Mid-Amer Apt Cmntys Inc Stock Price, News & Analysis

MAA (NYSE: MAA) reported its Q4 and full-year 2024 results, showing mixed performance. Q4 earnings per share increased to $1.42 from $1.37 year-over-year, while Core FFO per share decreased to $2.23 from $2.32. The Same Store Portfolio saw a 0.2% revenue decrease and a 2.1% NOI decline in Q4, with average physical occupancy remaining strong at 95.6%.

The company maintained historically low resident turnover at 42.0% and completed strategic transactions, including the acquisition of a 386-unit community in Dallas and the disposition of two properties for combined net proceeds of $85 million. MAA's balance sheet remains strong with a Net Debt/Adjusted EBITDAre ratio of 4.0x and $1.0 billion in available liquidity.

For 2025 guidance, MAA projects Core FFO per share of $8.61-$8.93 and expects Same Store Portfolio revenue growth between -0.35% and 1.15%, with NOI growth forecasted between -2.15% and -0.15%.

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.

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.

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 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.