10x Insights
Loading account…
Companies / Real Estate / Mid-America Apartment Communities
MAA

Mid-America Apartment Communities

Real EstateREITsS&P 500
Ticker MAAGERMANTOWN, TNFiscal year ends DecemberBook value per share $46.67Diluted shares 116.4M

Mid-America Apartment Communities, Inc. (NYSE: MAA) is a self-administered and self-managed real estate investment trust that owns, operates, acquires, renovates and develops apartment communities, primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. Its residents are the principal… From the company’s description.

In fiscal 2025, Mid-America Apartment Communities reported revenue of $2.21B, up 0.8% from fiscal 2024, and net income of $456.57M. Its operating margin was 28.0%, and operations generated $1.08B in cash. Over the twelve months to Jun 30, 2026, revenue was $2.22B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.21BFY2025
+0.8% year over year
Last 12 mo $2.22B
28.04%FY2025
−1.9 percentage points
Last 12 mo 26.88%
$456.57MFY2025
−15.7% year over year
Last 12 mo $410.71M
7.89%FY2025
−1 percentage points
Last 12 mo 7.42%
Cash & financing
$1.08BFY2025
−1.8% year over year
Last 12 mo $1.01B
$717.94MFY2025
−7.5% year over year
Last 12 mo $644.61M
0.95FY2025
Was 0.84× a year earlier
Last 12 mo 1.05
117.1MFY2025
+0.3% year over year
Last 12 mo 116.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Mid-America Apartment Communities does

In the company’s own words

Mid-America Apartment Communities, Inc. (NYSE: MAA) is a self-administered and self-managed real estate investment trust that owns, operates, acquires, renovates and develops apartment communities, primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. Its residents are the principal customers, with rental housing offered across a range of markets, property types and price points; some communities also include retail space. The company conducts substantially all of its business and holds substantially all of its real estate assets through Mid-America Apartments, L.P., its operating partnership, in which it held a 97.5% interest at year-end 2025. It operates as one business and reports a single operating segment. At December 31, 2025, its portfolio comprised 302 communities with 103,083 apartment units across 16 states and the District of Columbia, including properties under development. MAA was formed in 1993 and uses the MAA name for communities such as MAA ONE28, MAA Breakwater and MAA Nixie. Its website is https://www.maac.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
GERMANTOWN, TN
Fiscal year end
December
CIK
912595
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-221.88M$443.76M$1.11B$1.78B$2.44B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Mid-America Apartment Communities — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

578
funds hold it
0 of 35
superinvestors hold it
$5.83B
held by funds, at market
37.2%
of shares held by funds

Largest fund holders · Mid-America Apartment Communities’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.03%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.20%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.35%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Mid-America Apartment Communities and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Mid-America Apartment Communities's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Mid-America Apartment Communities's last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.