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Mid-America Apartment Communities, Inc. (MAA) Stock Analysis

By Nova Skye | AltStation.io | Updated October 05, 2026

Price

$114.97

Change

-1.22%

Market Cap

$13.68B

Avg Volume

1.1M

Company Overview

Mid-America Apartment Communities, known as MAA, is a residential real estate investment trust in the S&P 500 that buys, builds, and manages rental apartment complexes. Headquartered in Germantown, Tennessee, the company operates within the residential REIT segment of the real estate sector. Its business model is straightforward: leasing quality apartment homes to individual renters primarily in the Southeast, Southwest, and Mid-Atlantic regions. As of June 30, 2026, MAA held ownership interests in 104,698 apartment units across 16 states and the District of Columbia.

MAA is an established market leader in Sunbelt multifamily housing, not a speculative challenger. Its main competitive edge comes from massive scale across high-population-growth southern metros, which keeps overhead low and operational efficiency high. The primary threat comes from intense regional competition with peers like Camden Property Trust and Independence Realty Trust, combined with a heavy influx of new apartment supply. That surge in competing units limits rapid rent hikes and forces MAA to rely on selective unit redevelopments to protect rental income.

The company is currently expanding its portfolio rather than contracting or pivoting, maintaining active development projects to drive long-term unit growth. Incorporated in Tennessee in 1977, MAA sticks to a proven playbook of acquiring, developing, and upgrading properties in core submarkets. Its milestone of reaching 104,698 total units owned or in development by mid-2026 provides a deep foundation of recurring revenue. MAA is built for durable, full-cycle performance, and its large geographic footprint across 16 states provides the stability needed to navigate regional housing supply swings.

Key Financials

Market Cap

$13.68B

Revenue

$2.22B

EBITDA

$1.24B

Gross Margin

58.4%

Profit Margin

18.2%

Revenue Growth

1.0%

Total Cash

$51.84M

Total Debt

$5.72B

Free Cash Flow

$921.18M

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

33.62

Forward P/E

35.05

Beta

0.71

52-Week High

$144.41

52-Week Low

$114.58

EPS

$3.42

50-Day Avg

$128.13

200-Day Avg

$131.14

Price/Book

2.45

Technical Analysis

MAA trades at $114.97, just 3% of the way from its $114.47 52-week low to its $142.76 high. The stock is 19.25% below that high and only 0.70% above the low. Price sits 4.84% below the 20-day moving average of $121.13. Momentum is negative, with declines of 2.60% over five trading days and 10.34% over 20 trading days. MAA has slipped below the $115.27 near-term support level, while $133.16 is the stated near-term resistance.

Recent News and Developments

MAA falls 2.59% in a weak trading week

MAA closed at $115.27 on October 2, down from $118.34 on September 28. Shares declined for three straight sessions through October 2, including losses of 1.16% and 0.95% during the final two sessions. Source: Stock Analysis

KeyCorp keeps its Overweight rating on MAA

KeyCorp reiterated its Overweight rating on September 29. The firm did not publish a new price target with the rating. Source: MarketBeat

MAA reaches redemption date for 8.50% preferred shares

MAA scheduled the redemption of all outstanding Series I preferred shares for October 1 at $50 per share plus unpaid accrued dividends for that date. Management said the preferred-dividend savings should exceed the dilution from the common shares issued to fund the transaction, making it accretive to Core FFO per share. Source: MAA Investor Relations

Market Sentiment and Analyst Recommendations

Bull Case

MAA generates $2.22 billion in revenue and has a $13.68 billion market capitalization. Revenue is still growing, although the 1.0% rate is modest. The $141.40 analyst target sits well above the current $114.97 price, with individual targets ranging from $121.00 to $160.00. KeyCorp reiterated its Overweight rating on September 29, providing a fresh vote of confidence during a weak stretch for the stock. MAA’s October 1 redemption of its 8.50% Series I preferred shares removes an expensive security from its capital structure. Management expects the preferred-dividend savings to exceed the dilution from the common shares used to fund the transaction, making it accretive to Core FFO per share.

Bear Case

MAA trades at 33.62 times earnings despite revenue growth of only 1.0%. That is a demanding valuation for a company showing limited top-line expansion. Total debt stands at $5.72 billion against just $51.84 million in cash, leaving little balance-sheet cushion in the figures provided. Technical momentum is firmly negative, with the stock down 10.34% over 20 trading days and 4.84% below its 20-day moving average. The price has also fallen below the $115.27 near-term support level and sits only 0.70% above its 52-week low. The consensus recommendation is hold across 25 analysts, which does not signal broad conviction that the current weakness is an obvious buying opportunity.

What to Watch

The first test is whether MAA can regain the $115.27 near-term support level after closing there on October 2 and subsequently trading at $114.97. A break below the $114.47 52-week low would confirm that selling pressure remains in control. On the upside, investors should watch for a recovery above the $121.13 20-day moving average. The larger technical hurdle is the $133.16 near-term resistance level. Investors should also monitor whether the October 1 preferred-share redemption delivers the Core FFO-per-share benefit management expects from eliminating the 8.50% preferred dividend. Fundamentally, revenue growth needs to improve from 1.0% to better support a P/E ratio of 33.62.

Analyst Consensus

HOLD

Based on 25 analyst opinions

Low Target

$121.00

Mean Target

$141.40

High Target

$160.00

Earnings and Financial Data

Sector

Real Estate

Industry

REIT – Residential

Employees

2,507

Earnings & Dividends

Next Earnings

Oct 28, 2026

EPS (Trailing)

$3.42

Dividend Yield

526.0%

Payout Ratio

178.1%

Frequently Asked Questions

Is MAA a good stock to buy?

The consensus recommendation is hold based on 25 analysts. The stock is near its 52-week low, but negative momentum and a 33.62 P/E make this a wait-for-confirmation setup.

What is MAA’s analyst price target?

The average analyst target is $141.40, with estimates ranging from $121.00 to $160.00. Every listed target is above the current $114.97 price, so analysts see potential upside.

Is MAA stock undervalued?

MAA trades at a P/E ratio of 33.62 while revenue growth is 1.0%. The low position in its 52-week range makes the price look beaten down, but the earnings multiple does not make it clearly cheap.

What are MAA’s support and resistance levels?

Near-term support is $115.27, and near-term resistance is $133.16. With the stock at $114.97, it is already slightly below the stated support level.

How strong is MAA’s balance sheet?

MAA has $51.84 million in total cash and $5.72 billion in total debt. The provided figures show debt far above cash, so balance-sheet leverage is a key risk to monitor.

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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated October 05, 2026.