GERMANTOWN, Tenn., June 3, 2024 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced a full quarterly dividend of $1.0625 per outstanding share of its 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend is payable on July 1, 2024, to shareholders of record on June 14, 2024. About MAA MAA is a self-administered real estate investment trust (REIT) and member of the S&P 500. MAA owns or has ownership interest in apartment communities primarily throughout t ...

Core Viewpoint - Mid-America Apartment Communities (MAA) is a high-quality apartment REIT with a strong balance sheet and a history of dividend increases, but faces challenges due to oversupply in the Sunbelt market leading to declining rents and vacancies [1][2][3] Short to Medium-Term Prospects (2024-2025) - MAA's performance is closely tied to the Sunbelt market, which is experiencing high levels of new A-Class apartment supply, with new deliveries expected to be 5.5% of the current stock in 2024 compared to 2.1% in Coastal markets [5][6] - High tenant turnover and increased vacancies, particularly in Atlanta and Austin, have led to a nationwide apartment vacancy rate of 6.7%, with Austin experiencing a 5.7% year-over-year decline in rents [7][8] - Management has guided for a negative NOI growth of -1.3% in 2024, reflecting cautious expectations for the upcoming year [9][10] Long-Term Outlook (2025 and Beyond) - Post-2025, supply is expected to decline sharply as building permits have decreased significantly from their peak in 2021, indicating a slowdown in new residential developments [11][12] - Demand for rental properties is anticipated to remain strong due to wage growth outpacing rent growth and the rising unaffordability of homeownership, with the average new mortgage payment being over 50% higher than comparable rents [15][16] - Substantial rent growth of over 5% is expected to return to the Sunbelt after 2025, driven by reduced supply and sustained demand [18] Financial Projections - The consensus forecasts a 4.6% decline in FFO for 2024, followed by modest growth in 2025 and 2026, with potential for upside if conditions improve post-2025 [20] - The current implied cap rate is at 6.7%, with expectations for it to decline, potentially leading to a price upside of 27% over the next three years [21][23]

This is a question that I often get from my readers: "When exactly will REITs recover?" Adam Gault And I get why. Real estate investment trusts ("REITs") (VNQ) have now been in a 2-year-long bear market, and we are all getting a bit impatient, including myself: Data by YCharts But unfortunately, there is no easy answer here. I wish I had a crystal ball that could predict the future, but no one can time the market, and I am no exception. The market can be incredibly unpredictable over the short run, and this ...

GERMANTOWN, Tenn., May 21, 2024 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced that its board of directors approved a quarterly dividend payment of $1.47 per share of common stock to be paid on July 31, 2024, to shareholders of record on July 15, 2024. This announcement represents the 122nd consecutive quarterly cash dividend declared by the company. Over its 30-year history, MAA has never reduced or suspended its quarterly common dividend payment. As establishe ...

These companies have excellent records of paying dividends, which isn't likely to end anytime soon. Dividend stocks are proven wealth creators. Over the last 50 years, they have outperformed non-payers by more than 2 to 1. A big driver is their steady (and often growing) income stream, which provides investors with a solid base return year in and year out. One Liberty Properties (OLP 1.09%), Truist Financial (TFC -0.45%), and Mid-America Apartment Communities (MAA 0.64%) have magnificent records of paying d ...

Real estate investment trusts will benefit from lower interest rates. The past few years have been challenging for most real estate investment trusts (REITs). Higher interest rates have weighed on real estate values to increase their income yields above those of lower-risk income investments like bonds. In addition, higher rates have made it more expensive for REITs to borrow money to fund development projects and acquisitions. The income lover's dream Realty Income built a real estate business designed to ...

Wells Fargo Securities, LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, TD Securities (USA) LLC and KeyBanc Capital Markets Inc. were the joint book-running managers for the offering. GERMANTOWN, Tenn., May 13, 2024 /PRNewswire/ -- Mid-America Apartment Communities, Inc., ("MAA") (NYSE: MAA) today announced that its operating partnership, Mid-America Apartments, L.P. ("MAALP"), priced a $400,000,000 offering of MAALP's 5.300% senior unsecured notes due February 15, 2 ...

CHUNYIP WONG/iStock via Getty Images Just before we transitioned into 2024, I wrote a fairly bullish article on Mid-America Apartment Communities (NYSE:MAA), which was a follow-up piece for my initial thesis on MAA back in September 2023. While I was (and still am) optimistic about MAA's prospects to generate solid shareholder returns, I made it clear that in the short term there is a limited probability of MAA outperforming the market. The chart below, which measures the total return performance of MAA ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12762 (Mid-America Apartment Communities, Inc.) (901) 682-6600 (Registrant's telephone number, including area code) N/A (For ...

Mid-America Apartment Communities (MAA) reported first-quarter 2024 core funds from operations (FFO) per share of $2.22, which missed the Zacks Consensus Estimate of $2.23. Moreover, the reported figure fell 2.6% year over year from $2.28.Although this residential REIT experienced growth in the average effective rent per unit for the same-store portfolio, its quarterly results reflect a fall in the occupancy level and high supply across its markets. The company also experienced an increase in operating expe ...