With a market cap of $17.4 billion, Mid-America Apartment Communities, Inc. (MAA) is a REIT specializing in the ownership, management, acquisition, development, and redevelopment of high-quality multifamily apartment communities. Focused primarily on the Southeast, Southwest, and Mid-Atlantic regions of the U.S., MAA targets high-growth markets to deliver strong, full-cycle investment performance.
Companies worth more than $10 billion are generally labeled as “large-cap” stocks, and MAA fits this criterion perfectly. As of March 31, 2025, the company held ownership interests in 104,011 apartment units across 16 states and the District of Columbia.
Despite this, the Memphis, Tennessee-based company has dipped 14.3% from its 52-week high of $173.38. MAA stock has decreased 8.6% over the past three months, a more pronounced decline than the Real Estate Select Sector SPDR Fund’s (XLRE) marginal drop during the same period.
Longer term, the company’s shares have fallen 3.9% on a YTD basis, lagging behind XLRE's 2.9% gain. Moreover, MAA stock has increased nearly 6% over the past 52 weeks, compared to XLRE's nearly 9% return over the same time frame.
The stock has been trading below its 50-day and 200-day moving averages since mid-May.
Despite reporting weaker-than-expected Q1 2025 revenue of $549.3 million on Apr. 30, shares of MAA rose 1.5% the next day due to a core FFO of $2.20 per share, which beat expectations. Robust operating metrics, including a 95.6% average same-store occupancy and record-low 41.5% resident turnover, signaled solid demand. The management highlighted sequential improvement in same-store blended lease pricing, outperforming last year’s trend by 70 bps, which bolstered confidence heading into the high-demand leasing season.
In comparison, rival Equity Residential (EQR) has underperformed MAA stock, with EQR shares rising 1.7% over the past 52 weeks.
Despite the stock’s underperformance relative to the sector, analysts are moderately optimistic, with a consensus rating of "Moderate Buy" from 27 analysts. It is currently trading below the mean price target of $170.23.
