(MAA) Mid-America Apartment - NYSE
Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 15.884m USD | Total Return: -6.7% in 12m
Avg Turnover: 137M
EPS Trend: -59.1%
Qual. Beats: 1
Rev. Trend: 95.8%
Qual. Beats: -1
Warnings
Altman Z'' -0.13 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Mid-America Apartment Communities (MAA) is an S&P 500 real estate investment trust (REIT) specializing in the acquisition, development, and management of multi-family residential properties. The company focuses its portfolio on high-growth markets within the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of late 2025, MAA maintained ownership interests in over 100,000 apartment units across 16 states and the District of Columbia.
The company operates within the Multi-Family Residential REIT sub-industry, a sector that generates primary revenue through monthly rental income and typically benefits from high barriers to homeownership in urban and suburban hubs. Unlike commercial REITs, residential models often experience more stable demand cycles as housing remains a non-discretionary expense for the workforce. MAA utilizes a full-cycle investment strategy, balancing new property development with the redevelopment of existing assets to drive internal growth.
Investors can further evaluate these regional market trends and portfolio metrics on ValueRay. Founded in 1997 and headquartered in Tennessee, MAA remains a significant institutional player in the Sunbelt rental market.
- Sunbelt migration trends drive occupancy rates and organic rental income growth
- Elevated multifamily supply levels in core markets pressure new lease pricing
- Interest rate fluctuations impact debt refinancing costs and acquisition capitalization rates
- Strategic property redevelopment programs enhance portfolio yield and net operating income
- Employment growth in Southeast and Southwest regions sustains demand for luxury apartments
| Net Income: 389.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.28 > 1.0 |
| NWC/Revenue: -75.52% < 20% (prev -38.81%; Δ -36.72% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.03b > Net Income 389.6m |
| Net Debt (5.62b) to EBITDA (1.23b): 4.57 < 3 |
| Current Ratio: 0.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (116.5m) vs 12m ago -0.55% < -2% |
| Gross Margin: 39.58% > 18% (prev 32.12%; Δ 7.47% > 0.5%) |
| Asset Turnover: 18.60% > 50% (prev 18.60%; Δ -0.00% > 0%) |
| Interest Coverage Ratio: 3.12 > 6 (EBIT TTM 596.6m / Interest Expense TTM 191.5m) |
| A: -0.14 (Total Current Assets 84.9m - Total Current Liabilities 1.76b) / Total Assets 12.0b |
| B: -0.15 (Retained Earnings -1.79b / Total Assets 12.0b) |
| C: 0.05 (EBIT TTM 596.6m / Avg Total Assets 11.9b) |
| D: 0.88 (Book Value of Equity 5.56b / Total Liabilities 6.29b) |
| Altman-Z'' = -0.13 = B |
As of June 21, 2026, the stock is trading at USD 132.50 with a total of 1,686,200 shares traded.
Over the past week, the price has changed by -4.06%,
over one month by +3.14%,
over three months by +7.72% and
over the past year by -6.71%.
Mid-America Apartment has received a consensus analysts rating of 3.69. Therefore, it is recommended to hold MAA.
- StrongBuy: 8
- Buy: 6
- Hold: 10
- Sell: 0
- StrongSell: 2
| Analysts Target Price | 141.2 | 6.6% |
P/E Trailing = 40.3364
P/E Forward = 33.8983
P/S = 7.1756
P/B = 2.7869
P/EG = 7.0257
Revenue TTM = 2.21b USD
EBIT TTM = 596.6m USD
EBITDA TTM = 1.23b USD
Long Term Debt = 4.93b USD (from longTermDebt, last quarter)
Short Term Debt = 1.76b USD (from shortTermDebt, last quarter)
Debt = 5.70b USD (from shortLongTermDebtTotal, last quarter) + Leases 24.3m
Net Debt = 5.62b USD (calculated: Debt 5.70b - CCE 84.9m)
Enterprise Value = 21.5b USD (15.9b + Debt 5.70b - CCE 84.9m)
Interest Coverage Ratio = 3.12 (Ebit TTM 596.6m / Interest Expense TTM 191.5m)
EV/FCF = 35.25x (Enterprise Value 21.5b / FCF TTM 610.0m)
FCF Yield = 2.84% (FCF TTM 610.0m / Enterprise Value 21.5b)
FCF Margin = 27.56% (FCF TTM 610.0m / Revenue TTM 2.21b)
Net Margin = 17.60% (Net Income TTM 389.6m / Revenue TTM 2.21b)
Gross Margin = 39.58% ((Revenue TTM 2.21b - Cost of Revenue TTM 1.34b) / Revenue TTM)
Gross Margin QoQ = 62.87% (prev 36.07%)
Tobins Q-Ratio = 1.79 (Enterprise Value 21.5b / Total Assets 12.0b)
Interest Expense / Debt = 3.36% (Interest Expense 191.5m / Debt 5.70b)
Taxrate = 2.24% (9.08m / 405.1m)
NOPAT = 583.2m (EBIT 596.6m * (1 - 2.24%))
Current Ratio = 0.05 (Total Current Assets 84.9m / Total Current Liabilities 1.76b)
Debt / Equity = 1.03 (Debt 5.70b / totalStockholderEquity, last quarter 5.56b)
Debt / EBITDA = 4.57 (Net Debt 5.62b / EBITDA 1.23b)
Debt / FCF = 9.21 (Net Debt 5.62b / FCF TTM 610.0m)
Total Stockholder Equity = 5.75b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.27% (Net Income 389.6m / Total Assets 12.0b)
RoE = 6.78% (Net Income TTM 389.6m / Total Stockholder Equity 5.75b)
RoCE = 5.59% (EBIT 596.6m / Capital Employed (Equity 5.75b + L.T.Debt 4.93b))
RoIC = 4.90% (NOPAT 583.2m / Invested Capital 11.9b)
WACC = 4.99% (E(15.9b)/V(21.6b) * Re(5.60%) + D(5.70b)/V(21.6b) * Rd(3.36%) * (1-Tc(0.02)))
Discount Rate = 5.60% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 49.44 | Cagr: -0.11%
[DCF] Terminal Value 73.10% ; FCFF base≈666.7m ; Y1≈584.6m ; Y5≈472.4m
[DCF] Fair Price = 16.86 (EV 7.58b - Net Debt 5.62b = Equity 1.96b / Shares 116.4m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -59.07 | EPS CAGR: -6.65% | SUE: 0.90 | # QB: 1
Revenue Correlation: 95.77 | Revenue CAGR: 1.58% | SUE: -0.93 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.81 | Chg30d=+0.04% | Revisions=-43% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.83 | Chg30d=+2.90% | Revisions=-43% | Analysts=6
EPS current Year (2026-12-31): EPS=3.39 | Chg30d=-0.88% | Revisions=+43% | GrowthEPS=-10.3% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=3.16 | Chg30d=-4.21% | Revisions=-40% | GrowthEPS=-6.7% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: -43%