MAA Earnings Prediction
The chart below shows how MAA performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MAA sees a -0.44% change in stock price 10 days leading up to the earnings, and a +1.92% change 10 days following the report. On the earnings day itself, the stock moves by -0.06%. This data can give you a slight idea of what to expect for the next quarter's release.
MAA Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
549.83M
1.40%
-0.23%
Gross Margin
59.53%
-3.06%
1.80%
Operating Margin
29.54%
-9.44%
-0.03%
Net Margin
31.11%
2.34%
45.03%
EPS
1.42
3.65%
44.90%
No Data Available
MAA Earnings Analysis
Mid-America Apartment Communities Inc Corporation (MAA.N) Earnings Conference Call
Positive
Core FFO Performance: Core FFO for the fourth quarter was reported at $2.23 per share, contributing to a full year total of $8.88 per share, aligning with guidance expectations.
Same Store Revenue Increase: Same store revenue for the full year increased by 0.5%, supported by strong occupancy levels averaging 95.6% and low net delinquency at just 0.3% of billed rents.
Interior Unit Upgrades: During 2024, the company completed 5,665 interior unit upgrades, achieving an average rent increase of $106 above non-upgraded units, with plans to renovate closer to 6,000 units in 2025.
Property Acquisition and Projections: The company closed on three properties in 2024, averaging 65% occupancy at closing, projected to deliver NOI yields of 5.9% upon stabilization in 2025 and 2026.
Strong Financial Position: The balance sheet remains strong with over $1 billion in combined cash and borrowing capacity, supporting future investments and maintaining low leverage with net debt to EBITDA at four times.
Negative
Lease Pricing Decline: New lease pricing on a lease over lease basis for the fourth quarter was down 8%, a decline of 260 basis points from the third quarter, indicating significant pricing pressure in the market.
Same Store Revenue Decline: Same store revenue decreased by 0.2% for the fourth quarter, reflecting challenges in maintaining revenue growth amid high competition and new supply.
Decline in Same Store NOI: Projected same store NOI is expected to decline by 1.15% at the midpoint for 2025, driven by a combination of low revenue growth and rising operating expenses.
Projected Core FFO Decline: Core FFO for 2025 is projected to be lower than 2024, with a midpoint guidance of $8.77 per share compared to $8.88 per share in 2024, indicating a potential decline in earnings.
Bond Refinancing Impact: The anticipated refinancing of $400 million in bonds is expected to result in $0.03 of dilution to core FFO due to an increase in effective interest rates from 4.2% to 5%.
MAA FAQs
How does MAA typically perform around its earnings report dates?
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MAA Earning Call Sentiment
Earnings call transcript: Mid-America Apartment Q4 2024 beats EPS forecast
MAA.N
0.37%Positive
The earnings call summary presents a mixed picture: while there are strong financial metrics like fixed debt and development yields, there's weak guidance in areas such as effective rent growth and same-store NOI. The Q&A section highlights concerns about new lease pricing and unclear management responses, particularly on immigration policy. The overall sentiment is balanced by positive aspects like redevelopment initiatives and strategic acquisitions, leading to a neutral outlook for the stock price over the next two weeks.
