Based in Germantown, Tennessee, Mid-America Apartment Communities, Inc. (MAA) is a leading real estate investment trust (REIT) specializing in residential property management and development. With a market cap of $18.4 billion, MAA owns and operates high-quality apartment communities across the Sunbelt region, providing modern living spaces and exceptional service to residents while delivering long-term value to investors.
Shares of this residential REIT giant have outperformed the broader market over the past year. MAA has gained 25.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 22.8%. However, in 2025, MAA’s stock rose 2.8%, lagging behind SPX’s 4.5% rise on a YTD basis.
Zooming in further, MAA has outperformed the Real Estate Select Sector SPDR Fund’s (XLRE) 10.5% gain over the past 52 weeks.
On Feb. 5, MAA shares rose 1.5% following its Q4 earnings release. Despite weaker-than-expected FFO per share of $2.23 and revenues of $549.8 million, management projected core FFO per share for 2025 in the range of $8.61 to $8.93, with improving rent growth expected as new supply deliveries peak and market conditions tighten. Additionally, strong portfolio activity, low resident turnover at 42%, and a healthy balance sheet with $1 billion in liquidity boosted investor confidence.
For the current fiscal year, ending in December 2025, analysts expect MAA’s FFO to decline marginally to $8.84. The company’s earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters while missing the forecast on two other occasions.
Among the 27 analysts covering MAA stock, the consensus is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, two “Moderate Buy,” 11 “Holds,” and three “Strong Sells.”
This configuration is more bullish than three months ago, with nine analysts suggesting a “Strong Buy” rating.
On Feb. 19, Barclays analyst Richard Hightower raised MAA's price target to $163 from $152 while maintaining an “Equal Weight” rating.
As of writing, MAA is trading below the mean price target of $163.77. The Street-high target price of $184 suggests the stock could rally as much as 16.9%.
