Mid-America Apartment Communities (MAA) stock
Real Estate · Multi-Family Residential REITs
Mid-America Apartment Communities (MAA) is a Multi-Family Residential REITs company in the Real Estate sector, headquartered in Memphis, Tennessee. As of October 23, 2026, MAA closed at $119.78, a market capitalization of $14.25 billion, the 455th largest company in the S&P 500. Over the last twelve months it generated $2.22 billion in revenue (+1% year over year) and $644.61 million in free cash flow. The stock trades at 35.0x trailing earnings and 36.5x forward earnings.
- 1-year total return: -6.5% (dividends reinvested)
- 5-year return: -6.3% a year
- 52-week range: $113.95 – $144.41
- Gross margin 58.4%, operating margin 25.4%
- Dividend yield: 5.11%, 15 straight years of increases
- FI Handbook report card: C across 10 metrics
- 21st largest of 30 Real Estate stocks in the S&P 500
MAA price chart
1Y price change: -10.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MAA | +3.1% | -9.5% | -6.5% | +2.4% | -6.3% | +6.4% | +11.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1994.
MAA key statistics
- Market cap
- $14.2B
- #455 in S&P 500
- P/E (TTM)
- 35.0x
- Forward P/E
- 36.5x
- EPS (TTM)
- $3.42
- Revenue (TTM)
- $2.2B
- +1%
- Free cash flow
- $644.6M
- Gross margin
- 58.4%
- Operating margin
- 25.4%
- Return on equity
- 7.0%
- Dividend yield
- 5.11%
- 52-week range
- $113.95 – $144.41
- Beta
- 0.73
- Price / sales
- 6.4x
- EV / EBITDA
- 15.9x
- Debt / equity
- 1.02x
- Employees
- 2,507
MAA report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth1.0%D
- Gross margin58.4%B
- Operating margin25.4%B
- FCF margin29.1%A
- Return on equity7.0%D
- Net debt / EBITDA4.6xF
- Forward P/E36.5xD
- PEG ratio7.0xF
- Shareholder yield5.3%A
- Share count change / yr0.5%C
Mid-America Apartment Communiti financials
Revenue went from $497.2M in fiscal 2012 to $2.2B in fiscal 2025, growing 12.2% a year.
| Fiscal year | 2012 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $497.2M | $1.5B | $1.6B | $1.6B | $1.7B | $1.8B | $2.0B | $2.1B | $2.2B | $2.2B |
| Operating income | $130.3M | — | — | — | — | — | — | — | — | — |
| Net income | $105.2M | $328.4M | $222.9M | $353.8M | $255.0M | $533.8M | $637.4M | $552.8M | $527.5M | $446.9M |
| EPS (diluted) | $2.56 | $2.86 | $1.93 | $3.07 | $2.19 | $4.61 | $5.48 | $4.71 | $4.49 | $3.78 |
| Buybacks | $2.0M | — | — | — | — | — | — | $0 | $0 | $27.2M |
| Dividends paid | $107.7M | $395.3M | $419.8M | $437.7M | $457.4M | $470.4M | $539.6M | $651.7M | $686.9M | $709.0M |
| Diluted shares | 42.9M | 113.7M | 113.8M | 114.1M | 114.5M | 115.0M | 115.6M | 116.6M | 116.8M | 117.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MAA?
A reverse DCF asks what growth the current price requires. With an enterprise value of $19.9B and $644.6M of trailing free cash flow, Mid-America Apartment Communiti needs to grow free cash flow about 21.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 31.7x vs. median 37.2x (10th–90th percentile 27.0x–76.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MAA dividend
- Dividend yield
- 5.11%
- Annual dividend
- $6.12
- Years of increases
- 15
- 5-yr dividend growth
- 8.7%
- per year
- Payout ratio
- 178%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MAA earnings
Next report: October 28, 2026. Mid-America Apartment Communiti has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $555.1M (+1% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $0.78 | $1.04 | +33.8% |
| Apr 29, 2026 | $0.84 | $1.06 | +26.4% |
| Feb 4, 2026 | $0.90 | $0.92 | +2.6% |
| Oct 29, 2025 | $0.85 | $0.85 | +0.4% |
| Jul 30, 2025 | $0.85 | $0.88 | +3.7% |
| Apr 30, 2025 | $0.87 | $1.54 | +77.8% |
| Feb 5, 2025 | $1.01 | $1.43 | +41.3% |
| Oct 30, 2024 | $0.92 | $1.06 | +15.4% |
Stocks like MAA
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 VMRK Vivmark Residential | -0.85% | +4% | $48.8B | 24.1x | Compare |
 ESS Essex Property Trust | -1.45% | +10% | $19.2B | 43.3x | Compare |
 UDR UDR | -0.94% | +3% | $13.2B | 22.7x | Compare |
 CPT Camden Property Trust | -0.72% | +1% | $11.8B | 33.7x | Compare |
 WELL Welltower | -0.03% | +37% | $171.0B | 106.4x | Compare |
 PLD Prologis | -0.17% | +4% | $122.9B | 28.1x | Compare |
 EQIX Equinix | +0.25% | +17% | $94.2B | 61.5x | Compare |
 AMT American Tower Corporation (REI | +4.08% | +3% | $88.1B | 26.0x | Compare |
MAA news
- Here's What to Expect From Mid-America Apartment Communities' Next Earnings Report · Oct 17, 2026
- MAA Announces Date of Third Quarter 2026 Earnings Release, Conference Call · Oct 7, 2026
- What Is Drawing Fresh Attention To Mid-America Apartment Communities (MAA)? · Sep 23, 2026
- MAA Announces Quarterly Common Dividend · Sep 22, 2026
- Mid-America Apartment Communities Stock: Is MAA Underperforming the Real Estate Sector? · Sep 22, 2026
MAA stock FAQ
What is MAA's market cap?
Mid-America Apartment Communities's market capitalization is $14.25 billion as of October 23, 2026, ranking 455th in the S&P 500.
What is MAA's P/E ratio?
MAA trades at a trailing price-to-earnings ratio of 35.0x and a forward P/E of 36.5x. Its median P/E over the period we track is 37.2x.
Does MAA pay a dividend?
Yes. Mid-America Apartment Communities pays $6.12 per share a year, a 5.11% yield. It has raised its dividend 15 years in a row. Dividends grew 8.7% a year over the last five years.
How much has MAA stock returned?
Including reinvested dividends, MAA returned -6.5% over one year, -6.3% a year over five years, +6.4% a year over ten years through October 23, 2026.
Is MAA stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Mid-America Apartment Communities must grow free cash flow about 22% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does MAA report earnings?
Mid-America Apartment Communities is expected to report earnings on October 28, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Mid-America Apartment Communities have?
Mid-America Apartment Communities has about 2,507 full-time employees, or $885,034 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology