Mid-America Apartment Communities
Market Cap
US$12.7b
Last Updated
2020/03/31 02:24 UTC
Data Sources
Company Financials +
Executive Summary
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
Earnings are forecast to decline by an average of -0.3% per year for the next 3 years
Snowflake Analysis
Established dividend payer with proven track record.
Similar Companies
Share Price & News
How has Mid-America Apartment Communities's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MAA's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
20.1%
MAA
9.7%
US REITs
5.3%
US Market
1 Year Return
-2.6%
MAA
-20.4%
US REITs
-10.7%
US Market
Return vs Industry: MAA exceeded the US REITs industry which returned -20.1% over the past year.
Return vs Market: MAA exceeded the US Market which returned -10.4% over the past year.
Shareholder returns
| MAA | Industry | Market | |
|---|---|---|---|
| 7 Day | 20.1% | 9.7% | 5.3% |
| 30 Day | -17.1% | -21.5% | -13.6% |
| 90 Day | -18.8% | -24.3% | -19.8% |
| 1 Year | 0.5%-2.6% | -17.1%-20.4% | -8.9%-10.7% |
| 3 Year | 16.1%4.5% | -0.9%-13.3% | 15.5%8.0% |
| 5 Year | 65.2%38.3% | 13.3%-10.2% | 35.2%20.4% |
Price Volatility Vs. Market
How volatile is Mid-America Apartment Communities's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
Investors Who Bought Mid-America Apartment Communities (NYSE:MAA) Shares Five Years Ago Are Now Up 80%1 month ago | Simply Wall St
Here's Why I Think Mid-America Apartment Communities (NYSE:MAA) Is An Interesting Stock2 months ago | Simply Wall St
How Much Did Mid-America Apartment Communities, Inc.'s (NYSE:MAA) CEO Pocket Last Year?Valuation
Is Mid-America Apartment Communities undervalued compared to its fair value and its price relative to the market?
31.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MAA ($107.13) is trading below our estimate of fair value ($156.1)
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 (34.9x) compared to the REITs industry average (24.3x).
PE vs Market: MAA is poor value based on its PE Ratio (34.9x) compared to the US market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: MAA's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MAA is overvalued based on its PB Ratio (2x) compared to the US REITs industry average (1.3x).
Next Steps
Future Growth
How is Mid-America Apartment Communities forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
-0.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MAA's earnings are forecast to decline over the next 3 years (-0.3% per year).
Earnings vs Market: MAA's earnings are forecast to decline over the next 3 years (-0.3% per year).
High Growth Earnings: MAA's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MAA's revenue (3.7% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: MAA's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MAA's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Mid-America Apartment Communities performed over the past 5 years?
3.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MAA has a large one-off gain of $93.0M impacting its December 31 2019 financial results.
Growing Profit Margin: MAA's current net profit margins (21.3%) are higher than last year (13.9%).
Past Earnings Growth Analysis
Earnings Trend: MAA's earnings have grown by 3.6% per year over the past 5 years.
Accelerating Growth: MAA's earnings growth over the past year (59.7%) exceeds its 5-year average (3.6% per year).
Earnings vs Industry: MAA earnings growth over the past year (59.7%) exceeded the REITs industry 5%.
Return on Equity
High ROE: MAA's Return on Equity (5.8%) is considered low.
Next Steps
Financial Health
How is Mid-America Apartment Communities's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: MAA has a high level of physical assets or inventory.
Debt Coverage by Assets: MAA's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: MAA's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MAA has a sufficient allowance for bad loans.
Low Risk Liabilities: MAA reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MAA has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MAA has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MAA has an appropriate level of bad loans.
Next Steps
Dividend
What is Mid-America Apartment Communities's current dividend yield, its reliability and sustainability?
3.73%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: MAA's dividend (3.73%) is higher than the bottom 25% of dividend payers in the US market (1.95%).
High Dividend: MAA's dividend (3.73%) is low compared to the top 25% of dividend payers in the US market (5.4%).
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 (57.1%), 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 thoroughly covered by earnings (0.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.3yrs
Average management tenure
CEO
H. Bolton (62yo)
18.42s
Tenure
US$4,660,152
Compensation
Mr. H. Eric Bolton Jr., has been the Chief Executive Officer at Mid-America Apartment Communities, Inc. since October 2001; Chairman since September 2002 and President since December 1996. Mr. Bolton joine ...
CEO Compensation Analysis
Compensation vs Market: H.'s total compensation ($USD4.66M) is below average for companies of similar size in the US market ($USD11.74M).
Compensation vs Earnings: H.'s compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 18.42yrs | US$4.66m | 0.23% $29.8m | |
| Executive VP & CFO | 10.17yrs | US$2.21m | 0.064% $8.1m | |
| Executive VP & COO | 8.25yrs | US$2.40m | 0.063% $8.0m | |
| Executive VP & General Counsel | 6.58yrs | US$2.00m | 0.038% $4.8m | |
| Senior Vice President of Investments | no data | no data | no data | |
| Senior VP & Chief Accounting Officer | 3.17yrs | no data | no data | |
| Senior VP & Chief Information Officer | 3.25yrs | no data | no data | |
| Investor Relations Contact | 12yrs | no data | no data | |
| Senior VP | no data | no data | no data | |
| Executive VP of Development | no data | no data | no data |
8.3yrs
Average Tenure
51yo
Average Age
Experienced Management: MAA's management team is seasoned and experienced (8.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 18.42yrs | US$4.66m | 0.23% $29.8m | |
| Lead Independent Director | no data | US$232.23k | 0.011% $1.4m | |
| Independent Director | 6.42yrs | US$200.98k | 0.030% $3.8m | |
| Independent Director | 6.42yrs | US$201.92k | 0.0067% $858.2k | |
| Independent Director | 6.42yrs | US$210.98k | 0.011% $1.3m | |
| Director | 3.25yrs | US$200.98k | 0.11% $13.5m | |
| Independent Director | 10yrs | US$208.48k | 0.028% $3.6m | |
| Independent Director | 12.58yrs | US$219.73k | 0.0098% $1.3m | |
| Independent Director | 7.83yrs | US$202.23k | 0.0042% $534.8k | |
| Independent Director | 4yrs | US$204.73k | 0.0022% $281.4k |
6.4yrs
Average Tenure
68yo
Average Age
Experienced Board: MAA's board of directors are considered experienced (6.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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 company bio, 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$12.733b
- Market Cap: US$12.242b
- Shares outstanding: 118.34m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MAA | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jan 1994 |
| M2K | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jan 1994 |
| 0K1E | LSE (London Stock Exchange) | Yes | Common Shares | GB | USD | Jan 1994 |
| MAA.PRI | NYSE (New York Stock Exchange) | PFD SER I | US | USD | Dec 2016 | |
| M1AA34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 4 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
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, 2019, MAA had ownership interest in 102,104 apartment units, including communities currently in development, across 16 states and the District of Columbia.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/31 02:24 |
| End of Day Share Price | 2020/03/30 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.