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 (NYSE: MAA) has disclosed the taxable composition of its 2024 shareholder distributions. The company's common stock distributions totaled $1.47 per share quarterly, with 98.6074% classified as ordinary taxable distribution and 1.3926% as long-term capital gain. For the 8.5% Series I Preferred Stock, quarterly distributions were $1.0625 per share with identical tax classifications.
The company confirms that no portion of 2024 distributions represents a return of capital, and no foreign taxes were incurred. All distributions qualify for Section 199A treatment at 98.6074% and Section 897 Capital Gain at 1.3926%. The tax composition applies uniformly across all dividend distributions made during 2024.
MAA (NYSE: MAA) has announced its upcoming fourth quarter and full-year 2024 earnings release schedule. The company will release its financial results on Wednesday, February 5, 2025, after market close, followed by a conference call on Thursday, February 6, 2025, at 9:00 a.m. Central Time.
The conference call will feature company officers reviewing performance and conducting a Q&A session. Investors can join via phone using the numbers (800) 715-9871 (Domestic) or +1 (646) 307-1963 (International) with Conference ID 5215035. A replay will be available from February 6 through February 20, 2025. Additionally, a live webcast will be accessible on MAA's website investor page, with an audio archive posted after the call.
Mid-America Apartment Communities (MAA) announced that its operating partnership, MAALP, has priced a $350 million offering of senior unsecured notes due March 1, 2035, with a 4.950% interest rate. The notes were priced at 99.170% of the principal amount, with closing expected on December 18, 2024.
The proceeds will be used to repay borrowings under its unsecured commercial paper program and for general corporate purposes, including potential debt repayment and apartment community acquisition, development, and redevelopment. The offering is being managed by a group of financial institutions including Wells Fargo Securities, J.P. Morgan Securities, and Mizuho Securities USA.
MAA (NYSE: MAA) has announced a CEO succession plan, with A. Bradley Hill (48) appointed as President and Chief Executive Officer effective April 1, 2025. Hill will succeed H. Eric Bolton, Jr. (68), who will transition to Executive Chairman and continue as Board Chairman. Hill, who joined MAA in 2010, currently serves as President and Chief Investment Officer, overseeing transactions, development, and property operations.
Hill brings over 21 years of real estate experience and will be nominated to the Board of Directors at the 2025 Annual Meeting. The succession follows Bolton's successful 23-year tenure as CEO, during which MAA achieved sector-leading growth and shareholder performance.
Mid-America Apartment Communities (MAA) has announced a quarterly dividend increase. The board approved a payment of $1.515 per share of common stock, payable on January 31, 2025, to shareholders of record on January 15, 2025. This represents a 3.1% increase in the annualized dividend to $6.06 per share, marking MAA's 15th consecutive year of dividend increases. The company's earnings announcement is expected on February 5, 2025.
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 December 31, 2024, to shareholders recorded as of December 13, 2024.
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.
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