| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 1/6 |
| Dividends | 5/6 |
MAA Stock Overview
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
Rewards
Risk Analysis
Mid-America Apartment Communities Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$202.89 |
| 52 Week High | US$231.63 |
| 52 Week Low | US$129.83 |
| Beta | 0.70 |
| 1 Month Change | -8.69% |
| 3 Month Change | 0.53% |
| 1 Year Change | 51.21% |
| 3 Year Change | 100.74% |
| 5 Year Change | 111.94% |
| Change since IPO | 838.22% |
Recent News & Updates
With EPS Growth And More, Mid-America Apartment Communities (NYSE:MAA) Is Interesting
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...
Mid-America: One Of The Best REITs, But A 'Hold'
Quality first, valuation second - that's my approach when investing. This doesn't mean I invest in quality without valuation, but it means that quality is a requirement for investing. In few companies is this quality as apparent as the one we're going to take a look at today. Mid-America is one of the best REITs in existence, and while my position currently is very small, I mean to load up more in the next downturn.
Shareholder Returns
| MAA | US REITs | US Market | |
|---|---|---|---|
| 7D | -5.7% | -3.8% | -6.1% |
| 1Y | 51.2% | 24.0% | 4.2% |
Return vs Industry: MAA exceeded the US REITs industry which returned 24.7% over the past year.
Return vs Market: MAA exceeded the US Market which returned 6.6% over the past year.
Price Volatility
| MAA volatility | |
|---|---|
| MAA Average Weekly Movement | 3.2% |
| REITs Industry Average Movement | 4.1% |
| Market Average Movement | 6.7% |
| 10% most volatile stocks in US Market | 15.6% |
| 10% least volatile stocks in US Market | 2.4% |
Stable Share Price: MAA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: MAA's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1977 | 2,530 | H. Bolton | https://www.maac.com |
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia.
Mid-America Apartment Communities Fundamentals Summary
| MAA fundamental statistics | |
|---|---|
| Market Cap | US$24.05b |
| Earnings (TTM) | US$427.34m |
| Revenue (TTM) | US$1.74b |
56.3x
P/E Ratio13.8x
P/S RatioIs MAA overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MAA income statement (TTM) | |
|---|---|
| Revenue | US$1.74b |
| Cost of Revenue | US$717.84m |
| Gross Profit | US$1.02b |
| Expenses | US$592.99m |
| Earnings | US$427.34m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Feb 02, 2022
| Earnings per share (EPS) | 3.60 |
| Gross Margin | 58.70% |
| Net Profit Margin | 24.59% |
| Debt/Equity Ratio | 74.6% |
How did MAA perform over the long term?
See historical performance and comparisonDividends
2.1%
Current Dividend Yield57%
Payout RatioValuation
Is Mid-America Apartment Communities undervalued compared to its fair value and its price relative to the market?
26.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MAA ($202.89) is trading below our estimate of fair value ($275.29)
Significantly Below Fair Value: MAA is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MAA is poor value based on its PE Ratio (56.3x) compared to the US REITs industry average (44.2x).
PE vs Market: MAA is poor value based on its PE Ratio (56.3x) compared to the US market (16.7x).
Price to Earnings Growth Ratio
PEG Ratio: MAA is poor value based on its PEG Ratio (7.7x)
Price to Book Ratio
PB vs Industry: MAA is overvalued based on its PB Ratio (4.1x) compared to the US REITs industry average (2x).
Future Growth
How is Mid-America Apartment Communities forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
7.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MAA's forecast earnings growth (7.3% per year) is above the savings rate (2%).
Earnings vs Market: MAA's earnings (7.3% per year) are forecast to grow slower than the US market (13.1% per year).
High Growth Earnings: MAA's earnings are forecast to grow, but not significantly.
Revenue vs Market: MAA's revenue (6.4% per year) is forecast to grow slower than the US market (9.2% per year).
High Growth Revenue: MAA's revenue (6.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MAA's Return on Equity is forecast to be low in 3 years time (7.2%).
Past Performance
How has Mid-America Apartment Communities performed over the past 5 years?
9.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MAA has a large one-off gain of $119.4M impacting its September 30 2021 financial results.
Growing Profit Margin: MAA's current net profit margins (24.6%) are higher than last year (19%).
Past Earnings Growth Analysis
Earnings Trend: MAA's earnings have grown by 9.2% per year over the past 5 years.
Accelerating Growth: MAA's earnings growth over the past year (34.8%) exceeds its 5-year average (9.2% per year).
Earnings vs Industry: MAA earnings growth over the past year (34.8%) exceeded the REITs industry 30.5%.
Return on Equity
High ROE: MAA's Return on Equity (7.3%) is considered low.
Financial Health
How is Mid-America Apartment Communities's financial position?
Financial Position Analysis
Short Term Liabilities: MAA's short term assets ($134.5M) do not cover its short term liabilities ($593.6M).
Long Term Liabilities: MAA's short term assets ($134.5M) do not cover its long term liabilities ($4.6B).
Debt to Equity History and Analysis
Debt Level: MAA's net debt to equity ratio (74.1%) is considered high.
Reducing Debt: MAA's debt to equity ratio has reduced from 108.4% to 74.6% over the past 5 years.
Debt Coverage: MAA's debt is not well covered by operating cash flow (18.9%).
Interest Coverage: MAA's interest payments on its debt are not well covered by EBIT (2.8x coverage).
Balance Sheet
Dividend
What is Mid-America Apartment Communities's current dividend yield, its reliability and sustainability?
2.14%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MAA's dividend (2.14%) is higher than the bottom 25% of dividend payers in the US market (1.36%).
High Dividend: MAA's dividend (2.14%) is low compared to the top 25% of dividend payers in the US market (3.55%).
Stability and Growth of Payments
Stable Dividend: MAA's dividends per share have been stable in the past 10 years.
Growing Dividend: MAA's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (56.7%), MAA's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MAA's dividends in 3 years are forecast to be covered by earnings (55.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.2yrs
Average management tenure
CEO
H. Bolton (64 yo)
25.08yrs
Tenure
US$4,725,312
Compensation
Mr. H. Eric Bolton, Jr., has been the Chief Executive Officer at Mid-America Apartment Communities, Inc. since October 2001; Chairman since September 2002 and President since December 1996. Mr. Bolton join...
CEO Compensation Analysis
Compensation vs Market: H.'s total compensation ($USD4.73M) is below average for companies of similar size in the US market ($USD11.42M).
Compensation vs Earnings: H.'s compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: MAA's management team is seasoned and experienced (7.2 years average tenure).
Board Members
Experienced Board: MAA's board of directors are considered experienced (8.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MAA insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Mid-America Apartment Communities, Inc.'s employee growth, exchange listings and data sources
Key Information
- Name: Mid-America Apartment Communities, Inc.
- Ticker: MAA
- Exchange: NYSE
- Founded: 1977
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: US$24.054b
- Market Cap: US$23.360b
- Shares outstanding: 118.54m
- Website: https://www.maac.com
Number of Employees
Location
- Mid-America Apartment Communities, Inc.
- 6815 Poplar Avenue
- Suite 500
- Germantown
- Tennessee
- 38138
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/21 23:37 |
| End of Day Share Price | 2022/01/21 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.