Mid-America Apartment Communities (MAA) FY2025 10-K Annual Report
Mid-America Apartment Communities (MAA) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 6, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Mid-America Apartment Communities FY2025 10-K Analysis
Business Overview
- • Core business: Multifamily real estate investment trust owning and operating apartment communities mainly in Southeast, Southwest, and Mid-Atlantic U.S. regions
- • New developments: $272M development spend in 2025 on 8 projects totaling 2,522 units under construction, including a new Charleston pre-purchase joint venture
Management Discussion & Analysis
- • Total property revenues $2.21B, up 0.8% YoY; Same Store revenues down 0.1% to $2.08B, Non-Same Store up 18.9% to $132M
- • Property operating expenses $838M, increased 2.2% YoY; operating margin declined due to higher expenses and flat Same Store rent
Risk Factors
- • Regulatory risk: potential impact of Section 1031 like-kind exchange tax law changes limiting tax-deferred property sale strategies
- • Geopolitical/macroeconomic risk: 41.2% portfolio concentration in top 5 U.S. markets vulnerable to regional economic downturns or disasters
Mid-America Apartment Communities FY2025 Key Financial MetricsXBRL
Revenue
$2.2B
▲ +0.8% YoY
Net Income
$447M
▼ -15.3% YoY
Net Margin
20.2%
▼ -385bp YoY
ROE
7.9%
▼ -99bp YoY
Total Assets
$12.0B
▲ +1.4% YoY
EPS (Diluted)
$3.78
▼ -15.8% YoY
Operating Cash Flow
$1.1B
▼ -1.8% YoY
Source: XBRL data from Mid-America Apartment Communities FY2025 10-K filing on SEC EDGAR. All figures in USD.
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