Quarterly ResultApr 29, 2026, 04:40 PM
MAA Q1 FFO $2.23/Share; Core FFO $2.13; Blended Lease Rate -0.3%
AI Summary
Mid-America Apartment Communities, Inc. (MAA) reported Q1 2026 results with Core FFO per diluted share of $2.13, exceeding expectations, and FFO per diluted share of $2.23. The company saw improving blended lease rate growth, strong resident retention, and increased market-level occupancies. MAA also completed two development projects, acquired land for future developments, and repurchased $73 million in common stock while issuing $200 million in senior notes.
Key Highlights
- Core FFO per diluted share was $2.13, exceeding expectations.
- FFO per diluted share was $2.23 for Q1 2026.
- Same Store effective blended lease rate growth was -0.3%, a 20 basis point improvement YoY.
- Repurchased 0.6 million shares for approximately $73 million at $130.46 per share.
- Issued $200.0 million of 7-year unsecured senior notes at a 4.650% coupon.
- Completed development of MAA Breakwater (Tampa, FL) and MAA Liberty Row (Charlotte, NC).
- Disposed of a 316-unit community in Houston, TX for $41 million net proceeds.
- Same Store resident turnover reached a historically low 39.9%.