Mid-America Apartment (MAA) AI Stock Analysis

• Market Cap: $18.00B
• Dividend Yield: 3.98%
• Average Volume (3M): 825.50K
• Price to Earnings (P/E): 31.2
• Beta (1Y): 0.62
• Revenue Growth: 1.55%
• EPS Growth: 0.73%
• Country: US
• Employees: 2,532
• Sector: Real Estate
• Sector Strength: 60
• Industry: REIT - Residential
• EPS (TTM): 1.59
• Shares Outstanding: 117,057,720
• 10 Day Avg. Volume: 837,858
• 30 Day Avg. Volume: 825,499
• PEG Ratio: 4.31
• Price to Book (P/B): 2.97
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 23.51
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 2.01
• Enterprise Value/Gross Profit: 24.98
• Enterprise Value/Ebitda: 3.39
• 1Y Price Target: $171.53
• Price Target Upside: 13.60% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 57 Neutral
• Price Target: $161.00 ▲(6.62%Upside)

The overall stock score is primarily impacted by the mixed financial performance, with strong balance sheet fundamentals but declining revenues and cash flow issues. Technical analysis also reflects a bearish trend, while valuation concerns are balanced by a decent dividend yield. Positive earnings call insights and corporate events contribute to a cautiously optimistic outlook.

Positive Factors

Financial Performance

The company reported core FFO numbers of $2.20 which was four cents higher than consensus and seven cents higher than analyst numbers, as well as above the company's expectations.

Occupancy

Occupancy increased by 30 basis points year over year to 95.6%, remaining stable quarter over quarter.

Negative Factors

Financial Guidance

The guidance for the second quarter is 2.7% below consensus due to seasonal expenses and tax settlement timing.

Lease Pricing

Lease pricing for new leases in the Same Store Portfolio decreased by 8.0% due to supply pressures.

Mid-America Apartment Business Overview & Revenue Model

Company Description

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia.

How the Company Makes Money

MAA generates revenue primarily through the rental income from its portfolio of multifamily apartment communities. The company leases apartments to residents, who pay rent on a monthly basis, which constitutes the core revenue stream. Additionally, MAA may earn ancillary income from fees related to services provided to residents, such as pet fees, parking fees, and utility reimbursements. The company also engages in property development and redevelopment, which can lead to increased rental income and property value over time. As a REIT, MAA benefits from favorable tax treatment, provided it distributes a significant portion of its taxable income as dividends to shareholders, which can also attract investment and support its financial performance.

Mid-America Apartment Financial Statement Overview

Summary

The financial performance shows strengths in the balance sheet with no debt and solid equity, but the income statement and cash flow statement reveal challenges such as declining revenues and cash generation issues.

Income Statement

The income statement presents a mixed picture. The company showed a declining revenue trend over recent years. Revenue for the most recent year was null, indicating operational challenges. Despite this, EBITDA margins have improved significantly from 2022 to 2023, reflecting efficiency in operations. However, EBIT margins are negative, pointing to high depreciation or amortization expenses relative to operational income. Net profit margin has shown consistency, albeit with slight fluctuations, demonstrating some stability in net income.

Balance Sheet

The balance sheet is robust, with a strong equity position and no total debt reported in the most recent year. This indicates a reduction in leverage and potential for financial stability. Return on equity is fluctuating but generally aligns with industry norms for REITs. The equity ratio remains solid, suggesting a stable capital structure. The company's assets have grown consistently, contributing to a stable financial position.

Cash Flow

Cash flow performance is mixed. The free cash flow is null for the latest year, indicating potential challenges in cash generation. However, previous years showed healthy free cash flow, supporting the company's ability to fund operations and investments. Operating cash flow to net income ratios have been strong, reflecting good cash earnings quality. The lack of free cash flow growth in the latest year is a concern and reflects the need for improved cash management.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.20B	2.19B	2.15B	2.02B	1.78B	1.68B
	Gross Profit
705.48M	713.27M	747.48M	687.71M	517.75M	526.67M
	EBIT
650.39M	656.75M	688.90M	628.88M	464.87M	-79.31M
	EBITDA
1.35B	1.30B	1.29B	1.35B	1.25B	944.25M
	Net Income Common Stockholders
565.47M	527.54M	552.81M	637.44M	533.79M	254.96M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
142.41M	43.02M	41.31M	38.66M	54.30M	25.20M
	Total Assets
11.35B	11.81B	11.48B	11.24B	11.29B	11.19B
	Total Debt
4.40B	5.01B	4.57B	4.41B	4.52B	4.56B
	Net Debt
4.25B	4.96B	4.53B	4.38B	4.46B	4.54B
	Total Liabilities
4.96B	5.66B	5.19B	5.03B	5.10B	5.09B
	Stockholders Equity
6.20B	5.96B	6.11B	6.03B	6.00B	5.89B
Cash Flow		Free Cash Flow
751.87M	775.92M	597.81M	762.30M	615.33M	397.01M
	Operating Cash Flow
1.09B	1.10B	1.14B	1.06B	894.97M	823.95M
	Investing Cash Flow
-794.12M	-825.50M	-775.26M	-405.24M	-253.59M	-484.73M
	Financing Cash Flow
-299.38M	-271.12M	-367.90M	-722.77M	-546.40M	-374.14M

Mid-America Apartment Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 151.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAA, the sentiment is Negative. The current price of 151 is below the 20-day moving average (MA) of 156.20, below the 50-day MA of 158.04, and below the 200-day MA of 155.68, indicating a bearish trend. The MACD of -2.44 indicates Positive momentum. The RSI at 38.17 is Neutral, neither overbought nor oversold. The STOCH value of 19.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAA.

Mid-America Apartment Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPT	76 Outperform	$16.39B	106.52	2.47%	3.48%	0.56%	-73.40%
EQR	74 Outperform	$26.03B	26.73	9.01%	3.97%	3.91%	8.78%
UDR	70 Outperform	$13.61B	114.91	3.40%	4.15%	2.35%	-73.89%
INVH	70 Outperform	$20.34B	96.59	4.92%	3.43%	6.11%	-37.43%
ESS	63 Neutral	$18.61B	26.71	12.09%	3.55%	7.61%	27.83%
Sector *	61 Neutral	$2.83B	10.98	0.41%	8438.90%	5.81%	-21.06%
MAA	57 Neutral	$18.00B	31.20	9.37%	3.98%	1.55%	0.73%

Mid-America Apartment Corporate Events

Mid-America Apartment Highlights at Nareit REITweek 2025

MAA announced its participation in the Nareit REITweek 2025 Investor Conference, highlighting its strong market positioning and operational strategies. The company emphasized its robust development pipeline, disciplined capital allocation, and strong balance sheet, which support its continued growth and ability to deliver attractive returns for investors.

The most recent analyst rating on (MAA) stock is a Hold with a $165.00 price target. To see the full list of analyst forecasts on Mid-America Apartment stock, see the MAA Stock Forecast page.

Mid-America Apartment Holds 2025 Annual Shareholder Meeting

On May 20, 2025, Mid-America Apartment held its 2025 Annual Meeting of Shareholders, where shareholders voted on several key matters. Eleven directors were elected to serve until the 2026 Annual Meeting, executive compensation was approved in an advisory vote, and Ernst & Young LLP was ratified as the independent registered public accounting firm for 2025.

The most recent analyst rating on (MAA) stock is a Hold with a $165.00 price target. To see the full list of analyst forecasts on Mid-America Apartment stock, see the MAA Stock Forecast page.

Mid-America Apartment Highlights Strong Financial Performance

In a recent update, Mid-America Apartment Communities (MAA) highlighted its strong financial performance and strategic initiatives aimed at sustaining growth. The company reported a forecasted Core FFO per share growth rate of 4.6% over five years and emphasized its robust dividend track record. MAA’s long-term shareholder returns have consistently outperformed peers, and its diversified portfolio strategy is expected to drive future value creation. The company is also focusing on new developments, redevelopments, and technological advancements to enhance its platform capabilities and capture high growth and demand in its markets.

Mid-America Apartment Announces CEO Transition in 2025

H. Eric Bolton, Jr., the current CEO of Mid-America Apartment Communities, Inc., will retire on March 31, 2025, with A. Bradley Hill taking over as CEO on April 1, 2025. Bolton will transition to the role of Executive Chairman, supporting the new CEO and continuing to serve as Chairman of the Board. A new employment agreement has been established for Bolton’s role as Executive Chairman, effective April 1, 2025, with terms detailing his responsibilities and compensation, including conditions for termination and non-compete clauses.