Mid-America Apartment Communities, Inc. (MAA)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business: MAA owns 104,698 apartment units in Southeast, Southwest and Mid-Atlantic markets, which gives it recurring rental revenue and local scale. That is a decent, understandable REIT, but not a wide-moat franchise. The filed numbers show why I would not call it a bargain. In fiscal 2025, the year ended 2025-12-31, revenue was $2.2B, net income $446.9M and diluted EPS $3.78, down from $527.5M and $4.49 in fiscal 2024 and $552.8M and $4.71 in fiscal 2023. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $553.7M, net income $124.4M and diluted EPS $1.06, so reported earnings have not yet returned to the earlier peak. Because this is a REIT, depreciation distorts EPS and P/E, and the right measures are FFO/AFFO—which are not in the data. I therefore lean on dividend yield, leverage, revenue trend and price-to-book. At the $119.58 close on 2026-10-26, FairStock shows P/B of 2.55, dividend yield of 5.15%, D/E of 1.02, FCF yield of 4.6%, P/E of 34.86 and PEG of 2.77. Revenue growth is only 0.95%, and the dividend yield exceeds the FCF yield, so coverage should be checked through AFFO when available. The Lynch category is STALWART, with 11.9% five-year profit growth and 5.7% revenue growth, but the recent trend is slower. FairStock score 52/100, beta 0.71. Steady income, modest growth, fair-to-full price.

In plain English: Mid-America Apartment Communities owns and manages apartment communities, mainly in the Southeast, Southwest and Mid-Atlantic. The business looks steady but not fast-growing: rental revenue has been roughly flat and profits have slipped from earlier highs, while the dividend yield is meaningful. At the recent close, the shares look fair to modestly expensive relative to accounting value and earnings, given slow growth and moderate leverage.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer