For the three and six months ended June 30, 2021, loss (gain) on investments are presented net of tax expense of $1.3 million and $1.7 million, respectively. Funds from operations per Share - diluted: (Income) loss on embedded derivative in preferred shares, (Gain) loss from unconsolidated limited partnerships, net of tax, Net casualty (gain) loss and other settlement proceeds, Adjustments to reflect the Company's share of EBITDA, (Gain) loss on embedded derivative in preferred shares, 1031(b) exchange proceeds included in Restricted cash, http://www.prnewswire.com/news-releases/maa-reports-fourth-quarter-and-full-year-results-301221692.html. P.O. Included in Other non-operating (income) expense in the Consolidated Statements of Operations. Looking for a particular Mid-America Apartment Communities employee's phone or email? Property operating expenses for the Same Store Portfolio increased 6.9% for the fourth quarter of 2020 as compared to the same period in the prior year. Mid America Apartments Contact Information. Funds from operations per Share - diluted: Adjusted EBITDAre is calculated for the trailing twelve month period for each date presented. Liam in MO, a Boston Terrier in Elkhorn, NE - Petfinder Corporate Profile MAA | Luxury Apartment Rentals During the second quarter of 2022, MAA funded $53.9 million of costs for current and completed projects, including predevelopment activities related to land parcels located in the Denver, Colorado market, the Tampa, Florida market and the Orlando, Florida market. Core AFFO should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. (business & personal). Non-Same Store and Other NOINon-Same Store and Other NOI represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties classified within the Non-Same Store and Other Portfolio during the period. MAA (NYSE: MAA) is an S&P 500 company and real estate These expenditures led to Core Adjusted Funds from Operations, or Core AFFO, of $1.47 per Share for the fourth quarter of 2020, compared to $1.54 per Share for the same period in the prior year. MAA - Apartment Communities in the Southeast & Southwest The conference call-in number is 877-830-2598. Same Store NOI represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties classified within the Same Store Portfolio during the period. INDIQUE. Service Center Hours of Operation 8:30 a.m. - 6:00 p.m. Providing interest-free rent deferral (assisting over 8,000 households). MAA reviews its Same Store Portfolio at the beginning of each calendar year, or as significant transactions or events warrant. 108th Consecutive Quarterly Common Dividend DeclaredMAA declared its 108th consecutive quarterly common dividend, which was paid on January 29, 2021 to holders of record on January 15, 2021. Phone: 800-430-7999, Health Reimbursement Arrangements/Flexible Spending Accounts Dollars in thousands, except per share data, Net income available for MAA common shareholders, Funds from operations per Share - diluted: (2), Dividends/Core FFO (diluted) payout ratio, Dividends/Core AFFO (diluted) payout ratio, Debt discount and debt issuance cost amortization, Amortization of principal on notes payable. Adjusted EBITDAreFor purposes of calculations in this release, Adjusted Earnings Before Interest, Income Taxes, Depreciation and Amortization for real estate, or Adjusted EBITDAre, represents EBITDArefurther adjusted for items that are not considered part of MAA's core operations such as adjustments related to the fair value of the embedded derivative in the MAA Series I preferred shares, gain or loss on sale of non-depreciable assets, adjustments for gains or losses from unconsolidated limited partnerships, net casualty gain or loss, gain or loss on debt extinguishment, non-routine legal costs and settlements, COVID-19 related costs and mark-to-market debt adjustments. info@myhomesp.com ASSUNTO: NOME*: TELEFONE: EMAIL*: MENSAGEM*: THAT'S MY WAY TO BE @SP. Operating Partnership units at December31. The majority of the storm costs have been reimbursed through insurance coverage. Same Store NOI should not be considered as an alternative to Net income available for MAA common shareholders. For the quarter ended December31, 2020, FFO was $213.4 million, or $1.80 per Share, compared to $198.2 million, or $1.68 per Share, for the quarter ended December31, 2019. Housing | MABTS As of the end of the second quarter of 2022, MAA had five communities under development, representing 1,759 units once complete, with a projected total cost of $444.0 million and an estimated $213.6 million remaining to be funded. Phone:800-430-7999 MAA Results for the year ended December31, 2020, included $2.6 million, or $0.02 per diluted common share, of non-cash income related to the fair value adjustment of the embedded derivative in the preferred shares and $1.0 million, or $0.01 per diluted common share, of gains related to the sale of real estate assets. A reconciliation of FFO, Core FFO, Core AFFO and FAD to net income available for MAA common shareholders, and an expanded discussion of the components of FFO, Core FFO, Core AFFO and FAD, can be found later in this release. In So Paulo, Latin Exclusive offers vacation rentals, long term rentals and sales of luxury apartments, villas and houses. MAA believes that Gross Assets can be used as a helpful tool in evaluating its balance sheet positions. See the "Share and Unit Data" section for additional information. MAA expects to begin multifamily development projects on four to six land parcels currently owned or under contract over the next 18 to 24 months. Because net income attributable to noncontrolling interests is added back, FFO, when used in this document, represents FFO attributable to the Company. MAA expects to update its 2021 Net income per diluted common share, Core FFO per Share and Core AFFO per Share guidance on a quarterly basis. 114th Consecutive Quarterly Common Dividend DeclaredMAA declared its 114th consecutive quarterly common dividend, which will be paid on July 29, 2022 to holders of record on July 15, 2022. (866) 620-1130, Investor Relations Contact: Average Physical Occupancy for the Same Store Portfolio was 95.6% for the year ended December31, 2020, as compared to 95.9% for the prior year. Mid-america Apartment Communities - Forbes A reconciliation of NOI, including Same Store NOI, to net income available for MAA common shareholders, and an expanded discussion of the components of NOI, can be found later in this release. LLC. License: Not Required. EBITDAreshould not be considered as an alternative to Net income as an indicator of operating performance. PDF Earnings Release As an owner and operator of real estate, MAA considers FAD to be an important measure of performance from core operations because FAD measures the ability to control revenues, expenses and total capital expenditures. Entre em contato com a consulado antes de apresentar-se . Here are further demographic highlights of the leadership team: The Mid America Apartments executive team is 34% female and 66% male. Resident turnover remained low as resident move outs for the Same Store Portfolio for the fourth quarter of 2020 was 46.1% on a rolling twelve month basis. Suite 115 [1] {{ userNotificationState.getAlertCount('bell') }}. Net Income Available for Common Shareholders MAA continues to monitor and comply with the various federal, state and local laws, orders and directives issued in response to the COVID-19 pandemic that affect apartment owners and operators. Get contact details including emails and phone numbers Four Russian attack drones hit the centre of the northeastern city of Sumy, hitting two residential apartment blocks and . As an owner and operator of real estate, MAA considers EBITDA to be an important measure of performance from core operations because EBITDA does not include various expense items that are not indicative of operating performance. Explore our MAA Communities in and around this area. The program includes targeted plans to move all units at the properties to higher rents that are expected to deliver yields on cost averaging 8%. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "forecasts," "projects," "assumes," "will," "may," "could," "should," "budget," "target," "outlook," "guidance" and variations of such words and similar expressions are intended to identify such forward-looking statements. Company Description: Mid-America Apartment Communities (MAA) is a self-administered, self-managed real estate investment trust (REIT) that focuses solely on buying multifamily residences. investment performance for shareholders through the ownership, consecutive quarterly cash dividends on common shares since 1994 and delivered a long-term Resident turnover represents resident move outs excluding transfers within the Same Store Portfolio as a percentageof expiring leases on a rolling twelve month basis as of the end of the reported quarter. So Paulo. (866) 576-9689, Transfer Agent Lorem ipsum dolor sit, amet consectetur adipisicing elit. MAA does not forecast Net income per diluted common share on a quarterly basis as MAA generally cannot predict the timing of forecasted acquisition and disposition activity within a particular quarter (rather than during the course of the full year). MAA Announces Taxable Composition of 2021 Distributions - PR Newswire A reconciliation of the following items and an expanded discussion of their respective components can be found later in this release: (i) EBITDA, EBITDAreand Adjusted EBITDAreto Net income; and (ii) Net Debt to Unsecured notes payable and Secured notes payable. 2021 Net Income per Diluted Common Share, Core FFO per Share and Core AFFO per Share GuidanceMAA is providing initial 2021 guidance for Net income per diluted common share, as well as Core FFO per Share, and Core AFFO per Share. MAA completed redevelopment of 911 apartment homes during the fourth quarter of 2020, bringing the total units redeveloped during the year ended December31, 2020 to 4,211 homes, capturing average rental rate increases of approximately 9.5% above non-renovated units. MAA believes that Gross Assets can be used as a helpful tool in evaluating its balance sheet positions. Average Physical OccupancyAverage Physical Occupancy represents the average of the daily physical occupancy for the respective period. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, as described below, which may cause our actual results, performance or achievements to be materially different from the results of operations, financial conditions or plans expressed or implied by such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, as described below, which may cause our actual results, performance or achievements to be materially different from the results of operations, financial conditions or plans expressed or implied by such forward-looking statements. MAA expects to update its 2022 Net income per diluted common share, Core FFO per Share and Core AFFO per Share guidance on a quarterly basis. Development and capital improvements in progress, Accumulated distributions in excess of net income, Noncontrolling interests - Operating Partnership units, Noncontrolling interests - consolidated real estate entities, RECONCILIATION OF FFO, CORE FFO, CORE AFFO AND FAD TO NET INCOME AVAILABLE FOR MAACOMMON SHAREHOLDERS, Amounts in thousands, except per share and unit data, Depreciation and amortization of real estate assets, Depreciation and amortization of real estate assets of real estate joint venture, Funds from operations attributable to the Company, (Income) loss on embedded derivative in preferred shares(1), (Gain) loss from unconsolidated limited partnerships, net of tax(1)(2), Net casualty (gain) loss and other settlement proceeds(1), Non-routine legal costs and settlements(1), FFO weighted average common shares and units - diluted, Funds from operations per Share - diluted, Core funds from operations per Share - diluted, Core adjusted funds from operations per Share - diluted. Vibrant, cultural and contemporary, the giant of South America is fascinating. PDF Mid-america Apartments, L.p. Once all units are delivered and available for occupancy, the community moves into the Lease-up Communities portfolio. MAA expects Core FFO for the first quarter of 2021 to be in the rangeof $1.51 to $1.67 per Share, or $1.59 per Share at the midpoint. The adjustment is primarily included in Other non-operating expense (income). Gross Real Estate AssetsGross Real Estate Assets represents Real estate assets, net plus Accumulated depreciation and Cash and cash equivalents. MAA believes that Gross Real Estate Assets can be used as a helpful tool in evaluating its balance sheet positions. MAA expects Core FFO for the third quarter of 2022to be in the range of$1.99 to $2.15 per Share, or $2.07 perShare at the midpoint. MAA believes that GAAP historical cost depreciation of real estate assets is generally not correlated with changes in the value of those assets, whose value does not diminish predictably over time, as historical cost depreciation implies. Mid-America Apartment Communities ( MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States. EBITDAreFor purposes of calculations in this release, Earnings Before Interest, Income Taxes, Depreciation and Amortization for real estate, or EBITDAre, is composed of EBITDA further adjusted for the gain or loss on sale of depreciable asset sales and plus adjustments to reflect MAA's share of EBITDAreof unconsolidated affiliates. The current annual dividend rate is $4.10 per common share, an increase of 2.5% from the prior year's annual rate of $4.00. Directors and Management MAA | Luxury Apartment Rentals Average Effective Rent per UnitAverage Effective Rent per Unit represents the average of gross rent amounts after the effect of leasing concessions for occupied units plus prevalent market rates asked for unoccupied units, divided by the total number of units. EBITDAre should not be considered as an alternative to Net income as an indicator of operating performance. Non-Same Store and Other PortfolioNon-Same Store and Other Portfolio includes recently acquired communities, communities in development or lease-up, communities that have been identified for disposition, communities that have undergone a significant casualty loss, stabilized communities that do not meet the requirements defined by the Same Store Portfolio, retail properties and commercial properties. As of June30, 2022, MAA had completed installation of the Smart Home technology (unit entry locks, mobile control of lights and thermostat and leak monitoring) in over 67,000 units across its apartment community portfolio since the initiative began during the first quarter of 2019. Open enrollment is the yearly period when employees can enroll in a health insurance, One of the most prevalent headlines in the news these days is the shortage of public school teachers around the, A Health Reimbursement Arrangement (HRA) is a powerful solution that allows plan participants to pay tax-free for medical expenses that, If you feel that the world of health savings can be a bit confusing, youre not alone. These changes resulted in Same Store NOI growth of 1.2% for the year ended December31, 2020 as compared to the prior year. MAA believes Net Debt is a helpful tool in evaluating its debt position. A reconciliation of NOI, including Same Store NOI, to Net income available for MAA common shareholders, and an expanded discussion of the components of NOI, can be found later in this release. These expenditures led to Funds Available for Distribution, or FAD, of $108.9 million for the fourth quarter of 2020, compared to $153.9 million for the same period in the prior year. For purposes of calculations in this release, Earnings Before Interest, Income Taxes, Depreciation and Amortization, or EBITDA, is composed of net income plus depreciation and amortization, interest expense, and income taxes. MAA believes Non-Same Store and Other NOI is a helpful tool in evaluating operating performance because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance. Net Operating Income, or NOI, from the Same Store Portfolio decreased 0.9% during the fourth quarter of 2020 as compared to the same period in the prior year. These expenditures led to Core AFFO of $5.75 per Share for the year ended December31, 2020, compared to $5.64 per Share for the prior year. investor.relations@maac.com The Rating Outlook is Stable. Mid-America Apartment Communities ( MAA -0.14%), one of the premier real estate investment trusts (REITs) specializing in . It does not represent actual rental revenue collected per unit. please contact us at the email address below. Recent work: Multi family rental building inspection (master) 7 bld's 653 unit. Same Store Portfolio lease pricing for leases effective during the fourth quarter of 2020 as compared to the prior lease decreased 2.5% for new leases, increased 5.2% for renewing leases and increased 0.8% for both new and renewing leases on a combined basis. 2023 MidAmerica Administrative & Retirement Solutions, Funds Available for Distribution (FAD)FAD is composed of Core FFO less total capital expenditures, excluding development spending and property acquisitions. Core AFFO is composed of Core FFO less recurring capital expenditures. As an owner and operator of real estate, MAA considers Adjusted EBITDAreto be an important measure of performance from core operations because Adjusted EBITDAredoes not include various income and expense items that are not indicative of operating performance. Adjusted EBITDArein this calculation represents the trailing twelve month period for each date presented. The rollout of the new high-speed bulk cable internet package contributed 0.6% in revenue growth and 0.4% in expense growth for the Same Store Portfolio during the year ended December31, 2020. Physical occupancy for this lease-up project was 79.8% at the end of the fourth quarter of 2020. Property Redevelopment and Repositioning ActivityMAA continued its interior redevelopment program at select apartment communities throughout the portfolio. Open Arms homes are located throughout many of MAA's Communities in the United States. Same Store Portfolio results for the three and six months ended June30, 2022 as compared to the same periods in the prior year are summarized below: Three months ended June30, 2022 vs. 2021. Up to 5 During the fourth quarter of 2020, MAA continued normal operations at its on-site leasing offices, permitting public access and walk-in traffic, subject to social distancing restrictions. numerous business cycles, captured significant growth and built an Same Store NOI should not be considered as an alternative to Net income available for MAA common shareholders. The program includes targeted plans to move all units at the properties to higher rents that are expected to deliver yields on cost averaging 8% beginning in calendar year 2021. Expand All. As of the end of the fourth quarter of 2020, MAA had eight properties under development, representing 2,607 units once complete, with a total projected cost of $595.0 million and an estimated $259.4 million remaining to be funded. Contact MAA - Mid-America Apartment Communities Net Operating Income represents Rental and other property revenues less Total property operating expenses, excluding depreciation and amortization, for all properties held during the period, regardless of their status as held for sale. During the fourth quarter of 2020, MAA redeveloped the interior of 911 units, bringing the total units renovated during the year ended December31, 2020 to 4,211 at an average cost of $6,201 per unit, achieving average rental rate increases of approximately 9.5% above non-renovated units. When is Mid-America Apartment Communities' next earnings announcement? As an owner and operator of real estate, MAA considers FAD to be an important measure of performance from core operations because FAD measures the ability to control revenues, expenses and total capital expenditures. FAD should not be considered as an alternative to Net income available for MAA common shareholders as an indicator of operating performance. FFO represents net income available for MAA common shareholders (calculated in accordance with GAAP) excluding gain or loss on disposition of operating properties and asset impairment, plus depreciation and amortization of real estate assets, net income attributable to noncontrolling interests, and adjustments for joint ventures. The majority of the casualty losses have been reimbursed through insurance coverage. By using this Site, you agree to not: (a) delete, modify, hack or attempt to change or alter any of the Content on the Site; Phone: 855-329-0095 Terms of Service - MAA Core Adjusted Funds from Operations (Core AFFO). Funds From Operations (FFO)FFO represents net income available for MAA common shareholders (calculated in accordance with GAAP) excluding gains or losses on disposition of operating properties and asset impairment, plus depreciation and amortization of real estate assets, net income attributable to noncontrolling interests, and adjustments for joint ventures. Contact Information. In addition, MAA started development of MAA Windmill Hill, a new 350-unit apartment community located in Austin, TX, during the fourth quarter of 2020. In July 2022, MAALP amended its unsecured revolving credit facility, increasing borrowing capacity to $1.25 billion with an option to expand to $2.0 billion. For additional information on the calculation of diluted common shares and earnings per common share, please refer to the Notes to Consolidated Financial Statements in MAA's Annual Report on Form 10-K for the year ended December31, 2020, expected to be filed with the SEC on or about February 18, 2021. Results for the quarter ended December31, 2020, included $17.2 million, or $0.15 per diluted common share, of non-cash income related to the fair value adjustment of the embedded derivative in the MAA Series I preferred shares. Supplemental Material and Conference CallSupplemental data to this release can be found on the "For Investors" page of our website atwww.maac.com. Mid-America Apartment Communities Email Format. Included in Interest expense in the Consolidated Statements of Operations. Same Store Portfolio Operating ResultsTo ensure comparable reporting with prior periods, the Same Store Portfolio includes properties that were stabilized and owned by MAA at the beginning of the previous year. Free Trial NYSE:MAA Mid-America Apartment Communities (MAA) News Today $149.70 +4.06 (+2.79%) (As of 06/26/2023 ET) Compare Today's Range $145.49 $149.86 50-Day Range $144.52 $155.29 52-Week Range $138.68 $190.17 Volume 638,309 shs Average Volume 699,931 shs Market Capitalization $17.46 billion P/E Ratio 26.26 Dividend Yield 3.74%

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