Mid-America Apartment Communities, Inc. (MAA)
Fair bewertetFundamental
56
Kurs
$116.55
Marktkapitalisierung
$13.99B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Mid-America Apartment Communities owns and operates apartment communities — it is a landlord, not a developer that sells what it builds. As of the end of 2025 it held an ownership interest in roughly 105,000 apartment units across 16 U.S. states and Washington, D.C., concentrated in the Sun Belt, the fast-growing southeastern and southwestern states where population and job growth have outpaced the rest of the country for years. It is organized as a real estate investment trust, which means it must distribute most of its taxable income to shareholders as dividends.
Wie das Geld verdient wird
Revenue is monthly rent collected from residents across the owned communities, plus smaller fees for services like parking or pet deposits. Because leases typically run about a year, rent growth shows up gradually as leases turn over and are re-signed at prevailing market rates, rather than all at once; occupancy and the pace of rent increases on renewals and new leases are the two levers that move revenue most.
Wettbewerbsvorteil
Skaleneffekte · SchmalOwning roughly 105,000 units clustered in Sun Belt metro areas lets the company spread property management, maintenance and technology costs over a larger base than smaller local landlords, and gives it easier access to capital markets. It is not a durable advantage in the way a patent or network effect would be — any well-capitalized competitor can build or buy apartments in the same markets — but scale does give an ongoing cost edge in day-to-day operations.
Was die Nachfrage antreibt
Mäßig zyklischPeople need housing regardless of the economic cycle, which makes apartment demand steadier than most businesses, but rent growth and occupancy still move with local job markets and, importantly, with how much new apartment supply competing developers deliver in the same submarkets at the same time. A wave of new construction can hold down rents even while the broader economy is healthy.
Wichtigste Risiken
- New supply in Sun Belt markets — The company notes that elevated levels of new apartment construction in several Sun Belt markets in recent years have increased competition and pressured pricing power for landlords, including itself.
- Competition from other housing types — Residents can choose competing apartment communities, single-family rental homes, manufactured housing or condominiums, and rival landlords can offer concessions or lower rents to win tenants away.
- Rent regulation and local law — Changes in rent control, building codes or environmental rules in the states and cities where the company operates could raise operating costs or limit its ability to raise rents.
Die Argumente dafür
Buyers point to population and job growth in the Sun Belt outpacing the rest of the country for years, to new apartment deliveries slowing after a construction wave, and to the company's scale advantage in operating costs as reasons occupancy and rent growth should improve from here.
Die Argumente dagegen
Sellers worry that Sun Belt markets attracted so much new apartment construction that supply could keep outrunning demand for longer than expected, and that a REIT structure paying out most of its income leaves less cushion to absorb a period of soft rent growth without relying more on debt.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
Generated on 19. September 2026 with claude-haiku-4-5 — shared with all users
Camden is the closest match to MAA: a large apartment REIT concentrated in the same Sunbelt metros — Dallas, Austin, Houston, Atlanta and Charlotte — renting to the same middle-market residents and bidding for the same communities.
Independence Realty owns roughly 38,000 apartments in non-gateway Sunbelt cities such as Atlanta, Dallas, Nashville and Raleigh, competing with MAA for the same renters in the same suburban submarkets.
UDR runs a mixed coastal and Sunbelt portfolio and overlaps with MAA directly in Dallas, Austin, Tampa, Orlando and Nashville, where the two lease to the same tenants.
Greystar, privately held, is the largest apartment owner-operator and manager in the United States and competes with MAA for the same Sunbelt residents and for the same development and acquisition deals.
Historically a coastal landlord, Equity Residential has pushed into Atlanta, Dallas/Fort Worth and Denver, putting it head to head with MAA for residents and for apartment portfolios in those metros.
AvalonBay is expanding its coastal portfolio into Sunbelt markets such as Charlotte, Raleigh, Dallas and Austin, where it builds and leases the same kind of apartment communities MAA owns.
Bilanz & Liquidität
Umsatz
$2.21B
Letzte 12 Monate (bis 31.3.2026)
Nettogewinn
$390M
Letzte 12 Monate (bis 31.3.2026)
Freier Cashflow
-
Gesamtes Eigenkapital
$5.66B
Gesamtverbindlichkeiten
$6.14B
Current Ratio
0.10
Zinsdeckungsgrad
-
Schulden/EBITDA
9.16
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$144.66
Aktueller Kurs
$116.55
Sicherheitsmarge
+19.4%
Innerer-Wert-Spanne
$137.43 - $151.90
Streubreite zwischen den verwendeten Bewertungsmethoden, kein statistisch kalibriertes Konfidenzintervall.
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
35.68
ROE
7.9%
P/B-Verhältnis
2.47
P/FCF
-
Bruttomarge
-
ROIC
-
Rentabilitäts-Radar
Wertschöpfung (Wettbewerbsvorteil)
ROIC
-
WACC
5.2%
ROIC − WACC
-
Fundamentalanalyse-Kriterien
Bestanden (10)
- EPS shows upward trend
- EPS CAGR 14.64%
- P/B Ratio 2.47
- Debt/Equity ratio
- Return on Tangible Assets
- Low reliance on intangibles
- Revenue Growth 5Y 5.7%
- Earnings Surprise avg 3.3%
- Earnings Quality (OCF/NI) 2.65
- Share Dilution 0.6%
Nicht bestanden (9)
- Price CAGR 1.86%
- Debt/EBITDA
- Price below Graham Number
- DCF valuation (Unknown)
- ROE 7.2%
- Analyst Consensus 39% Buy
- PEG Ratio 2.98
- Net Margin Trend 17.6% vs 25.7%
- Piotroski F-Score 4/9
Nicht verfügbar (9)
- ROIC NaN%
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Operating Margin NaN%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
Piotroski F-Score
Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit
Gewinnqualität
Hohe Qualität: Gewinne durch Cashflow gedeckt
Aktienverwässerung
Aktienanzahl ist stabil
Institutionelle Beteiligungen
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. H. Eric Bolton Jr. | Executive Chairman | 68 |
| Mr. Adrian Bradley Hill C.F.A. | CEO, President & Director | 49 |
| Mr. A. Clay Holder | Executive VP & Chief Financial Officer | 48 |
| Mr. Robert J. DelPriore Esq., J.D. | Executive VP, Chief Administrative Officer & General Counsel | 56 |
| Mr. Timothy P. Argo CPA | Executive VP and Chief Strategy & Analysis Officer | 48 |
| Ms. Amber Fairbanks | Executive Vice President of Property Management | 44 |
| Mr. James Bart French | Executive Vice President of Investments | 55 |
| Mr. David Herring | Senior VP, Principal Accounting Officer & Chief Accounting Officer | 51 |
| Mr. Joseph P. Fracchia CPA | Executive VP and Chief Technology & Innovation Officer | 51 |
| Ms. Jennifer Patrick | Investor Relations Contact | - |
Prüfungsrisiko
5
Vorstandsrisiko
6
Vergütungsrisiko
1
Aktionärsrechterisiko
1
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Dokumente
- Dokument ansehen
Jahresbericht (10-K)
Ein jährlicher Überblick über das Geschäft, die Finanzergebnisse und die Risiken des Unternehmens.
Eingereicht am 2026-02-06
- Dokument ansehen
Quartalsbericht (10-Q)
Ein Update zur finanziellen Entwicklung der letzten drei Monate.
Eingereicht am 2026-07-30
- Dokument ansehen
Ad-hoc-Meldung (8-K)
Eine Mitteilung über ein wichtiges Ereignis, etwa einen Führungswechsel oder eine bedeutende Ankündigung.
Eingereicht am 2026-09-09
via SEC EDGAR
Ertragshistorie
via SEC EDGAR
Latest News
Recent headlines for MAA, sourced from Markets Gazette.