MID AMERICA APARTMENT COMMUNITIES INC.
For the period ended Jun 30, 2025. Filed Jul 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 31, 2025
Contents
Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024
Condensed Consolidated Balance Sheets
(Dollars in thousands, except per share data)
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Real estate assets: | ||
| Land | $2,105,602 | $2,096,912 |
| Buildings and improvements and other | 14,468,733 | 14,160,799 |
| Development and capital improvements in progress | 484,955 | 470,282 |
| 17,059,290 | 16,727,993 | |
| Less: Accumulated depreciation | (5,631,399) | (5,327,584) |
| 11,427,891 | 11,400,409 | |
| Undeveloped land | 73,359 | 73,359 |
| Investment in real estate joint venture | 41,662 | 41,650 |
| Real estate assets, net | 11,542,912 | 11,515,418 |
| Cash and cash equivalents | 54,482 | 43,018 |
| Restricted cash | 13,634 | 13,743 |
| Other assets | 224,569 | 232,426 |
| Assets held for sale | — | 7,764 |
| Total assets | $11,835,597 | $11,812,369 |
| Liabilities and equity | ||
| Liabilities: | ||
| Unsecured notes payable, net | $4,687,813 | $4,620,690 |
| Secured notes payable, net | 360,330 | 360,267 |
| Accrued expenses and other liabilities | 697,054 | 683,748 |
| Total liabilities | 5,745,197 | 5,664,705 |
| Redeemable common stock | 21,135 | 22,230 |
| Shareholders’ equity: | ||
| Preferred stock, $0.01 par value per share, 20,000,000 shares authorized; 8.50% Series I Cumulative Redeemable Shares, liquidation preference $50.00 per share, 867,846 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 9 | 9 |
| Common stock, $0.01 par value per share, 145,000,000 shares authorized; 117,071,410 and 116,883,421 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively (1) | 1,168 | 1,166 |
| Additional paid-in capital | 7,431,627 | 7,417,453 |
| Accumulated distributions in excess of net income | (1,535,340) | (1,469,557) |
| Accumulated other comprehensive loss | (6,110) | (6,940) |
| Total MAA shareholders’ equity | 5,891,354 | 5,942,131 |
| Noncontrolling interests - OP Units | 147,439 | 155,409 |
| Total Company’s shareholders’ equity | 6,038,793 | 6,097,540 |
| Noncontrolling interests - consolidated real estate entities | 30,472 | 27,894 |
| Total equity | 6,069,265 | 6,125,434 |
| Total liabilities and equity | $11,835,597 | $11,812,369 |
(1)
Number of shares issued and outstanding represents total shares of common stock regardless of classification on the Condensed Consolidated Balance Sheets. The number of shares classified as redeemable common stock on the Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 are 142,797 and 143,822, respectively.
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