MID AMERICA APARTMENT COMMUNITIES INC.
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MAA FY 2025 request
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/api/financials?ticker=MAA&year=2025&quarter=4&full_year_mode=true
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 2,209,126 | 2,191,015 | +0.8% |
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| Non-Same Store and Other | 131,964 | 110,988 | +18.9% |
| Same Store [Member] | 2,077,162 | 2,080,027 | -0.1% |
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| Limited Partner [Member] | 2,209,126 | 2,191,015 | +0.8% |
| Operating Costs And Expenses Excluding Depreciation And Amortization And Real Estate Taxes And Insurance | 518,860 | 502,735 | +3.2% |
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| Limited Partner [Member] | 518,860 | 502,735 | +3.2% |
| Real Estate Taxes And Insurance | 318,947 | 317,357 | +0.5% |
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| Limited Partner [Member] | 318,947 | 317,357 | +0.5% |
| Depreciation And Amortization | 622,295 | 585,616 | +6.3% |
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| Limited Partner [Member] | 622,295 | 585,616 | +6.3% |
| Property Operating Expenses | 1,460,102 | 1,405,708 | +3.9% |
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| Limited Partner [Member] | 1,460,102 | 1,405,708 | +3.9% |
| Other Cost And Expense Operating | 74,779 | 72,040 | +3.8% |
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| Limited Partner [Member] | 74,779 | 72,040 | +3.8% |
| General & Administrative | 54,807 | 56,516 | -3.0% |
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| Limited Partner [Member] | 54,807 | 56,516 | -3.0% |
| Interest Expense | 185,257 | 168,544 | +9.9% |
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| Limited Partner [Member] | 185,257 | 168,544 | +9.9% |
| Gain Loss On Sale Of Property Plant Equipment | -72,066 | -55,003 | -31.0% |
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| Limited Partner [Member] | -72,066 | -55,003 | -31.0% |
| Other Non-Operating Income (Expense) | 47,161 | -1,655 | +2949.6% |
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| Limited Partner [Member] | 47,161 | -1,655 | +2949.6% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 459,086 | 544,865 | -15.7% |
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| Limited Partner [Member] | 459,086 | 544,865 | -15.7% |
| Income Tax Expense (Benefit) | -4,595 | -5,240 | +12.3% |
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| Limited Partner [Member] | -4,595 | -5,240 | +12.3% |
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| Texas Based Margin [Member] | -4.6 | -5.2 | +11.5% |
| TRS [Member] | -1.5 | -1.8 | +16.7% |
| Income Loss From Continuing Operations Before Equity Method Investments | 454,491 | 539,625 | -15.8% |
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| Limited Partner [Member] | 454,491 | 539,625 | -15.8% |
| Income Loss From Equity Method Investments | 2,075 | 1,951 | +6.4% |
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| Limited Partner [Member] | 2,075 | 1,951 | +6.4% |
| Net Income | 456,566 | 541,576 | -15.7% |
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| Accumulated Distributions In Excess Of Net Income | 446,909 | 527,543 | -15.3% |
| Noncontrolling Interests Operating Partnership [Member] | 11,384 | 14,033 | -18.9% |
| Noncontrolling Interests-Consolidated Real Estate Entities [Member] | -1,727 | — | — |
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| Limited Partner [Member] | 456,566 | 541,576 | -15.7% |
| Net Income Loss Attributable To Noncontrolling Interest | 9,657 | 14,033 | -31.2% |
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| Limited Partner [Member] | -1,727 | — | — |
| Net Income | 446,909 | 527,543 | -15.3% |
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| Limited Partner [Member] | 458,293 | 541,576 | -15.4% |
| Preferred Stock Dividends Income Statement Impact | 3,688 | 3,688 | 0.0% |
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| Limited Partner [Member] | 3,688 | 3,688 | 0.0% |
| Net Income Loss Available To Common Stockholders Basic | 443,221 | 523,855 | -15.4% |
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| Limited Partner [Member] | 454,605 | 537,888 | -15.5% |
| EPS (Basic) | 3.79 | 4.49 | -15.6% |
| Basic Earnings Per Unit (FY) | — | — | — |
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| Limited Partner [Member] | 3.79 | 4.49 | -15.6% |
| EPS (Diluted) | 3.78 | 4.49 | -15.8% |
| Diluted Earnings Per Unit (FY) | — | — | — |
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| Limited Partner [Member] | 3.78 | 4.49 | -15.8% |
| Operating Expenses | 837,807 | 820,092 | +2.2% |
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| Non-Same Store and Other | 64,909 | 62,251 | +4.3% |
| Same Store [Member] | 772,898 | 757,841 | +2.0% |
| Comprehensive Income | 448,549 | 529,367 | -15.3% |
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| Limited Partner [Member] | 459,982 | 543,454 | -15.4% |
| Wtd Avg Shares (Basic) | 116,954 | 116,776 | +0.2% |
| Wtd Avg Shares (Diluted) | 117,149 | 116,776 | +0.3% |
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| Limited Partner [Member] | 120,133 | 119,875 | +0.2% |
| Revenue From Contract With Customer Including Assessed Tax (FY) | — | — | — |
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| Non-Same Store and Other | 130,464 | 108,952 | +19.7% |
| Same Store [Member] | 2,062,887 | 2,067,665 | -0.2% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 60,258 | 43,018 | +40.1% |
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| Limited Partner [Member] | 60,258 | 43,018 | +40.1% |
| Non-Current Assets | |||
| Total Assets | 11,975,383 | 11,812,369 | +1.4% |
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| Real Estate · Limited Partner [Member] | 386.4 | 432.2 | -10.6% |
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| Corporate | 188,528 | 157,632 | +19.6% |
| Non-Same Store and Other | 2,180,086 | 1,814,597 | +20.1% |
| Same Store [Member] | 9,606,769 | 9,840,140 | -2.4% |
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| Limited Partner [Member] | 11,975,383 | 11,812,369 | +1.4% |
| Operating Lease Right-of-Use Assets | 38 | 40.5 | -6.2% |
| Other Assets | |||
| Land | 2,129,401 | 2,096,912 | +1.5% |
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| Limited Partner [Member] | 2,129,401 | 2,096,912 | +1.5% |
| Buildings Improvements And Other | 14,852,509 | 14,160,799 | +4.9% |
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| Limited Partner [Member] | 14,852,509 | 14,160,799 | +4.9% |
| Construction In Progress Gross | 426,759 | 470,282 | -9.3% |
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| Limited Partner [Member] | 426,759 | 470,282 | -9.3% |
| Limited Partner [Member] · Costs Incurred To Date [Member] | 625.6 | — | — |
| Real Estate Investment Property At Cost | 17,408,669 | 16,727,993 | +4.1% |
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| Limited Partner [Member] | 17,408,669 | 16,727,993 | +4.1% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Leases Acquired In Place | 0.3 | 1 | -70.0% |
| Real Estate Investment Property Accumulated Depreciation | -5,914,017 | -5,327,584 | -11.0% |
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| Limited Partner [Member] | -5,914,017 | -5,327,584 | -11.0% |
| Real Estate Investment Property Net | 11,494,652 | 11,400,409 | +0.8% |
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| Limited Partner [Member] | 11,494,652 | 11,400,409 | +0.8% |
| Land Available For Development | 73,359 | 73,359 | 0.0% |
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| Limited Partner [Member] | 73,359 | 73,359 | 0.0% |
| Investments In Affiliates Subsidiaries Associates And Joint Ventures | 41,313 | 41,650 | -0.8% |
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| Limited Partner [Member] | 41,313 | 41,650 | -0.8% |
| Real Estate Assets Net | 11,609,324 | 11,515,418 | +0.8% |
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| Limited Partner [Member] | 11,609,324 | 11,515,418 | +0.8% |
| Restricted Cash | 13,717 | 13,743 | -0.2% |
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| Limited Partner [Member] | 13,717 | 13,743 | -0.2% |
| Other Assets | 245,683 | 232,426 | +5.7% |
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| Limited Partner [Member] | 245,683 | 232,426 | +5.7% |
| Assets Held For Sale Not Part Of Disposal Group | 46,401 | 7,764 | +497.6% |
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| Limited Partner [Member] | 46,401 | 7,764 | +497.6% |
| Current Liabilities | |||
| Other Liabilities Current (Q) | — | — | — |
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| Limited Partner [Member] · Related Party | 19 | 19 | 0.0% |
| Accrued Liabilities (Q) | — | — | — |
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| Accrued Liabilities | 28,892 | 27,564 | +4.8% |
| Non-Current Liabilities | |||
| Accrued Liabilities Current And Noncurrent | 730,366 | 683,748 | +6.8% |
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| Limited Partner [Member] | 730,366 | 683,748 | +6.8% |
| Total Liabilities | 6,135,738 | 5,664,705 | +8.3% |
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| Real Estate · Limited Partner [Member] | 16.7 | 27.1 | -38.4% |
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| Limited Partner [Member] | 6,135,757 | 5,664,724 | +8.3% |
| Long-Term Debt (Q) | — | — | — |
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| Maturities [Member] | 5,439,293 | — | — |
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| Encumbrance1 | 191.3 | — | — |
| Encumbrance2 | 172 | — | — |
| Other Liabilities | |||
| Unsecured Debt | 5,044,979 | 4,620,690 | +9.2% |
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| Unsecured Senior Notes Due September 2026 [Member] | 300 | — | — |
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| Limited Partner [Member] | 5,044,979 | 4,620,690 | +9.2% |
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| Commercial Paper | 676 | — | — |
| Secured Debt | 360,393 | 360,267 | 0.0% |
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| Limited Partner [Member] | 360,393 | 360,267 | 0.0% |
| Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests | 20,402 | 22,230 | -8.2% |
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| Limited Partner [Member] | 20,402 | 22,230 | -8.2% |
| Stockholders' Equity | |||
| Preferred Stock Value Outstanding | 9 | 9 | 0.0% |
| Common Stock Value Outstanding | 1,166 | 1,166 | 0.0% |
| Additional Paid-In Capital | 7,401,962 | 7,417,453 | -0.2% |
| Accumulated Distributions In Excess Of Net Income | -1,734,986 | -1,469,557 | -18.1% |
| Accumulated Other Comprehensive Income | -5,300 | -6,940 | +23.6% |
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| Limited Partner [Member] | -5,375 | -7,064 | +23.9% |
| Total Stockholders' Equity | 5,662,851 | 5,942,131 | -4.7% |
| Minority Interest In Operating Partnerships | 141,503 | 155,409 | -8.9% |
| Parent L P Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 5,804,354 | 6,097,540 | -4.8% |
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| Limited Partner [Member] | 5,804,335 | 6,097,521 | -4.8% |
| Minority Interest In Joint Ventures | 14,889 | 27,894 | -46.6% |
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| Limited Partner [Member] | 14,889 | 27,894 | -46.6% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 5,819,243 | 6,125,434 | -5.0% |
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| Accumulated Distributions In Excess Of Net Income | -1,734,986 | -1,469,557 | -18.1% |
| Accumulated Other Comprehensive Income | -5,300 | -6,940 | +23.6% |
| Additional Paid In Capital | 7,401,962 | 7,417,453 | -0.2% |
| Common Stock | 1,166 | 1,166 | 0.0% |
| Noncontrolling Interests Operating Partnership [Member] | 141,503 | 155,409 | -8.9% |
| Noncontrolling Interests-Consolidated Real Estate Entities [Member] | 14,889 | 27,894 | -46.6% |
| Preferred Stock | 9 | 9 | 0.0% |
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| Limited Partner [Member] | 5,819,224 | 6,125,415 | -5.0% |
| Redeemable Common Stock [Member] | 20,402 | 22,230 | -8.2% |
| Total Liabilities & Equity | 11,975,383 | 11,812,369 | +1.4% |
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| Limited Partner [Member] | 11,975,383 | 11,812,369 | +1.4% |
| Preferred Units Preferred Partners Capital Accounts (Q) | — | — | — |
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| Limited Partner [Member] | 66,840 | 66,840 | 0.0% |
| General Partners Capital Account (Q) | — | — | — |
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| Limited Partner [Member] | 5,601,367 | 5,882,336 | -4.8% |
| Limited Partners Capital Account | 408.7 | 475.4 | -14.0% |
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| Limited Partner [Member] | 141,503 | 155,409 | -8.9% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 622,969 | 586,402 | +6.2% |
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| Limited Partner [Member] | 622,969 | 586,402 | +6.2% |
| Gain Loss On Disposition Of Assets | -72,066 | -55,003 | -31.0% |
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| Limited Partner [Member] | -72,066 | -55,003 | -31.0% |
| Derivative Gain Loss On Derivative Net | -1,111 | 18,751 | -105.9% |
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| Nondesignated | -1,111 | 18,751 | -105.9% |
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| Limited Partner [Member] | -1,111 | 18,751 | -105.9% |
| Stock-Based Compensation | 16,839 | 15,789 | +6.7% |
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| Limited Partner [Member] | 16,839 | 15,789 | +6.7% |
| Amortization Of Debt Discount Premium | 6,564 | 6,036 | +8.7% |
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| Limited Partner [Member] | 6,564 | 6,036 | +8.7% |
| Gain Loss From Unconsolidated Limited Partnerships Net Of Distributions Received | -7,457 | -7,809 | +4.5% |
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| Limited Partner [Member] | -7,457 | -7,809 | +4.5% |
| Increase Decrease In Accrued Liabilities And Other Operating Liabilities | 46,618 | 38,592 | +20.8% |
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| Limited Partner [Member] | 46,618 | 38,592 | +20.8% |
| Other Operating Activities Cash Flow Statement | 9,253 | -34,803 | +126.6% |
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| Limited Partner [Member] | 9,253 | -34,803 | +126.6% |
| Net Cash from Operations | 1,078,175 | 1,098,292 | -1.8% |
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| Limited Partner [Member] | 1,078,175 | 1,098,292 | -1.8% |
| Investing Activities | |||
| Payments To Acquire Real Estate And Other Assets | -133,447 | -301,071 | +55.7% |
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| Limited Partner [Member] | -133,447 | -301,071 | +55.7% |
| Payments For Capital Improvements | -360,238 | -322,372 | -11.7% |
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| Limited Partner [Member] | -360,238 | -322,372 | -11.7% |
| Payments To Acquire In Process Research And Development | -272,030 | -313,888 | +13.3% |
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| Limited Partner [Member] | -272,030 | -313,888 | +13.3% |
| Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital | 337 | 327 | +3.1% |
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| Limited Partner [Member] | 337 | 327 | +3.1% |
| Payments To Acquire Equity Method Investments | -9,850 | -2,874 | -242.7% |
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| Limited Partner [Member] | -9,850 | -2,874 | -242.7% |
| Proceeds From Real Estate Asset Dispositions | 81,353 | 84,209 | -3.4% |
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| Limited Partner [Member] | 81,353 | 84,209 | -3.4% |
| Net Proceeds From Insurance Recoveries | 3,657 | 20,195 | -81.9% |
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| Limited Partner [Member] | 3,657 | 20,195 | -81.9% |
| Net Cash from Investing | -690,218 | -825,499 | +16.4% |
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| Limited Partner [Member] | -690,218 | -825,499 | +16.4% |
| Distribution On Common Units Declared And Accrued | 183,324 | 181,738 | +0.9% |
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| Limited Partner [Member] | 183,324 | 181,738 | +0.9% |
| Construction In Progress Expenditures Incurred But Not Yet Paid | 25,914 | 32,903 | -21.2% |
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| Limited Partner [Member] | 25,914 | 32,903 | -21.2% |
| Interest Costs Capitalized | 18,863 | 17,435 | +8.2% |
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| Limited Partner [Member] | 18,863 | 17,435 | +8.2% |
| Conversion Of Stock Amount Converted1 | 6,759 | 3,529 | +91.5% |
| Financing Activities | |||
| Proceeds From Repayments Of Commercial Paper | 426,000 | -245,000 | +273.9% |
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| Limited Partner [Member] | 426,000 | -245,000 | +273.9% |
| Proceeds From Notes Payable | 397,416 | 1,091,646 | -63.6% |
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| Limited Partner [Member] | 397,416 | 1,091,646 | -63.6% |
| Repayments Of Notes Payable | -400,000 | -400,000 | 0.0% |
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| Limited Partner [Member] | -400,000 | -400,000 | 0.0% |
| Payments Of Financing Costs | -10,911 | -10,317 | -5.8% |
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| Limited Partner [Member] | -10,911 | -10,317 | -5.8% |
| Share Repurchases | -27,235 | — | — |
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| Limited Partner [Member] | -27,235 | — | — |
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| Limited Partnership Units [Member] | -27.2 | — | — |
| Payments Of Dividends Minority Interest | -18,222 | -18,260 | +0.2% |
| Payments Of Dividends Common Stock | -709,024 | -686,900 | -3.2% |
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| Limited Partner [Member] | -727,246 | -705,160 | -3.1% |
| Payments Of Dividends Preferred Stock And Preference Stock | -3,688 | -3,688 | 0.0% |
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| Limited Partner [Member] | -3,688 | -3,688 | 0.0% |
| Proceeds From Issuance Of Common Stock | 1,452 | 1,230 | +18.0% |
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| Limited Partner [Member] | 1,452 | 1,230 | +18.0% |
| Payments To Minority Shareholders | -26,786 | — | — |
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| Limited Partner [Member] | -26,786 | — | — |
| Proceeds From Payments For Other Financing Activities | 255 | 166 | +53.6% |
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| Limited Partner [Member] | 255 | 166 | +53.6% |
| Net Cash from Financing | -370,743 | -271,123 | -36.7% |
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| Limited Partner [Member] | -370,743 | -271,123 | -36.7% |
| Supplemental | |||
| Interest Paid | 190,259 | 164,883 | +15.4% |
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| Limited Partner [Member] | 190,259 | 164,883 | +15.4% |
| Income Taxes Paid | 300 | 3,343 | -91.0% |
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| Limited Partner [Member] | 300 | 3,343 | -91.0% |
| Other Cash Flow | |||
| Net Change in Cash | 17,214 | 1,670 | +930.8% |
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| Limited Partner [Member] | 17,214 | 1,670 | +930.8% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 73,975 | 56,761 | +30.3% |
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| Limited Partner [Member] | 73,975 | 56,761 | +30.3% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.