Mid-America Apartment Communities, Inc. — Third Quarter 2026 Earnings Summary

Mid-America Apartment Communities reported third-quarter 2026 diluted earnings per share of $0.72 and Core FFO per share of $2.10, reflecting disciplined expense management and a 5.3% increase in renewal lease pricing. The company's Same Store Portfolio experienced a 0.4% growth in effective blended lease rates while maintaining a historically low resident turnover rate of 39.6% as of September 30, 2026. MAA updated its full-year 2026 guidance, lowering the expected range for diluted earnings per share to $3.61–$3.73 and Same Store NOI growth to -1.70% to -0.80% due to higher interest rates and delayed pricing improvements. During the quarter, the company completed the lease-up of two communities, began construction on new developments, and repurchased $50.0 million of common stock while redeeming its Series I preferred shares.