---
title: Mid-America Apartment Communities (MAA) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/maa
ticker: MAA
as_of: 2026-10-17
sector: Real Estate
industry: REIT - Residential
---
# Mid-America Apartment Communities (MAA)

Mid-America Apartment Communities (MAA) closed at $116.63 on Oct 16, 2026, undervalued by 13% vs its model value of $134.54 (from its own five-year median price to Cash FFO).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $116.63 (Oct 16, 2026) |
| Model value (from its own five-year median price to Cash FFO) | $134.54 |
| Price vs model | undervalued by 13% vs model |
| Range of that model | $126.06 – $148.03 |
| Market value | $13.5B |
| P/E (fiscal 2025) | 30.9 |
| Net margin (fiscal 2025) | 20.2% |
| Free cash flow (fiscal 2025) | $717.9M |
| Dividend yield (trailing twelve months) | 5.25% |
| Beta | 0.73 |
| Cost of capital (WACC) | 7.44% |
| Business classification | Dividend Payer (Low/slowing growth (~1% recent), High profitability (20% net margin), Strong dividend yield, Highly cyclical earnings, Strong FCF yield (5.3%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest dividend yield | #22 | 5.25% | https://sweetvaluelab.com/lists/highest-dividend-yield |
| Near 52-week lows | #9 | +2.1% | https://sweetvaluelab.com/lists/near-52-week-lows |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 5.25% |
| Dividends per share, last 12 months | $6.12 |
| Dividends / FFO (fiscal 2025) | 66.3% |
| Raised | 15 years in a row |
| Growth over 5 years | 8.1% a year |
| Latest payment | $1.53, ex-date Oct 15, 2026, paid Oct 30, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 14, 2021 | $4.14 |
| To Oct 13, 2022 | $4.68 |
| To Oct 12, 2023 | $5.60 |
| To Oct 15, 2024 | $5.88 |
| To Oct 15, 2025 | $6.06 |
| Trailing twelve months (to Oct 15, 2026) | $6.12 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/Cash FFO · own history | primary | $134.54 | $126.06 | $148.03 |
| P/E · peers | cross check | $122.78 | $96.36 | $213.37 |
| P/E · own history | cross check | $123.40 | $107.02 | $132.85 |
| PEG | sanity check | $29.29 | $29.29 | $29.29 |
| EV/EBITDA · peers | cross check | $57.42 | $17.78 | $95.22 |
| EV/Revenue · peers | cross check | $91.74 | $90.40 | $120.29 |
| Dividend discount | cross check | $120.45 | $82.68 | $198.43 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 22, 2026 | KELLY GREEN EDITH | Director | Grant / award | 223 | $26,570.5 |
| Sep 22, 2026 | Case John | Director | Grant / award | 54 | $6,434.1 |
| Sep 22, 2026 | Caplan Deborah H | Director | Grant / award | 121 | $14,417.2 |
| May 21, 2026 | FISCHER TAMARA D | Director | Open-market buy | 600 | $77,400 |
| May 21, 2026 | FISCHER TAMARA D | Director | Open-market buy | 500 | $64,000 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 9, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/912595/000119312526386623/maa-20260909.htm |
| Aug 28, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/912595/000119312526372238/maa-20260828.htm |
| Aug 4, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/912595/000119312526332847/maa-20260804.htm |
| Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/912595/000119312526326153/maa-20260630.htm |
| Jul 30, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/912595/000119312526324880/maa-20260730.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Viking Global | 2026-06-30 | 5,043,318 | $700.7M |
| Christopher Davis | 2026-06-30 | 21,900 | $3.0M |

2 tracked managers in all.

## About

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.

---

Source: https://sweetvaluelab.com/stocks/maa (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.