Mid-America Apartment Communities(NYSE) MAA

MAA helps people find and rent high-quality apartments across the southern United States. The company owns thousands of homes in growing regions like the Southeast and Southwest. It manages everything from building new communities to fixing up older apartments for modern living.

The MAA Portfolio

• Consolidated Multifamily Communities: Operating 301 apartment communities with 102,814 units that are fully owned and managed by the company.
• Unconsolidated Communities: Managing one apartment community containing 269 units through a partnership with other investors.
• Development Projects: Building eight new apartment communities as of December 31, 2025, to add more housing in busy markets.
• Retail Components: Operating retail spaces within 35 of the company's apartment communities to provide local services to residents.

Recent Growth Moves

• Acquired MAA ONE28, a 318-unit apartment community in Kansas City, in August 2025.
• Purchased land for new projects including MAA Point Hope in Charleston and MAA One Scottsdale in Phoenix during 2025.
• Completed the construction of MAA Nixie in the Raleigh/Durham market during the third quarter of 2025.
• Expanded the Smart Home technology program to over 96,000 units by December 31, 2025, to offer residents mobile control of locks and lights.

What Makes MAA Different

MAA focuses on geographic diversity by spreading its properties across 39 different markets to avoid relying on a single city's economy. The company uses an internal development team to build its own properties, which helps control costs and design quality.

Performance by the Numbers

• Revenue reached $555.6 million in Q4 2025, up 1% from the previous year.
• Gross profit grew to $200.4 million in Q4 2025, a 13.5% increase year-over-year.
• Net income was $57.6 million in Q4 2025, down 65.5% from Q4 2024.
• Operating cash flow rose to $261.7 million in Q4 2025, up 9.4% from the same period in 2024.
• Free cash flow hit $158.6 million in Q4 2025, representing a 3.9% increase year-over-year.

The Evolution of MAA

MAA has transformed from a regional property owner into a large-scale manager that uses technology and internal development to grow. By balancing its portfolio across different price points and locations, the company maintains steady operations through changing economic cycles.