Mid-America Apartment Communities, Inc (NYSE:MAA) Q4 2023 Results Conference Call February 8, 2024 10:00 AM ET Company Participants Andrew Schaeffer - Senior Vice President, Treasurer & Director, Capital Markets Eric Bolton - Chairman & Chief Executive Officer Brad Hill - Executive Vice President & Chief Investment Officer Tim Argo - Executive Vice President, Chief Strategy & Analysis Officer Clay Holder - Senior Vice President & Chief Accounting Officer Al Campbell - Executive Vice President & Chief Finan ...

财务数据和关键指标变化 - 第三季度核心FFO为每股2.29美元,超出指引中值0.03美元 [49] - 总收入增长预期保持不变,但同店运营费用增长预期上调45个基点至6.5% [60] - 总管理费用预期下调200万美元至1.265亿美元 [62] 各条业务线数据和关键指标变化 - 同店收入增长4.1%,主要受到新租金价格下降的影响 [36] - 平均实际入住率95.7%,较上季度有所上升 [36] - 续租租金增长5%,新租金下降2.2% [36] - 住户周转率同比下降4% [37] - 公司正在进行各种产品升级和改造项目,第三季度完成近2,300个单元的内部装修升级 [46] 各个市场数据和关键指标变化 - 奥斯汀和凤凰城等大市场受到新供给压力较大,新租金价格下降幅度较大 [145] - 萨凡纳、查尔斯顿、里士满、格林维尔和罗利等中型市场表现优于大市场 [44] - 亚特兰大市场受到欺诈问题的影响,公司采取了一系列措施来应对 [199][202] 公司战略和发展方向及行业竞争 - 公司认为未来12-18个月内将有更多收购机会出现,目前已有13个地块可开发约3,700个单元 [32] - 公司将保持谨慎和纪律,控制开发时机,以应对高利率环境下的市场变化 [192] - 公司认为未来供给将在2025年后大幅下降,到时将迎来更好的租赁环境 [18][31] - 公司的多元化布局、较低的租金水平和经验丰富的运营团队将有助于抵御供给压力 [11][19] 管理层对经营环境和未来前景的评论 - 公司认为当前的高利率环境可能会持续一段时间,这导致开发商加大了租赁优惠力度 [40][128] - 公司预计未来几个季度新租金价格将继续承压,但到2024年下半年将有所好转 [18][151] - 公司认为长期来看,其市场多元化和较低的租金水平将有助于抵御供给压力 [11][19] - 公司对未来的收购和开发机会持乐观态度,将保持谨慎和纪律 [192] 问答环节重要的提问和回答 问题1 **Michael Goldsmith 提问** 询问开发商的竞争行为对公司的影响 [65] **Tim Argo 回答** 开发商为了尽快稳定租赁,采取了更加积极的租赁优惠政策,导致公司新租金价格下降 [66][67] 问题2 **Joshua Dennerlein 提问** 询问公司是否预计开发商的竞争行为会在2024年进一步加剧 [127] **Eric Bolton 回答** 公司认为未来几个季度开发商的竞争行为可能会持续,但不会大幅恶化 [128][133][134] 问题3 **John Kim 提问** 询问高利率环境下对租赁需求和业主行为的影响 [115] **Eric Bolton 回答** 高利率环境下,开发商更加急于尽快稳定租赁,导致了更加积极的租赁优惠政策 [116][117][128]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12762 (Mid-America Apartment Communities, Inc.) Commission File Number: 333-190028-01 (Mid-America Apartments, L.P.) MID ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12762 (Mid-America Apartment Communities, Inc.) Commission File Number: 333-190028-01 (Mid-America Apartments, L.P.) MID-AMER ...

Mid-America Apartment Communities, Inc. (NYSE:MAA) Q2 2023 Results Conference Call July 27, 2023 10:00 AM ET Company Participants Andrew Schaeffer - SVP, Treasurer & Director, Capital Markets Eric Bolton - President, CEO Tim Argo - Chief Strategy & Analysis Officer Al Campbell - CFO Rob DelPriore - CAO, General Counsel Brad Hill - CIO Conference Call Participants Eric Wolfe - Citi Alex Goldfarb - Piper Sandler Anthony Powell - Barclays Austin Wurschmidt - KeyBanc Brad Heffern - RBC Capital Markets Jamie F ...

Capital Markets Update May 2023 ...

Mid-America Apartment Communities, Inc. (NYSE:MAA) Q1 2023 Earnings Conference Call April 27, 2023 10:00 AM ET Company Participants Andrew Schaeffer - Senior Vice President, Treasurer & Director, Capital Markets Eric Bolton - Chairman & Chief Executive Officer Tim Argo - Executive Vice President, Chief Strategy & Analysis Officer Brad Hill - Executive Vice President & Chief Investment Officer Al Campbell - Executive Vice President, Chief Financial Officer Conference Call Participants John Kim - BMO Capital ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12762 (Mid-America Apartment Communities, Inc.) Commission File Number: 333-190028-01 (Mid-America Apartments, L.P.) MID-AME ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission File Number 001-12762 (Mid-America Apartment Communities, Inc.) Commission File Number 333-190028-01 (Mid-America Apartments, ...

Mid-America Apartment Communities, Inc. (NYSE:MAA) Q4 2022 Earnings Conference Call February 2, 2023 10:00 AM ET Company Participants Eric Bolton - Chairman and CEO Albert Campbell - Executive VP, CFO Rob DelPriore - Executive VP, CAO and General Counsel Brad Hill - Executive VP, Chief Investment Officer Tim Argo - Executive VP, Chief Strategy and Analysis Officer Andrew Schaeffer - Senior VP, Treasurer and Director of Capital Markets Conference Call Participants Nick Yulico - Scotiabank Alexander Goldfarb ...