MAA REPORTS FIRST QUARTER 2026 RESULTS

About this update from Mid-america Apartment Communities, Inc.

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","length":125,"tagName":"p","attribs":{}}]}]}],"length":128},{"type":"text","content":"Brad Hill, President and Chief Executive Officer, said, "We are encouraged by our first quarter results, with Core FFO exceeding our expectations, driven in part by focus on expense management and strong resident retention. Our blended lease-over-lease pricing was ahead of our performance last year, and we have now seen five consecutive quarters of improving year-over-year blended rent performance. Demand has held up well across our footprint, with absorption outpacing deliveries and market level occupancies increasing during the quarter. Our teams are executing with discipline, focusing on expense management while delivering a great resident experience. This focus combined with a low level of move outs to buy a home is driving strong retention, pushing our trailing twelve-month resident turnover to the lowest level in our history. We're optimistic about the growth opportunities ahead in our high-demand markets as the supply–demand fundamentals continue to improve."","length":994,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"During the first quarter of 2026, MAA's Same Store effective blended lease rate growth was -0.3%, a 20 basis point improvement over the same period in the prior year as well as a 140 basis point improvement on a sequential basis, driven by a 110 basis point improvement in new lease pricing and a 70 basis point improvement in renewal pricing from the fourth quarter of 2025.","length":379,"tagName":"p"}]},{"val":[{"type":"text","content":"As of March 31, 2026, resident turnover in the Same Store Portfolio remained historically low at 39.9% with a low level of move-outs associated with buying single-family homes of 11.1% for the quarter.","length":206,"tagName":"p"}]},{"val":[{"type":"text","content":"During the first quarter of 2026, MAA completed the development of MAA Breakwater located in Tampa, Florida and MAA Liberty Row located in Charlotte, North Carolina.","length":165,"tagName":"p"}]},{"val":[{"type":"text","content":"During the first quarter of 2026, Mid-America Apartments, L.P. (MAALP), MAA's operating partnership, issued $200.0 million of 7-year unsecured senior notes at a coupon of 4.650% with an issue price of 100.237%.","length":214,"tagName":"p"}]},{"val":[{"type":"text","content":"During the first quarter of 2026, MAA repurchased 0.6 million shares of its common stock at a weighted average share price of $130.46 for total consideration of approximately $73 million.","length":187,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1151,"olType":false},{"type":"readMore"},{"type":"text","content":" Same Store Operating Results Same Store results for the three months ended March 31, 2026 as compared to the same period in the prior year are summarized below:","length":165,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.83em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" 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","length":276,"tagName":"p","attribs":{}}]}]}],"length":358},{"type":"text","content":" 129th Consecutive Quarterly Common Dividend Declared MAA declared its 129th consecutive quarterly common dividend, which will be paid on April 30, 2026 to holders of record on April 15, 2026. The current annual dividend rate is $6.12 per common share. The timing and amount of future dividends will depend on actual cash flows from operations, MAA's financial condition, capital requirements, the annual distribution requirements under the REIT provisions of the Internal Revenue Code of 1986 and other factors as MAA's Board of Directors deems relevant. MAA's Board of Directors may modify the dividend policy from time to time.","length":641,"tagName":"p"},{"type":"text","content":" 2026 Earnings and Same Store Guidance MAA is updating its prior 2026 guidance for Earnings per diluted common share, Core FFO per diluted Share, Core AFFO per diluted Share and Same Store performance. 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