Mid-America Apartment (MAA) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 29, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.82

Last Year’s EPS

1.59

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 18 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a cautiously optimistic outlook: operations show steady fundamentals with occupancy, renewal pricing, record resident scores and low delinquencies supporting resilience. Management emphasizes a strong balance sheet, a $932M development pipeline with attractive underwritten yields (6.0%–6.5%), and strategic investments (renovations, common-area repositioning) that have demonstrated high returns (19% cash-on-cash, >10% NOI yields on amenity projects). Near-term headwinds remain—muted new-lease growth, prolonged lease-up concessions, projected same-store NOI decline (-0.75% midpoint), higher interest expense (+15%+), and slightly lower core FFO guidance versus 2025 (-~2.4% at midpoint). Overall, the positives around balance sheet strength, improving blends, strong renewal performance and long-term development economics modestly outweigh near-term operational and financing pressures, supporting a positive, constructive outlook for recovery through 2026 and into 2027.

Company Guidance

MAA guided 2026 core FFO of $8.35–$8.71 per diluted share (midpoint $8.53) with same-store revenue growth midpoint of 0.55% (rental pricing earn‑in -0.2%, blended rental pricing 1.0–1.5%), renewal pricing expected at 5.0–5.25%, effective rent growth ~0.35% at the midpoint, and average occupancy guidance of 95.6%; other revenue is expected to grow just over 2% while same‑store operating expenses are projected to rise ~2.65% (personnel <2%), producing a midpoint same‑store NOI decline of ~0.75%, plus a $0.19 NOI contribution from non‑same‑store assets. Management plans $350–$450M of external growth funded with debt and internal cash flow, will match‑fund $250M of acquisitions with dispositions, and expects 5–7 new developments to begin in 2026 (active pipeline $932M; ~$81M funded in Q4, ~$306M remaining to fund over the next 3 years) with stabilized NOI yields of 6.0–6.5% (common‑area projects averaging >10% NOI yield); balance sheet metrics include $880M combined cash/credit capacity, net debt/EBITDA ~4.3x, ~87% of debt fixed with 6.4‑year average maturity at a 3.8% effective rate (including a $400M 7‑yr issuance at ~4.75%), planned refinancing of $300M maturing Sep‑2026, expected incremental interest expense >$0.05 and total interest expense up >15%, a modestly dilutive 2026 FFO impact from recent developments/acquisitions that should turn accretive after stabilization, a repurchase of 207,000 shares at $131.61 in Q4, and an expectation to exclude Winter Storm Fern impacts from core FFO as insurance proceeds are recovered.

Core FFO Results and Guidance

Q4 core FFO of $2.23 per diluted share, in line with the midpoint of Q4 guidance; full-year 2025 core FFO of $8.74 per share. 2026 core FFO guidance of $8.35 to $8.71 per share ($8.53 midpoint).

Occupancy and Collections Strength

Average physical occupancy of 95.7% in Q4 (up 10 bps YoY and vs Q3 2025); ended January with physical occupancy ~95.6%. Net delinquency was low at 0.3% of billed rents and 60-day exposure ~7.1% (in line with prior year).

Pricing and Renewal Performance

Blended lease-over-lease performance improved +40 bps YoY in Q4, supported by a +50 bps improvement in renewal rates. Renewal pricing expected to remain strong in 2026 in the 5.0% to 5.25% range.

Improving Fundamental Outlook

Management expects a 110–160 bps improvement in blended lease rates and an ~85 bps improvement in effective rent growth in 2026 vs 2025, driven by moderating new supply, continued demand, and seasonal momentum.

Strong Resident Metrics and Retention

Record retention levels, sector-leading resident Google scores averaging 4.7/5 for the year, and rent-to-income ratios improved, supporting affordability and collections durability.

Renovation and Repositioning Returns

5,995 interior unit upgrades completed in 2025 (1,227 in Q4) producing average rent premiums of $95 vs non-upgraded units, 19% cash-on-cash return, and renovated units leased ~11 days faster than non-renovated units (adjusted).

Common Area Repositioning Success

Six recent common-area/amenity projects are >70% repriced on average with NOI yields above 10% and outperformance in rent growth versus peer MAA properties; 5 additional projects underway targeting repricing in mid-2026.

Development Pipeline and Strategic Purchases

Active development pipeline of $932 million after purchasing a shovel-ready Scottsdale project and a land parcel in Clarendon (Arlington, VA) for a 287-unit community; expect to begin construction on 5–7 new projects in 2026.

Attractive Development Yields vs Market

Underwritten/stabilized NOI yields for development expected between 6.0% and 6.5%, materially above reported market cap rates (~4.6%), providing a meaningful spread for long-term value creation.

Healthy Balance Sheet and Liquidity

Combined cash and revolver capacity of $880 million; net debt-to-EBITDA of 4.3x; ~87% of debt fixed with weighted average maturity 6.4 years at an effective rate of 3.8%. Issued $400M 7-year bonds at ≈4.75% and repurchased 207,000 shares at $131.61 (first repurchase since 2001).

Mid-America Apartment (MAA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MAA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2026	2026 (Q1)	0.82 / -	1.592	―	―	―
Feb 04, 2026	2025 (Q4)	0.92 / 0.48	1.461	-67.15% (-0.98)
Oct 29, 2025	2025 (Q3)	0.89 / 0.81	0.95	-14.32% (-0.14)	―
Jul 30, 2025	2025 (Q2)	0.87 / 0.96	0.833	14.77% (+0.12)	―
Apr 30, 2025	2025 (Q1)	0.89 / 1.59	1.22	30.49% (+0.37)	―
Feb 05, 2025	2024 (Q4)	1.01 / 1.46	1.37	6.64% (+0.09)	―
Oct 30, 2024	2024 (Q3)	1.01 / 0.95	0.94	1.06% (+0.01)	―
Jul 31, 2024	2024 (Q2)	1.01 / 0.83	1.24	-32.82% (-0.41)	―
May 01, 2024	2024 (Q1)	1.03 / 1.22	1.16	5.17% (+0.06)	―
Feb 07, 2024	2023 (Q4)	1.07 / 1.37	1.62	-15.43% (-0.25)	―

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
Feb 04, 2026	$135.05	$130.72	-3.21%
Oct 29, 2025	$124.86	$127.36	+2.00%
Jul 30, 2025	$145.45	$139.24	-4.27%
Apr 30, 2025	$154.51	$156.85	+1.52%

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 Apr 29, 2026, After Close (Confirmed).

What is Mid-America Apartment Communities (MAA) earnings time?

Mid-America Apartment Communities (MAA) earnings time is at Apr 29, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is MAA EPS forecast?

MAA EPS forecast for the fiscal quarter 2026 (Q1) is 0.82.