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Mid-America Apartment Communities Inc
NYSE:MAA

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Mid-America Apartment Communities Inc Logo
Mid-America Apartment Communities Inc
NYSE:MAA
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Price: 129.79 USD -0.42% Market Closed
Updated: Mar 19, 2024

Intrinsic Value

Mid-America Apartment Communities, Inc. is a real estate investment trust. [ Read More ]

The intrinsic value of one MAA stock under the Base Case scenario is 135.68 USD. Compared to the current market price of 129.79 USD, Mid-America Apartment Communities Inc is Undervalued by 4%.

Key Points:
MAA Intrinsic Value
Base Case
135.68 USD
Undervaluation 4%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Mid-America Apartment Communities Inc

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Fundamental Analysis

Real Estate Earnings Call Insight
2023-Q4 Earnings Call

Real Estate Earnings Call Insight

The company reported a mixed quarter with blended lease-over-lease pricing down by 1.6%, new lease rates declining 7%, and renewal rates up 4.8%. The quarter's revenue growth was 2.1%, supported by strong collections and an average occupancy of 95.5%. The core FFO for the quarter was $2.32 per share, which is a year-over-year increase of approximately 8%, and the projected core FFO for 2024 is $8.68 to $9.08 per share, with a midpoint of $8.88. The same-store revenue growth for 2024 is forecasted at a modest 0.9%, with effective rent growth expected to be the same. However, same-store operating expenses are predicted to increase by about 4.85%, leading to a projected 1.3% decline in same-store NOI.

Financials

Balance Sheet Decomposition
Mid-America Apartment Communities Inc

Current Assets 115.2m
Cash & Short-Term Investments 41.3m
Other Current Assets 73.9m
Non-Current Assets 11.4B
Long-Term Investments 88.5m
PP&E 11.1B
Other Non-Current Assets 170.3m
Current Liabilities 645.2m
Accrued Liabilities 645.2m
Non-Current Liabilities 4.7B
Long-Term Debt 4.5B
Other Non-Current Liabilities 185.9m
Efficiency

Earnings Waterfall
Mid-America Apartment Communities Inc

Revenue
2.1B USD
Cost of Revenue
-835.9m USD
Gross Profit
1.3B USD
Operating Expenses
-623.6m USD
Operating Income
688.9m USD
Other Expenses
-140m USD
Net Income
548.9m USD

Free Cash Flow Analysis
Mid-America Apartment Communities Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
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Fundamental Scores

MAA Profitability Score
Profitability Due Diligence

Mid-America Apartment Communities Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

60/100
Profitability
Score

Mid-America Apartment Communities Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.

MAA Solvency Score
Solvency Due Diligence

Mid-America Apartment Communities Inc's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Average Altman Z-Score
Short-Term Solvency
32/100
Solvency
Score

Mid-America Apartment Communities Inc's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

MAA Price Targets Summary
Mid-America Apartment Communities Inc

Wall Street analysts forecast MAA stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for MAA is 140.64 USD with a low forecast of 125.24 USD and a high forecast of 159.6 USD.

Lowest
Price Target
125.24 USD
4% Downside
Average
Price Target
140.64 USD
8% Upside
Highest
Price Target
159.6 USD
23% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

MAA Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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Shareholder Return

MAA Price
Mid-America Apartment Communities Inc

1M 1M
+3%
6M 6M
-5%
1Y 1Y
-11%
3Y 3Y
-2%
5Y 5Y
+40%
10Y 10Y
+171%
Annual Price Range
129.79
52w Low
117.51
52w High
156.18
Price Metrics
Average Annual Return 21.03%
Standard Deviation of Annual Returns 51.45%
Max Drawdown -46%
Shares Statistics
Market Capitalization 15.3B USD
Shares Outstanding 119 840 000
Percentage of Shares Shorted 3.05%

MAA Return Decomposition
Main factors of price return

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MAA News

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Company Profile

Mid-America Apartment Communities Inc Logo
Mid-America Apartment Communities Inc

Country

United States of America

Industry

Real Estate

Market Cap

15.3B USD

Dividend Yield

4.53%

Description

Mid-America Apartment Communities, Inc. is a real estate investment trust. The company is headquartered in Memphis, Tennessee and currently employs 2,429 full-time employees. The firm owns, operates, acquires, and selectively develops apartment communities primarily located in the Southeast, Southwest and Mid-Atlantic regions of the United States. The company operates through two segments: Same Store, and Non-Same Store and Other. Its Same Store segment represents those apartment communities that have been owned and stabilized for at least 12 months. Its Non-Same Store and Other segment includes recently acquired communities, communities being developed or in lease-up, communities identified for disposition, and others. Its Non-Same Store and Other segment also includes non-multifamily activities. The firm owns and operates approximately 290 apartment communities through the Mid-America Apartments, L.P. (Operating Partnership) and its subsidiaries.

Contact

TENNESSEE
Memphis
Ste 340, 6584 Poplar Ave
+19016826600.0
https://www.maac.com/

IPO

1994-01-28

Employees

2 429

Officers

Chairman & CEO
Mr. H. Eric Bolton Jr.
President & Chief Investment Officer
Mr. Adrian Bradley Hill
Executive VP & CFO
Mr. Albert M. Campbell III
Executive VP, Chief Administrative Officer & General Counsel
Mr. Robert J. DelPriore Esq., J.D.
Executive VP & Principal Accounting Officer
Mr. A. Clay Holder
Executive VP, Chief Technology & Innovation Officer
Mr. Joseph P. Fracchia CPA
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Investor Relations Contact
Ms. Jennifer Patrick
Senior VP, Chief Ethics & Compliance Officer and Corporate Secretary
Ms. Leslie Bratten Cantrell Wolfgang
Senior Vice President of Revenue, Sales & Marketing
Mr. Warren Davis
Executive VP & Chief Human Resources Officer
Ms. Melanie M. Carpenter
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See Also

Discover More
What is the Intrinsic Value of one MAA stock?

The intrinsic value of one MAA stock under the Base Case scenario is 135.68 USD.

Is MAA stock undervalued or overvalued?

Compared to the current market price of 129.79 USD, Mid-America Apartment Communities Inc is Undervalued by 4%.