Reading the tape
NYSE: MAA
Mid-America Apartment Communities, Inc.
Real Estate · REIT - Residential
Market Cap
$14.96B
52w High
$167.74
52w Low
$120.30
P/E
38.43
Volume
644.04K
Outstanding Shares
116.35M
Price vs Fundamentals
Why The Stock Is Moving
Likely fundamental deteriorationModerate confidence
1Y Price: -20.68%Revenue (TTM): 0.77%FCF (TTM): -18.86%P/FCF: 38th pct
What changed
The stock fell 20.68% over the last year. Revenue grew 0.77% over the trailing twelve months. Operating margin moved from 29.61% to 27.43%. Free cash flow declined 18.86% over the trailing twelve months.
What the market seems to be pricing
The market is reacting to weaker business momentum more than just compressing the valuation multiple. Even if the shares already screen cheap on P/FCF, investors are still discounting lower future earnings power.
What would invalidate this read
Operating margin stands at 27.43%. Free cash flow fell 18.86% — a return toward positive territory would undermine the deterioration thesis. If margins and cash flow stabilize while the stock stays depressed, the gap shifts from fundamental damage toward pure multiple compression.
Company profile
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.
CEOAdrian Bradley Hill
SectorReal Estate
IndustryREIT - Residential
Employees2,532
IPO dateJan 28, 1994
Valuation
Forward P/E—
EV/EBITDA16.38
Enterprise value$21.6B
Price / Book2.63
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth0.81%
Gross margin39.58%▼2.24%vs FY2024
Operating margin27.43%▼6.45%vs FY2024
ROE7.86%▼11.09%vs FY2024
Analyst consensus
RatingBuy
Target price$144.00▲12.01%
18
Buy
18
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 29, 2026
Q3 FY26 · EPS est $0.81 · Revenue est $558.48M
View
Dividends
$6.09/shareQuarterlyDividend Aristocrat · 31yrAdequateMAA pays a dividend with a 4.74% dividend yield, 31 consecutive years of growth, growing at 8.5% annually, covered 1.0× by free cash flow.
Dividend Yield
4.74%
Annual Div / Share
$6.09
5yr CAGR
+8.5%
Doubles every ~8.5yr
FCF Coverage
1.0×
Adequate
Dividend Growth Rate
3yr CAGR
+4.74%
5yr CAGR
+8.5%
10yr CAGR
+6.71%
Dividend Safety
5/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$6.09+2.0%
2025$5.97+4.0%
2024$5.74+8.3%
2023$5.30+25.4%
2022$4.22+4.3%
2021$4.05+3.3%
2020$3.92+4.1%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$47/yr
$4/mo
In 5 yrs
$71/yr+50%
$6/mo
In 10 yrs
$107/yr+126%
$9/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$47/yr $4/mo | $71/yr+50% $6/mo | $107/yr+126% $9/mo |
Yield-on-cost grows from 4.74% → 10.71% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
MAA has raised its dividend for 31 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 8.5% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.