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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Mid-America Apartment Communities, known as MAA, is a prominent S&P 500 entity operating as a Real Estate Investment Trust (REIT). Its core objective is to generate outstanding, comprehensive investment returns for its shareholders. MAA achieves this by strategically acquiring, developing, redeveloping, owning, and managing high-quality apartment complexes.
How they make money
MAA operates as a self-administered and self-managed real estate investment trust (REIT) that generates revenue primarily through the leasing of apartment units. The company focuses on the ownership, management, acquisition, development, and redevelopment of multifamily apartment communities across the Southeast, Southwest, and Mid-Atlantic regions of the United States.
Products & services
Multifamily residential apartment communities, including property management, leasing services, and selective retail components within certain apartment communities.
Brands & revenue mix
MAA
The primary brand under which the company operates its apartment communities.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company does not rely on any single tenant for a significant portion of its revenue, as its business model is based on a large, diversified base of individual residential apartment renters.
Suppliers, materials & equipment
Property management and maintenance service providers — Third-party vendors providing routine maintenance, landscaping, and property-level operational services.Source
Construction and development contractors — General contractors and subcontractors engaged for the development and redevelopment of apartment communities.Source
Strengths
Geographically diversified portfolio across high-growth Sunbelt marketsSource
Strong balance sheet and investment-grade credit ratingsSource
Risks
Economic downturns affecting rental demand and occupancy ratesSource
Risks associated with property development and construction delaysSource
Overall investment score · Quality, value, risk and opportunity
28
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
42
Weak
Financial Strength
55
Business Quality / Moat
27
Management
39
Growth Quality
28
Risk / Durability
71
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
30
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
36/100
Building Historical Record
Model Score 36/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for MAA
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can MAA maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is MAA's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is MAA's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What future growth or profitability would be needed to justify MAA's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for MAA
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on MAA.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Geographically diversified portfolio across high-growth Sunbelt markets.
+Strong balance sheet and investment-grade credit ratings.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the REIT - Residential industry.
−Economic downturns affecting rental demand and occupancy rates.
−Risks associated with property development and construction delays.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Weak28/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Fair
50
Debt Cost3.4%
Debt Reduction YoY-8.0%
Debt / Equity0.95x
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Revenue
Poor
14
Revenue YoY0.4%
Revenue CAGR1.4%
Net Margin18.2%
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Asset
Poor
33
Asset Growth YoY1.4%
Liquidation/Share$47.83
Net Assets/MCap0.47x
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Capital
Poor
13
Earnings Yield3.0%
Buyback Yield0.1%
Debt Cost3.4%
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Management
Poor
39
ROIC5.5%
ROE7.4%
ROA3.4%
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Moat
Poor
27
EPS Growth-1.4%
FCF/Share Growth0.7%
Rev/Share Growth3.3%
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Valuation
Poor
10
Intrinsic Value$49.80
Value Reference$29.88
MOS-139.8%
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Buffett
Poor
31
Revenue14
Moat27
Valuation10
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MOS
Poor
0
MOS %-139.8%
Value Reference$29.88
Deep Discount Reference$19.92
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Financial
Weak
46
Interest Coverage3.3x
ROIC5.5%
FCF Yield5.3%
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Master
Weak
40
Financial46
Valuation10
Debt50
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Resilience
Fair
65
Survival Years5.6 yrs
Current Ratio0.16x
FCF Margin32.5%
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Score Changes
4 historical score records available
Previous Score
28
Oct 1, 2026
Change
Unchanged
Current Score
28
Oct 5, 2026
Category Changes
Revenue+0.1
Debt0
Assets+0.3
Capital0
Management0
Moat0
Valuation0
Buffett+0.1
MAA score was unchanged.
Projected Score
Projected Score
29
Projected Change
+0.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 0.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$2.22B
$2.21B
$2.19B
$2.15B
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Cost of Revenue
$1.17B
$1.51B
$1.48B
$1.40B
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Gross Profit
$1.05B
$703.1M
$713.3M
$747.5M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$98.7M
$54.8M
$56.5M
$58.6M
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Operating Expenses
$451.9M
$83.6M
$56.5M
$58.6M
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EBITDA
$1.26B
$1.32B
$1.30B
$1.29B
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Operating Income
$596.5M
$619.4M
$656.8M
$688.9M
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Interest Expense
$199.5M
$185.3M
$168.5M
$149.2M
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Income Before Tax
$419.1M
$460.2M
$544.9M
$570.8M
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Income Tax Expense
$8.9M
$4.6M
$5.2M
$4.7M
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Net Income
$403.2M
$446.9M
$527.5M
$552.8M
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Basic EPS
$3.42
$3.79
$4.49
$4.71
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Basic Shares
116M
117M
117M
117M
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Diluted Shares
116M
117M
117M
117M
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Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Jun 30, 2026Q2FY2026
Revenue
$555.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.04
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+11.7%
Cash Change
-4.9%
Margin Change
+2.3 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
What Weakened
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, net income margin. Pressure indicators included cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 1.0%. EPS increased 13.0%. Cash declined 4.9%. Total debt increased 11.7%. Net income margin improved by 2.3 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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