MID-AMERICA APARTMENT COMMUNITIES, INC.
At today's price, MID-AMERICA APARTMENT COMMUNITIES, INC. (MAA) is priced for +6.1% FFO growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
The number that decides the thesis is the supply pipeline. Sun Belt multifamily starts have fallen for twelve straight quarters, and if that holds, MAA's flat-to-negative same-store NOI today becomes the trough rather than the trend. The cash flow is steady through the soft patch. Q1 2026 Core FFO was $2.13 per share, two cents ahead of guidance, on 95.5% occupancy, and the dividend carries a 27-year unbroken record at a roughly 4.6% yield. The price reads as expensive against the value of the
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728 institutional managers reported holding MAA in 13F filings for the quarter ended 2026-03-31. Together they hold about 87% of the company; the top 10 hold 51%. 83 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 3.5M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MAA's share count grew 1.9% over the past five years even with $72.78M spent on repurchases. It pays a dividend, and has for 8 years running, raised 7 years straight; the current rate is $6.08 a share annually. Cash returned over the past three years: $1.90B in dividends and $72.78M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MAA over the trailing three years: 2023: 7 buys totaling $1.13M; 2024: 1 buy totaling $13k; 2025: 2 buys totaling $175k; 2026: 1 buy totaling $141k. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MAA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | -1.5% | -13.6% |
| 2023-10-27 | -6.2% | +14.4% |
| 2024-02-10 | -1.0% | +2.9% |
| 2024-05-03 | +1.3% | +4.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MAA's latest 8-K filings: 2026-06-25 (items 1.01, 9.01); 2026-06-01 (items 7.01, 9.01); 2026-05-20 (items 5.07); 2026-05-04 (items 7.01, 9.01); 2026-04-29 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.