |
| Revenue growth, last year | +0.8% | Bad beats 12% | +5.1% | +6.0% | ▼ Worse |
| EPS growth, 3 years a year | −11.6% | Bad beats 33% | −1.9% | – | – |
| Profitability | |||||
| Operating margin | 26.9% | Average beats 44% | 34.3% | 33.5% | ▼ Worse |
| Net margin | 17.6% | Average beats 40% | 21.5% | 25.7% | ▼ Worse |
| Return on invested capital | 9.8% | Good beats 73% | 7.5% | – | – |
| Return on equity | 7.0% | Average beats 40% | 7.3% | 8.9% | ≈ In line |
| Financial strength | |||||
| Interest cover | 3.1x | Average beats 40% | 3.4x | 4.6x | ▼ Worse |
| Piotroski F-score | 4 / 9 | Bad beats 9% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 36.3x | Average beats 38% | 32.1x | 34.2x | ≈ In line |
| Price / book | 2.6x | Average beats 52% | 2.6x | 3.0x | ▲ Better |
| Price / sales | 6.4x | Good beats 67% | 7.0x | 8.2x | ▲ Better |
| EV / EBITDA | 11.5x | Good beats 85% | 18.6x | – | – |
| Cash flow | |||||
| Free cash flow margin | 46.6% | Average beats 60% | 44.6% | 50.3% | ≈ In line |
| Cash from operations / net income | 2.65 | Good beats 73% | 1.91 | 2.06 | ▲ Better |
| Accruals (lower is better) | −5.3% | Good beats 81% | −3.7% | – | – |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 4 Average · ● 3 BadCash quality
Earnings backed by cashGood
Risk models
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyGood
Balance sheet
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 51/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $1.8B | $2.0B | $2.1B | $2.2B | $2.2B |
| Operating income | $720M | $802M | $720M | $713M | $644M |
| Net income | $534M | $637M | $553M | $528M | $447M |
| Operating cash flow | $895M | $1.1B | $1.1B | $1.1B | $1.1B |
| Operating margin | 40.5% | 39.7% | 33.5% | 32.6% | 29.2% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $4.61 | $5.48 | $4.71 | $4.49 | $3.78 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
6 bullish · 1 neutral · 9 bearish
Weekly
Strongly bearish
2 bullish · 1 neutral · 9 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 116.4 | Bullish |
| EMA 10 | 117.1 | Bullish |
| SMA 20 | 115.9 | Bullish |
| EMA 20 | 117.1 | Bullish |
| SMA 50 | 121.6 | Bearish |
| EMA 50 | 120.5 | Bullish |
| SMA 100 | 127.2 | Bearish |
| EMA 100 | 123.7 | Bearish |
| SMA 200 | 126.4 | Bearish |
| EMA 200 | 126.4 | Bearish |
Oscillators (daily)
| RSI (14) | 61.09 | Neutral |
| MACD (12, 26) | -0.80 | Bearish |
| Momentum (12) | 4.96 | Bullish |
| Stochastic %K (14) | 98.98 | Bearish |
| Williams %R (14) | -1.02 | Bearish |
| CCI (20) | 239.7 | Bearish |
Pivot points (classic, last session)
S3 115.5 | S2 116.7 | S1 118.9 | Pivot 120.1 | R1 122.3 | R2 123.5 | R3 125.7 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.12 USD
Yield on today's price
5.05%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.5300 | |
| 1.5300 | |
| 1.5300 | |
| 1.5300 | |
| 1.5150 | |
| 1.5150 | |
| 1.5150 | |
| 1.5150 | |
| 1.4700 | |
| 1.4700 | |
| 1.4700 | |
| 1.4700 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold MAA
| ETF | Share of the fund |
|---|---|
| REZ iShares Residential and Multisector Re... | 3.30% |
| ICF iShares Cohen & Steers REIT | 1.85% |
| XLRE The Real Estate Select Sector SPDR | 1.67% |
| RWR SPDR Dow Jones REIT | 1.52% |
| USRT iShares Core U.S. REIT | 1.23% |
| SPYD SPDR Portfolio S&P 500 High Dividend | 1.23% |
| IYR iShares U.S. Real Estate | 1.20% |
| DFAR DFA Investment Dimensions Group Inc. | 1.08% |
The eight funds with the largest weight in MAA among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
MAA SEC filings
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.