Mid-America Apartment Communities (MAA)
NYSE:MAA
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.8Last Year’s EPS
0.96Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed cautious optimism: operations showed clear strengths (occupancy at 95.5%, low delinquencies, expense control, sequential improvement in lease pricing, strong renovation economics, solid liquidity and a sizable development pipeline). However, persistent supply pressure in several markets (notably Austin and Charlotte), elevated concessions in lease-ups, a negative blended new-lease read in Q1 (-0.3%), and some timing-related reductions to development starts are notable headwinds. On balance, management sees improving momentum (absorption > deliveries, supply down ~40% YoY, better 60-day exposure) and has the balance sheet and capital allocation flexibility to support recovery.Company Guidance
Beat on Core FFO and Expense Control
Reported core FFO of $2.13 per diluted share for Q1, $0.02 above guidance; same-store expenses were favorable to guidance by $0.015 per share and non-same-store NOI was favorable by $0.01 per share, reflecting disciplined expense management and timing benefits.
Strong Occupancy and Collections
Average physical occupancy was 95.5% for the quarter (95.5% in April as well); net delinquency remained low at 0.3% of billings, in line with recent quarters, indicating strong collections and resident payment behavior.
Improving Lease Pricing Momentum
Blended lease-over-lease pricing improved 140 basis points sequentially from Q4; new lease-over-lease growth improved 110 basis points sequentially and renewal lease-over-lease growth improved 70 basis points sequentially, signaling sequential improvement in pricing trends after Q1 negative blended performance.
Supply/Demand Dynamics Improving
First-quarter absorption exceeded new supply deliveries in the company's footprint; regional new deliveries are down ~40% year-over-year, and 60-day exposure improved to 8.3%, 20 basis points better than April 2025, supporting a constructive outlook for further pricing recovery.
Development Pipeline and Starts
Owned/controlled land sites represent over 4,300 units of future growth; development pipeline stood at $623 million at quarter end with ~$234 million remaining to be funded over the next 3 years; started construction on first project (286 units) in April and now expect to start 4 projects this year.
Value-Creating Renovation Program
Completed 1,386 interior unit upgrades in Q1 (vs ~1,100 in Q1 2025), achieving average rent lifts of $104 above non-upgraded units on an average unit spend of $7,349 — a cash-on-cash return of ~17%; renovated units lease faster (about 9 days quicker).
Strong Balance Sheet and Liquidity
Combined cash and borrowing capacity under the revolving credit facility of nearly $840 million; net debt-to-EBITDA was 4.5x; outstanding debt average maturity 6.1 years at an effective rate of 3.9%; completed $200 million 7-year bond issuance at ~4.6% and used proceeds to repay short-term borrowings.
Share Repurchases and Capital Allocation
Repurchased 558,000 shares for $73 million at a weighted average price of $130.46, taking advantage of public market pricing dislocation while maintaining a balanced capital allocation approach (development, buybacks, balance sheet protection).
MAA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MAA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $129.06 | ― | ― |
Feb 04, 2026 | $133.41 | $129.14 | -3.21% |
Oct 29, 2025 | $123.35 | $125.82 | +2.00% |
Jul 30, 2025 | $143.69 | $137.55 | -4.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mid-America Apartment Communities (MAA) report earnings?
Mid-America Apartment Communities (MAA) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Mid-America Apartment Communities (MAA) earnings time?
Mid-America Apartment Communities (MAA) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MAA EPS forecast?
MAA EPS forecast for the fiscal quarter 2026 (Q2) is 0.8.