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Mid-America Apartment Communities, Inc. — Intrinsic Value & Fair Price

MAA
NYSEReal EstateREIT - ResidentialCIK 0000912595maac.comAbout MAA
Last close · Oct 16, 2026116.63+0.36 (+0.31%)
Market cap$13.5B
Model value · P/Cash FFO · own history
134.54
Mid-America Apartment Communities closed at $116.63 — undervalued by 13% vs model.
126.06the model's range148.03

P/Cash FFO · own history leads for a REIT. From its own five-year median price to Cash FFO.

Other models
29.29 – 123.40
Wall St. target
136.00 14% below
Below model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
5.25%
#22 · Highest dividend yield
Past 2 years
low 3.47%high 5.35%
Dividends per share, a year at a time
$4.14Oct ’21$4.68Oct ’22$5.60Oct ’23$5.88Oct ’24$6.06Oct ’25$6.12TTM
Dividends / FFO, FY2025
66.3%
Raised
15 years in a row
Growth, 5 yrs
8.1% a year
Last change
+1.0% · Jan 2026
Every payment, with ex-dates · latest $1.53, paid Oct 30, 2026

Research on MAA

No posts on MAA yet.
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How it is valued

Valued asREIT
Low/slowing growth (~1% recent)High profitability (20% net margin)Strong dividend yieldHighly cyclical earningsStrong FCF yield (5.3%)
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for REITs
Price / Cash FFO
—
Dividend yield, TTM
5.25%
Dividends / Cash FFO
—
Debt / assets
45.1%
Price / book
2.3×
Revenue growth
0.8%
Full financials

Analyst actions

third-party, quoted
10-14Barclays · target136.00
10-14UBS · target124.00
10-12Piper Sandler · target121.00
05-14Scotiabank · “Sector Underperform” from “Sector Perform”downgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
2 more companies list MAA as a comparable

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just MAA. No account.

About Mid-America Apartment Communities

Mid-America Apartment Communities, known as MAA, is a prominent S&P 500 entity operating as a Real Estate Investment Trust (REIT). Its core objective is to generate outstanding, comprehensive investment returns for its shareholders. MAA achieves this by strategically acquiring, developing, redeveloping, owning, and managing high-quality apartment complexes. These properties are primarily located across the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, the company held an interest in 102,772 apartment units, a figure that includes communities currently under development, spread throughout 16 states and the District of Columbia.

CEO
Adrian Bradley Hill
Headquarters
Germantown, TN
Employees
2,507
IPO
1994-01-28
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.