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Q1 2025 Mid-America Apartment Communities Inc Earnings Call
Fri 02 May 25, 08:25 AMMid-America Apartment's Q1 FFO Beats Estimates, Occupancy Rises
Thu 01 May 25, 04:44 PMAvalonBay's Q1 FFO Beats Estimates, Occupancy Rises Y/Y
Thu 01 May 25, 04:31 PMMid-America Apartment Communities (MAA) Q1 FFO Beat Estimates
Wed 30 Apr 25, 09:30 PMMAA REPORTS FIRST QUARTER 2025 RESULTS
Wed 30 Apr 25, 08:15 PMWhat's in Store for Mid-America Apartment Stock in Q1 Earnings?
Fri 25 Apr 25, 02:01 PMMid-America Apartment Communities (MAA) Moves 5.3% Higher: Will This Strength Last?
Thu 10 Apr 25, 02:06 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 646.99M | 563.13M | 265.84M | 368.66M | 231.80M |
| Minority interest | -17.34000M | -16.91100M | 9.05M | 12.81M | 8.12M |
| Net income | 637.44M | 533.79M | 254.96M | 353.81M | 222.90M |
| Selling general administrative | 124.30M | 108.62M | 99.16M | 101.13M | 82.42M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 753.17M | 573.48M | 526.67M | 531.33M | 487.00M |
| Reconciled depreciation | 544.00M | 534.41M | 511.68M | 497.79M | 491.00M |
| Ebit | 42.16M | -35.64500M | -79.30800M | -41.37100M | -79.74500M |
| Ebitda | 586.16M | 498.77M | 432.37M | 455.47M | 410.01M |
| Depreciation and amortization | 544.00M | 534.41M | 511.68M | 496.84M | 489.76M |
| Non operating income net other | 173.63M | 255.54M | 6.37M | 107.92M | 23.52M |
| Operating income | 42.16M | -35.64500M | -79.30800M | -41.37100M | 399.10M |
| Other operating expenses | 1390.99M | 1313.21M | 1250.47M | 1210.82M | 1166.77M |
| Interest expense | 154.75M | 156.88M | 167.56M | 179.85M | 173.59M |
| Tax provision | -6.20800M | 13.64M | 3.33M | 3.70M | 2.61M |
| Interest income | 211.68M | 120.57M | 160.24M | 161.96M | 176.17M |
| Net interest income | -154.74700M | -156.88100M | -167.56200M | -179.84700M | -173.59400M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -6.20800M | 13.64M | 3.33M | 3.70M | 2.61M |
| Total revenue | 2019.87M | 1778.08M | 1677.98M | 1641.02M | 1571.35M |
| Total operating expenses | 124.30M | 108.62M | 99.16M | 101.13M | 82.42M |
| Cost of revenue | 1266.69M | 1204.60M | 1151.31M | 1109.69M | 1084.35M |
| Total other income expense net | 604.83M | 598.77M | 345.15M | 410.03M | 0.81M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 654.78M | 550.70M | 262.51M | 364.96M | 463.60M |
| Net income applicable to common shares | 633.75M | 530.10M | 251.27M | 350.12M | 219.21M |
| Preferred stock and other adjustments | 3.69M | 3.69M | 3.69M | 3.69M | 3.69M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 11241.17M | 11285.18M | 11194.79M | 11230.45M | 11323.78M |
| Intangible assets | - | 0.90M | 1.30M | 2.60M | 3.90M |
| Earning assets | - | - | - | - | - |
| Other current assets | 22.41M | 76.30M | 10.42M | 50.06M | 17.41M |
| Total liab | 5030.75M | 5101.09M | 5090.99M | 4926.86M | 4942.18M |
| Total stockholder equity | 6025.76M | 5995.36M | 5887.03M | 6082.70M | 6159.25M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 595.84M | -3932.29000M | 356.27M | 402.26M | -126.15000M |
| Common stock | 21.82M | 1.15M | 1.14M | 1.14M | 1.14M |
| Capital stock | 21.83M | 31.34M | 1.15M | 1.15M | 1.15M |
| Retained earnings | -1188.85400M | -1255.80700M | -1294.18200M | -1085.47900M | -989.26300M |
| Other liab | 20.67M | 30.18M | 15.40M | 14.13M | 9.41M |
| Good will | - | - | - | - | - |
| Other assets | 11202.51M | 11188.05M | 253.05M | 101.23M | 148.66M |
| Cash | 38.66M | 54.30M | 25.20M | 20.48M | 34.26M |
| Cash and equivalents | 38.66M | 54.30M | 25.20M | 20.48M | 34.26M |
| Total current liabilities | 615.84M | 584.40M | 528.27M | 472.26M | 413.85M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | 4376.24M | 4462.39M | 4537.51M | 4434.12M | 4494.07M |
| Short term debt | 20.00M | 4516.69M | 172.00M | 70.00M | 540.00M |
| Short long term debt | 20.00M | - | 172.00M | 137.81M | 5.30M |
| Short long term debt total | 4414.90M | 4516.69M | 4562.71M | 4454.60M | 4528.33M |
| Other stockholder equity | 7202.83M | 7261.14M | 7192.19M | 7180.20M | 7147.58M |
| Property plant equipment | 10879.60M | 10832.06M | 10862.80M | 10943.45M | 11107.52M |
| Total current assets | 61.07M | 130.60M | 35.62M | 70.54M | 51.67M |
| Long term investments | 42.29M | 42.83M | 43.33M | 43.67M | 44.18M |
| Net tangible assets | 6025.75M | 5965.17M | 5887.02M | 6082.69M | 6159.24M |
| Short term investments | - | 42.83M | - | - | 17.41M |
| Net receivables | - | - | - | - | - |
| Long term debt | 4414.90M | 4516.69M | 4562.71M | 4454.60M | 4053.30M |
| Inventory | 64.31M | 24.02M | 60.99M | 34.55M | 58.26M |
| Accounts payable | 615.84M | 584.40M | 547.27M | 472.28M | 413.85M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | 184.66M | 188.73M | 216.78M | 220.89M | 222.35M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -10.05200M | -11.13200M | -12.12800M | -13.17800M | -0.21200M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | 1.15M | 1.15M | 1.14M | 1.14M | 1.14M |
| Preferred stock total equity | 0.00900M | 0.00900M | 0.00900M | 0.00900M | 0.00900M |
| Retained earnings total equity | -1188.85400M | -1255.80700M | -1294.18200M | -1085.47900M | -989.26300M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 11137.80M | 11110.86M | 11114.55M | 11116.24M | 11224.03M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 11180.09M | 11154.58M | 11159.18M | 11159.91M | 11272.11M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | 4414.90M | 4516.69M | 4562.71M | 4454.60M | 4053.30M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -13.31100M | -4.17200M | -5.00000M | -4.88400M | 1.55M |
| Change to liabilities | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Total cashflows from investing activities | -405.23600M | -253.58600M | -484.73100M | -238.27300M | -732.70000M |
| Net borrowings | -111.91700M | -50.67000M | 104.27M | -82.60400M | 69.80M |
| Total cash from financing activities | -722.77000M | -546.39800M | -374.14400M | -524.27900M | -405.13600M |
| Change to operating activities | -16.05600M | 55.92M | 32.56M | -9.38500M | 9.31M |
| Net income | 654.78M | 550.70M | 264.01M | 366.62M | 231.02M |
| Change in cash | -69.52700M | 94.98M | -34.92600M | 18.87M | -37.19400M |
| Begin period cash flow | 130.60M | 35.62M | 70.54M | 51.67M | 88.87M |
| End period cash flow | 61.07M | 130.60M | 35.62M | 70.54M | 51.67M |
| Total cash from operating activities | 1058.48M | 894.97M | 823.95M | 781.42M | 734.29M |
| Issuance of capital stock | - | - | - | - | 0.58M |
| Depreciation | 544.00M | 534.41M | 511.68M | 497.79M | 491.00M |
| Other cashflows from investing activities | -95.74900M | 30.22M | -52.79000M | 69.71M | -224.82000M |
| Dividends paid | 543.29M | 474.09M | 461.04M | 441.43M | 423.54M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | -43.07000M | - | - | - | -2.92100M |
| Other cashflows from financing activities | -53.07600M | 566.84M | 783.01M | 1679.77M | 2389.35M |
| Change to netincome | -190.91300M | -143.27800M | 44.32M | -76.71900M | 24.97M |
| Capital expenditures | 296.18M | 279.63M | 426.94M | 303.10M | 254.72M |
| Change receivables | - | - | - | - | 18.63M |
| Cash flows other operating | 44.55M | -52.52400M | -1.02400M | -12.04700M | -9.06400M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | -69.52700M | 94.98M | -34.92600M | 18.87M | -74.38800M |
| Change in working capital | -16.05600M | 55.92M | 32.56M | -9.38500M | 9.31M |
| Stock based compensation | 18.80M | 16.66M | 14.33M | 13.65M | 12.44M |
| Other non cash items | -149.25100M | 5.65M | 4.96M | 5.78M | -4.99000M |
| Free cash flow | 762.30M | 615.33M | 397.01M | 478.32M | 479.58M |
Sector: Real Estate Industry: REIT - Residential
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| MAA Mid-America Apartment Communities Inc |
-2.21 1.70% | 127.92 | 26.57 | 29.33 | 7.36 | 2.51 | 9.21 | 14.94 |
| AVB AvalonBay Communities Inc |
-2.63 1.51% | 171.82 | 31.01 | 41.84 | 11.03 | 2.71 | 13.98 | 19.11 |
| EQR Equity Residential |
-1.32 2.15% | 60.16 | 35.33 | 38.31 | 8.20 | 2.12 | 10.94 | 13.97 |
| INVH Invitation Homes Inc |
-0.54 2.10% | 25.21 | 42.22 | 44.44 | 8.97 | 2.05 | 12.04 | 19.45 |
| SUI Sun Communities Inc |
-0.34 0.25% | 136.31 | 73.72 | 58.48 | 5.47 | 2.11 | 7.63 | 19.90 |
MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. As of June 30, 2023, MAA had ownership interest in 101,986 apartment units, including communities currently in development, across 16 states and the District of Columbia.
6815 Poplar Avenue, Germantown, TN, United States, 38138
| Name | Title | Year Born |
|---|---|---|
| Mr. H. Eric Bolton Jr. | Chairman, Pres & CEO | 1957 |
| Mr. Albert M. Campbell III | Exec. VP & CFO | 1967 |
| Mr. Thomas L. Grimes Jr. | Exec. VP & COO | 1969 |
| Mr. Adrian Bradley Hill | Exec. VP & Chief Investment Officer | 1977 |
| Mr. Robert J. DelPriore Esq., J.D. | Exec. VP, Chief Admin. Officer & Gen. Counsel | 1969 |
| Mr. A. Clay Holder | Sr. VP & Chief Accounting Officer | 1977 |
| Mr. Joseph P. Fracchia CPA | Exec. VP, Chief Technology & Innovation Officer | NA |
| Ms. Jennifer Patrick | Investor Relations Contact | NA |
| Ms. Leslie Bratten Cantrell Wolfgang | Sr. VP, Chief Ethics & Compliance Officer and Corp. Sec. | NA |
| Mr. Warren Davis | Sr. VP of Revenue, Sales & Marketing | NA |
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