Welcome to our dedicated page for Mid-America Apartment Communities news (Ticker: MAA), a resource for investors and traders seeking the latest updates and insights on Mid-America Apartment Communities stock.
Mid-America Apartment Communities, Inc. (MAA) is a prominent real estate investment trust (REIT) specializing in the acquisition, development, and management of multifamily apartment communities across the Sunbelt region of the United States. With over 25 years in the multifamily real estate industry, MAA has grown to manage a remarkable portfolio that includes more than 47,000 apartment homes. The company operates in two main segments: Same Store, which encompasses stabilized communities owned for at least 12 months, and Non-Same Store and Other, which includes newly acquired, under development, or significantly impacted properties.
MAA prides itself on its mission to create 'a brighter view' for its residents, employees, and shareholders, a commitment reflected in its daily operations and corporate philosophy. The company is listed on the New York Stock Exchange under the symbol MAA and is a member of the S&P 500. MAA's recent financial performance highlights its robust operational efficiency, with strong leasing activity and low resident move-out rates contributing to stable revenue streams.
In terms of development, MAA has been active, funding substantial projects and expecting to initiate several new developments over the next two years. For example, during the second quarter of 2023, MAA funded $51.3 million for ongoing and planned projects, including predevelopment activities. Additionally, the company completed the lease-up of MAA LoSo in Charlotte, NC, and continues to see a strong performance in its Same Store portfolio, with lease pricing for new and renewing leases showing a positive trend.
MAA also emphasizes sustainability and technology, having installed Smart Home technology in over 93,000 units as of Q4 2023. This initiative includes smart locks, mobile control of lights and thermostats, and leak monitoring, enhancing resident convenience and operational efficiency. Furthermore, MAA's redevelopment programs focus on upgrading amenities and common areas, promising higher rent growth and market competitiveness.
Financially, MAA maintains a solid balance sheet, with significant liquidity and a consistent dividend history, marked by its 120th consecutive quarterly dividend declared in Q4 2023. The company's strategic investments and development projects are supported by a strong capital foundation, ensuring continued growth and shareholder value. MAA's leadership has been proactive in adapting to market conditions, positioning the company to capitalize on emerging opportunities in the multifamily housing sector.
Overall, MAA stands out as a leading multifamily housing provider, dedicated to delivering superior investment performance and enhancing the living experiences of its residents across the Southeast, Southwest, and Mid-Atlantic regions of the United States.
MAA reported Q3 2024 results with earnings per share of $0.98, up from $0.94 in Q3 2023. The company's Same Store Portfolio maintained strong occupancy at 95.7%, while revenue growth was flat year-over-year. Property operating expenses increased by 3.0%, leading to a 1.7% decrease in Net Operating Income. During Q3, MAA acquired a 310-unit community in Orlando and had eight communities under development. The company's balance sheet remains strong with a Net Debt/Adjusted EBITDAre ratio of 3.9x and $805.7 million in available cash and credit capacity. Resident turnover remained historically low at 42.8%, with record-low move-outs to single-family homes.
Mid-America Apartment Communities, Inc. (NYSE: MAA) has reported minor damage to its communities in Florida, Georgia, Tennessee, and the Carolinas due to Hurricanes Helene and Milton. All communities remain operational, with only a number of apartment units taken off-line. Brad Hill, President and Chief Investment Officer, emphasized that ensuring the safety of residents and associates is their highest priority. He expressed relief that residents and associates at impacted communities are safe and that property damage is minimal. MAA's on-site associates and vendor partners prepared communities in advance and responded quickly post-storm, mitigating damage and allowing evacuated residents to return to their homes as soon as possible.
MAA (NYSE: MAA) has announced the date for its third quarter 2024 earnings release and conference call. The company plans to release its Q3 2024 results on Wednesday, October 30, 2024, after market close. A conference call will be held on Thursday, October 31, 2024, at 9:00 a.m. Central Time, where company officers will review the quarter's performance and conduct a Q&A session.
The conference call-in numbers are provided for both domestic and international participants. A replay of the call will be available from October 31, 2024, through November 14, 2024. Additionally, a live webcast of the conference call will be accessible on the 'For Investors' page of MAA's website, with an audio archive posted after the call's conclusion.
Mid-America Apartment Communities, Inc. (NYSE: MAA) has appointed Sheila K. McGrath to its Board of Directors. This appointment, along with the previous election of John Case and Tamara Fischer, is part of MAA's long-term succession plan to address three planned director retirements in 2025. Ms. McGrath will serve on the Compensation Committee and Real Estate Investment Committee as an independent director until the 2025 Annual Meeting of Shareholders.
Ms. McGrath brings extensive knowledge of the REIT sector, with three decades of experience in the industry. She previously served as Senior Managing Director at Evercore ISI and Managing Director at Keefe, Bruyette & Woods. Ms. McGrath also serves on the boards of Alexandria Real Estate Equities, Inc. and Granite Point Mortgage Trust, Inc., and is actively involved in industry organizations such as Nareit.
Mid-America Apartment Communities (MAA) has announced a quarterly dividend of $1.47 per share of common stock. The dividend will be paid on October 31, 2024, to shareholders of record on October 15, 2024. This marks the 123rd consecutive quarterly cash dividend declared by the company. MAA has maintained its commitment to shareholders, never reducing or suspending its quarterly common dividend payment throughout its 30-year history. The board of directors has declared this dividend ahead of MAA's earnings announcement expected on October 30, 2024.
MAA (NYSE: MAA), a leading real estate company, has announced its participation in the BofA Securities 2024 Global Real Estate Conference. The company's senior management will engage in a round table presentation on Wednesday, September 11, 2024, at approximately 2:15 p.m. Eastern Time.
Investors and interested parties can access a live webcast of MAA's presentation through the "Corporate Profile" section of the "For Investors" page on the company's official website, www.maac.com. This event provides an opportunity for stakeholders to gain insights into MAA's strategies and market position within the real estate sector.
Mid-America Apartment Communities (MAA) has declared a quarterly dividend of $1.0625 per share for its 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend will be paid on September 30, 2024, to shareholders of record as of September 13, 2024. This announcement demonstrates MAA's commitment to providing regular returns to its preferred stockholders, maintaining its dividend policy despite potential economic uncertainties. The consistency in dividend payments may be viewed positively by investors seeking stable income from real estate investment trusts (REITs).
MAA (NYSE: MAA) announced it will release its second quarter 2024 results on July 31, 2024, after market close. A conference call is scheduled for August 1, 2024, at 9:00 a.m. Central Time, where company officers will review the quarter's performance and conduct a Q&A session.
The conference call can be accessed via (800) 715-9871 (Domestic) or +1 (646) 307-1963 (International). A replay will be available from August 1 through August 15, 2024, by dialing (800) 770-2030 (Domestic) or +1 (609) 800-9909 (International) using Conference ID 5215035.
A live webcast will be available on the 'For Investors' page of the Company's website at www.maac.com, with an audio archive posted after the call.
Mid-America Apartment Communities (NYSE: MAA) announced that its executive management team, including Chairman and CEO Eric Bolton and President and Chief Investment Officer Brad Hill, will present at the Nareit REIT Week: 2024 Investor Conference. The presentation will take place on June 5, 2024, from 8:45 a.m. to 9:15 a.m. ET and will be webcast live. Interested parties can access the webcast and presentation materials on MAA's investor relations webpage.
Mid-America Apartment Communities (NYSE: MAA) has declared its regular quarterly dividend for the 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend amounts to $1.0625 per outstanding share. Shareholders recorded by June 14, 2024, will receive the payment on July 1, 2024.
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