Core Viewpoint - Mid-America Apartment Communities (MAA) has experienced a total return of -9% over the past year, significantly underperforming both the REIT index (VNQ) and the broader equity market [1] Group 1 - MAA's stock performance has been poor, indicating potential challenges in its operational or market environment [1]

Core Insights - Mid-America Apartment Communities (MAA) reported quarterly funds from operations (FFO) of $2.23 per share, slightly exceeding the Zacks Consensus Estimate of $2.22 per share, with a year-over-year comparison showing no change [1] - The company has surpassed consensus FFO estimates three times over the last four quarters, but its revenues of $555.56 million for the quarter ended December 2025 fell short of the Zacks Consensus Estimate by 0.4% [2] - The stock has underperformed the market, losing approximately 4.8% since the beginning of the year, while the S&P 500 has gained 1.1% [3] Financial Performance - The FFO surprise for the latest quarter was +0.59%, while the previous quarter saw a surprise of -0.46% with an actual FFO of $2.16 against an expectation of $2.17 [1][2] - The current consensus FFO estimate for the upcoming quarter is $2.16, with projected revenues of $558.4 million, and for the current fiscal year, the estimate is $8.67 on $2.26 billion in revenues [7] Market Outlook - The estimate revisions trend for Mid-America Apartment Communities was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The REIT and Equity Trust - Residential industry is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8]

Portfolio Overview - As of December 31, 2025, the total multifamily portfolio consists of 102,814 units, with 96,568 in stabilized communities and 660 in development[1]. - The total gross real assets for the multifamily portfolio amounted to $17,116,615,000 as of December 31, 2025[2]. - The company’s stabilized communities achieved a gross real asset value of $16,150,772,000 with a physical occupancy rate of 94.4%[2]. - The total multifamily units in development are 660, contributing to the overall growth strategy of the company[1]. - MAA has a total of 2,660 units in its multifamily development pipeline, with expected development costs of $932 million as of December 31, 2025[9]. Financial Performance - The total operating revenues for the multifamily portfolio increased to $555,556,000 for the three months ended December 31, 2025, compared to $549,832,000 for the same period in 2024, reflecting a growth of 1.4%[3]. - The net operating income (NOI) for the total multifamily portfolio reached $349,820,000, representing a 1.4% increase from $344,899,000 in the previous year[3]. - Same store communities reported operating revenues of $518,521,000, a slight decrease of 0.1% from $518,796,000 in the prior year[3]. - Total revenues for the same store portfolio decreased by 0.1% to $518.5 million in Q4 2025 compared to $518.7 million in Q4 2024[6]. - Net Operating Income (NOI) for Q4 2025 was $1,304,000,000, down 1.4% from $1,320,000,000 in Q4 2024[8]. - Total revenues for the same store portfolio in Q4 2025 were $2,077,568,000, a slight decrease of 0.1% compared to Q4 2024[8]. Occupancy Rates - The average effective rent per unit for the total multifamily communities was $1,690 as of December 31, 2025, with a physical occupancy rate of 94.7%[2]. - The total same store portfolio consists of 96,568 apartment units, with an average physical occupancy of 95.7% for the three months ended December 31, 2025[5]. - The overall average occupancy for the year ended December 31, 2025, was 95.6%, slightly up from 95.5% in 2024[5]. - The company has shown consistent occupancy rates across major markets, with only minor fluctuations year-over-year[5]. - The average physical occupancy for multifamily lease-up communities is currently at 65.7%, with a total of 1,109 units and costs to date amounting to $326.5 million[10]. Rent Trends - The average effective rent per unit in Orlando, FL was $1,976, the highest among the listed markets, with a physical occupancy rate of 96.2%[2]. - Average effective rent per unit decreased by 0.3% to $1,68 in Q4 2025 from $1,69 in Q4 2024[6]. - The average effective rent in Atlanta, GA was $1,78 in Q4 2025, a decrease of 0.5% from $1,79 in Q4 2024[6]. - Average effective rent in Austin, TX decreased by 3.7% to $1,49 in Q4 2025 from $1,56 in Q4 2024[6]. - The overall same store portfolio experienced a 1.7% increase in average effective rent per unit in Q4 2025 compared to Q4 2024[8]. Expenses and Debt - Property operating expenses for same store communities increased by 0.7% to $188,692,000 for the three months ended December 31, 2025[4]. - Total expenses for the same store portfolio decreased by 0.3% to $329.8 million in Q4 2025 compared to $331.0 million in Q4 2024[6]. - The company has a total debt of $5.41 billion, with 87.5% being fixed-rate debt at an effective interest rate of 3.8%[14]. - MAA's total unencumbered assets to total unsecured debt ratio stands at 330.5%, significantly exceeding the required 150%[17]. Future Guidance - MAA expects Core FFO per diluted share and Core AFFO per diluted share to be provided in their 2026 guidance, which is based on current expectations[19]. - Full Year 2026 diluted earnings per share guidance is projected to be between $4.11 and $4.47, with a midpoint of $4.29[20]. - Core FFO per share guidance for 2026 is estimated to range from $8.35 to $8.71, with a midpoint of $8.53[20]. - Property revenue growth for 2026 is projected to be between -0.20% and 1.30%, with a midpoint of 0.55%[20]. - Development investment for 2026 is projected to be between $350 million and $450 million, with a midpoint of $400 million[20]. Acquisitions and Dispositions - The company has acquired 318 apartment units in Kansas City, MO-KS, with the closing date in August 2025[12]. - MAA's multifamily dispositions include 240 units in Columbia, SC, scheduled for closing in March 2025[13]. Corporate Expenses and Dividends - Total corporate expenses are projected to be between $134 million and $138 million, with a midpoint of $136 million[20]. - The dividend per share is set at $1.5150 for Q4 2024 through Q3 2025, with an increase to $1.5300 for Q4 2025[21].

GERMANTOWN, Tenn., Feb. 4, 2026 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced operating results for the three and twelve months ended December 31, 2025. | Three months ended December 31, | Year ended December 31, | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025 | 2024 | 2025 | 2024 | | | | | | | Earnings per common share - diluted | $ | 0.48 | $ | 1.42 | $ | 3.78 | $ | 4.49 | | (1)Funds from operations (FFO) per Share - diluted | $ ...

Core Insights - The current reporting cycle for real estate investment trusts (REITs) is active, with several earnings releases scheduled for this week [1] U.S. Apartment Market in Q4 - The U.S. apartment sector experienced a shift in Q4 2025, with net move-outs returning for the first time in three years, resulting in a loss of approximately 40,400 net units [3] - Annual absorption was just over 365,900 units, the lowest since mid-2024, indicating a return to long-term averages [3] - Approximately 409,500 units were completed in 2025, with 89,400 in Q4, marking a fourth consecutive quarterly decline in completions [4] - Occupancy rates dipped to 94.8% at year-end, and effective asking rents fell by 1.7% in Q4, with annual rents down 0.6%, the largest annual decline since early 2021 [5] - Over 23% of units offered concessions averaging 7%, reflecting landlords' focus on occupancy over rent growth [5] - Market segmentation showed steep rent declines in supply-heavy Sun Belt metros, while coastal and tech-oriented markets saw modest rent gains [6] Earnings Outlook for Residential REITs - AvalonBay Communities is expected to report moderated Q4 results, with a Zacks Consensus Estimate of $768.33 million for revenues, indicating a 3.75% year-over-year increase [7][8] - Essex Property Trust is projected to benefit from its West Coast exposure, with a revenue estimate of $476.57 million, reflecting a 4.86% increase year-over-year [11][12] - Mid-America Apartment Communities anticipates a revenue of $557.79 million, suggesting a 1.45% rise from the previous year [15][16] - Equity Residential's revenue estimate stands at $789.34 million, indicating a 2.94% year-over-year increase, supported by portfolio diversification [17][18] - Camden Property Trust expects revenues of $394.65 million, implying a growth of 2.15% from the year-ago figure [20][21]

Core Insights - A series of class-action lawsuits were filed against RealPage and major apartment owners, alleging collusion to raise rent prices above market levels [3] - Mid-America Apartment Communities (MAA) has agreed to a $53 million settlement related to the antitrust lawsuit involving RealPage's rent-setting software, pending court approval [6] Group 1: Legal Proceedings - The lawsuits were centralized in the U.S. District Court for the Middle District of Tennessee under the case name In Re: RealPage, Inc., Rental Software Antitrust Litigation [3] - MAA will contribute to a settlement fund through two installments of $26.5 million starting no earlier than March 2, 2026 [4] - The firm plans to increase its loss contingency reserve to $62.5 million in its 2025 year-end financials to cover the settlement [6] Group 2: Company Positioning - MAA believes that resolving the matter now will help avoid significant costs and distractions from prolonged litigation, allowing the company to focus on its business objectives [5] - The settlement is seen as a way to reduce legal uncertainty and risk associated with ongoing antitrust litigation, although MAA does not admit fault or liability [6]

Core Insights - Mid-America Apartment Communities, Inc. (MAA) is a significant player in the real estate investment trust (REIT) sector, focusing on apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the U.S. [1] - MAA is an S&P 500 company that specializes in the ownership, management, acquisition, development, and redevelopment of properties [1] Financial Performance - MAA declared a dividend of $1.53 on January 15, 2026, with a record date and payment date set for January 30, 2026 [2] - The company's price-to-earnings (P/E) ratio is approximately 28.36, which is a critical metric for evaluating its valuation [2] - MAA's price-to-sales ratio stands at about 7.16, indicating the market's valuation of its sales [3] - The enterprise value to sales ratio is around 9.51, reflecting the company's total valuation in relation to its sales [3] - The enterprise value to operating cash flow ratio is approximately 19.84, showcasing the company's valuation concerning its cash flow from operations [3] - The earnings yield for MAA is 3.53%, providing insight into the return on investment for shareholders [4] Financial Ratios - MAA's debt-to-equity ratio is 0.89, indicating the level of debt used to finance the company's assets relative to equity [4] - The current ratio is 0.039, which may suggest potential liquidity challenges in meeting short-term obligations [4]

Company Overview - Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust (REIT) focusing on acquiring, developing, and managing apartment communities primarily in the Southeast and Southwest regions of the United States [1] - MAA competes with other REITs such as AvalonBay Communities and Equity Residential [1] Investment Insights - Goldman Sachs set a price target of $139 for MAA, indicating a potential increase of approximately 2.67% from the current stock price of $135.38 [2][6] - Anchor Capital Advisors LLC increased its investment in MAA by 8.9% during the third quarter, now holding 388,449 shares valued at approximately $54.3 million, representing about 1.6% of their portfolio [3][6] - Norges Bank acquired a new position in MAA valued at around $795.9 million during the second quarter, while Daiwa Securities Group Inc. significantly increased its stake, indicating strong institutional confidence in MAA's potential [4][6] Stock Performance - MAA's stock is currently priced at $135.38, reflecting a 0.71% increase, with a 52-week high of $173.38 and a low of $125.75 [5] - The market capitalization of MAA is approximately $15.85 billion, with a trading volume of 757,821 shares [5]

Core Insights - Mid-America Apartment Communities, Inc. (NYSE:MAA) is recognized as one of the 15 Best High Yield Stocks to Buy [1] - Barclays has raised its price target for MAA to $144 from $142 while maintaining an Equal Weight rating, indicating a neutral outlook for the REIT sector in 2026 [2] - The company focuses on improving existing properties rather than selling older buildings, having renovated 5,665 apartments in 2024, resulting in a 7.3% increase in average rent for upgraded units [3] Company Strategy - MAA's strategy of renovating existing properties helps preserve a limited supply of quality apartments and enhances the value of each unit without incurring high transaction costs [4] - The company has maintained its dividend payouts since its introduction in 1994, reflecting a steady approach to shareholder returns [4] - MAA operates as a multifamily-focused REIT that is fully self-managed and self-administered, concentrating on owning and operating apartment communities [5]

Core Insights - The article discusses the best high-yield dividend stocks to buy, highlighting the fluctuating popularity of dividend-paying stocks in relation to market sentiment [1][2][3] Market Trends - Investor demand for dividend yield shifts over time, often influenced by market conditions favoring growth stocks [2] - High-dividend investing has been a traditional strategy, gaining traction during market downturns when investors seek stability [3] Methodology - The list of high-yield stocks was created by screening companies with a market cap of at least $2 billion and selecting those with consistent dividend histories and yields above 4% as of January 18 [6] - Stocks were further ranked based on the number of hedge fund investors, indicating potential market performance [7] Company Highlights - **NNN REIT, Inc. (NYSE:NNN)**: - Dividend yield of 5.63% as of January 18, with a quarterly dividend of $0.60 per share announced for February 2026 [8][10] - The company has increased its annual dividend for at least 36 consecutive years, showcasing a strong dividend track record [10] - Operates a conservative financial model, investing in single-tenant, net-leased retail properties with long-term leases [11][12] - **Enterprise Products Partners L.P. (NYSE:EPD)**: - Dividend yield of 6.69% as of January 18, with a quarterly cash distribution of $0.55 per unit for Q4 2025, marking a 2.8% increase from the previous year [13][14] - The company repurchased approximately $300 million worth of common units in 2025, indicating a commitment to returning cash to investors [15] - Operates in the midstream energy sector, providing services across various energy products [16] - **Mid-America Apartment Communities, Inc. (NYSE:MAA)**: - Dividend yield of 4.46% as of January 18, with a focus on improving existing properties rather than acquiring new ones [17][19] - The company renovated 5,665 apartments in 2024, resulting in a 7.3% increase in rent for upgraded units [19] - Maintains a steady dividend payout since its introduction in 1994, reflecting a disciplined financial approach [20][21]