Analyst Consensus ?
ConsensusHold35 ratings
Bullish1748.6%
Neutral1645.7%
Bearish25.7%
Mid-America Apartment Communities, Inc. · MAA · FY2026 Q2 · Calendar Q3 2026
MAA Keeps FFO Guidance as Demand Holds, Revenue Outlook Eases
MAA's Q2 evidence supports a resilient-demand thesis: absorption, turnover, expense control, renovations, and Wi-Fi initiatives were constructive. The case is tempered by lower revenue assumptions, slower new-lease pricing, market-specific supply pressure, and financing needs.
Reported After market closeNYSEReal Estate
$13.87B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.07
Consensus $0.76
EPS surprise
+41.0%
Reported versus consensus
Reported revenue
$555.1M
Consensus $556.2M
Revenue surprise
-0.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-3.0%
Event window
SPY move
+1.7%
Same window
Abnormal move
-4.6%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-3.4%
Up to 20 sessions
MAASPY benchmark
Ask FN2 about MAA FY2026 Q2
Transcript, numbers and history already loaded
Why did MAA fall 3.0% after beating EPS estimates in FY2026 Q2?What changed in MAA's guidance and outlook in FY2026 Q2?Give me the bull and bear case for MAA after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management highlighted stronger demand indicators and expanded the development pipeline, while moving to an increasing capex outlook. Revenue assumptions were trimmed even as core FFO guidance stayed intact; planned starts and renovation and Wi-Fi initiatives were advanced.
Guidance delta
Full-year core FFO guidance was maintained, while revenue assumptions were lowered.
Key takeaways
- Management described resilient demand, strong absorption, and record-low turnover.
- Expense discipline, renovations, and community Wi-Fi supported operating performance.
- The development pipeline expanded, but supply and slower new-lease pricing remain constraints.
Management priorities
- Advance planned development starts and expand the development pipeline.
- Accelerate interior unit upgrades and community Wi-Fi rollout.
- Continue redevelopment while balancing development, repurchases, and acquisitions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$119.1Current
$123Low
$150.33Average
$225High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | In Line | Maintain | Sep 21, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 17, 2026 |
| Scotiabank | Sector Underperform | Sector Underperform | Maintain | Sep 17, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 8, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 1, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 17, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 12, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Aug 3, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 31, 2026 |
| UBS | Neutral | Neutral | Maintain | May 14, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 6, 2026 |
| BTIG | Buy | Buy | Maintain | Mar 2, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Feb 11, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Feb 6, 2026 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jan 9, 2026 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | May 22, 2025 |
| Raymond James | Outperform | Strong Buy | Downgrade | May 15, 2025 |
| Baird | Neutral | Neutral | Maintain | May 1, 2025 |
| Jefferies | Buy | Hold | Upgrade | Mar 10, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 10, 2024 |
| B of A Securities | Buy | Underperform | Upgrade | Aug 12, 2024 |
| Wedbush | Outperform | Outperform | Maintain | Aug 5, 2024 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Jun 13, 2024 |
| Colliers Securities | Buy | Neutral | Upgrade | Nov 28, 2023 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | May 15, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 19, 2023 |
| Credit Suisse | Neutral | Outperform | Downgrade | Jan 9, 2023 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | Jun 18, 2020 |
| Janney Capital | Neutral | Buy | Downgrade | Apr 4, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Aug 3, 2018 |
| Stifel | Hold | Buy | Downgrade | Aug 3, 2018 |
| BTIG Research | Neutral | Buy | Downgrade | May 31, 2018 |
| DA Davidson | Buy | Neutral | Upgrade | Oct 17, 2016 |
| Oppenheimer | Overweight | Overweight | Maintain | Feb 4, 2016 |
| Hilliard Lyons | Neutral | Buy | Downgrade | Apr 10, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $119.1. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Steve Sakwa | $123 | $118.36 | +3.3% | Sep 21, 2026 |
| Scotiabank | Analyst unavailable | $125 | $121.76 | +5.0% | Sep 17, 2026 |
| Truist Financial | Michael Lewis | $132 | $121.9 | +10.8% | Sep 17, 2026 |
| UBS | Analyst unavailable | $129 | $125.6 | +8.3% | Sep 15, 2026 |
| Evercore ISI | Analyst unavailable | $129 | $124.79 | +8.3% | Sep 14, 2026 |
| Mizuho Securities | Analyst unavailable | $140 | $128.32 | +17.5% | Sep 8, 2026 |
| Wells Fargo | James Feldman | $146 | $128.85 | +22.6% | Sep 1, 2026 |
| Barclays | Analyst unavailable | $146 | $133.49 | +22.6% | Aug 17, 2026 |
| Morgan Stanley | Adam Kramer | $147 | $131.74 | +23.4% | Aug 12, 2026 |
| Scotiabank | Analyst unavailable | $134 | $132.05 | +12.5% | Aug 4, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $140 | $133.8 | +17.5% | Aug 3, 2026 |
| Evercore ISI | Analyst unavailable | $130 | $134.87 | +9.2% | Jul 30, 2026 |
| Wells Fargo | James Feldman | $148 | $132.24 | +24.3% | Jul 22, 2026 |
| Piper Sandler | Analyst unavailable | $143 | $133.71 | +20.1% | Jul 21, 2026 |
| Deutsche Bank | Analyst unavailable | $137 | $133.71 | +15.0% | Jul 20, 2026 |
| Barclays | Analyst unavailable | $147 | $135.89 | +23.4% | Jul 14, 2026 |
| Scotiabank | Analyst unavailable | $137 | $137.05 | +15.0% | Jul 9, 2026 |
| Morgan Stanley | Adam Kramer | $155 | $137.36 | +30.1% | Jun 25, 2026 |
| Scotiabank | Nicholas Yulico | $129 | $133.89 | +8.3% | Jun 18, 2026 |
| Mizuho Securities | Analyst unavailable | $152 | $138.91 | +27.6% | Jun 10, 2026 |
| Evercore ISI | Analyst unavailable | $132 | $137.6 | +10.8% | Jun 8, 2026 |
| Morgan Stanley | Adam Kramer | $150 | $126.58 | +25.9% | May 15, 2026 |
| UBS | Analyst unavailable | $132 | $128.71 | +10.8% | May 14, 2026 |
| Scotiabank | Nicholas Yulico | $120 | $129.34 | +0.8% | May 14, 2026 |
| Barclays | Analyst unavailable | $139 | $129.31 | +16.7% | May 11, 2026 |
| Cantor Fitzgerald | Richard Anderson | $132 | $128.56 | +10.8% | May 4, 2026 |
| Barclays | Richard Hightower | $137 | $125.66 | +15.0% | Apr 27, 2026 |
| Truist Financial | Anthony Hau | $142 | $129.97 | +19.2% | Mar 10, 2026 |
| KeyBanc | Austin Wurschmidt | $155 | $137.32 | +30.1% | Feb 11, 2026 |
| Cantor Fitzgerald | Richard Anderson | $141 | $132.11 | +18.4% | Feb 9, 2026 |
| RBC Capital | Analyst unavailable | $136 | $131.02 | +14.2% | Feb 6, 2026 |
| Colliers Securities | Analyst unavailable | $145 | $130.72 | +21.7% | Feb 6, 2026 |
| Goldman Sachs | Analyst unavailable | $139 | $135.38 | +16.7% | Jan 21, 2026 |
| Barclays | Analyst unavailable | $144 | $133.42 | +20.9% | Jan 13, 2026 |
| Mizuho Securities | Analyst unavailable | $150 | $135.47 | +25.9% | Jan 12, 2026 |
| BMO Capital | Analyst unavailable | $158 | $138.54 | +32.7% | Jan 9, 2026 |
| UBS | Michael Goldsmith | $134 | $134.98 | +12.5% | Jan 8, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $137 | $139.13 | +15.0% | Jan 5, 2026 |
| Evercore ISI | Analyst unavailable | $143 | $132.6 | +20.1% | Dec 15, 2025 |
| Scotiabank | Analyst unavailable | $142 | $132.86 | +19.2% | Dec 5, 2025 |
| Wells Fargo | Analyst unavailable | $150 | $135.07 | +25.9% | Nov 25, 2025 |
| Barclays | Richard Hightower | $142 | $133.31 | +19.2% | Nov 25, 2025 |
| Mizuho Securities | Analyst unavailable | $146 | $133.61 | +22.6% | Nov 24, 2025 |
| Truist Financial | Michael Lewis | $146 | $129.38 | +22.6% | Nov 10, 2025 |
| Evercore ISI | Analyst unavailable | $144 | $126.36 | +20.9% | Nov 3, 2025 |
| Piper Sandler | Alexander Goldfarb | $140 | $128.23 | +17.5% | Nov 3, 2025 |
| Evercore ISI | Steve Sakwa | $153 | $134.94 | +28.5% | Oct 13, 2025 |
| Wells Fargo | Analyst unavailable | $157 | $134.55 | +31.8% | Oct 13, 2025 |
| Cantor Fitzgerald | Richard Andeson | $150 | $139.73 | +25.9% | Oct 1, 2025 |
| Barclays | Analyst unavailable | $155 | $138.61 | +30.1% | Sep 30, 2025 |
| Evercore ISI | Analyst unavailable | $154 | $142.2 | +29.3% | Sep 15, 2025 |
| RBC Capital | Brad Heffern | $158 | $148.26 | +32.7% | Jan 9, 2025 |
| Raymond James | Strong Buy | $175 | $154.59 | +46.9% | Oct 21, 2024 |
| BTIG | Michael Gorman | $160 | $152.69 | +34.3% | Oct 17, 2024 |
| Deutsche Bank | Omotayo Okusanya | $163 | $160.3 | +36.9% | Sep 10, 2024 |
| Truist Financial | Michael Lewis | $167 | $156.66 | +40.2% | Aug 26, 2024 |
| Scotiabank | Nicholas Yulico | $161 | $156.66 | +35.2% | Aug 26, 2024 |
| Bank of America Securities | Joshua Dennerlein | $189 | $153.07 | +58.7% | Aug 12, 2024 |
| Scotiabank | Nicholas Yulico | $226 | $172.53 | +89.8% | May 19, 2022 |
| RBC Capital | Analyst unavailable | $222 | $206.13 | +86.4% | Apr 29, 2022 |
| Raymond James | Buck Horne | $225 | $202.42 | +88.9% | Nov 2, 2021 |
| Piper Sandler | Alexander Goldfarb | $235 | $203.18 | +97.3% | Oct 29, 2021 |
| Goldman Sachs | Chandni Luthra | $202 | $189.27 | +69.6% | Sep 23, 2021 |
| Jefferies | Jonathan Petersen | $205 | $181.68 | +72.1% | Jul 15, 2021 |
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Start freeCompany context
Snapshot as of publicationMid-America Apartment Communities, known as MAA, is a prominent S&P 500 entity operating as a Real Estate Investment Trust (REIT). Its core objective is to generate outstanding, comprehensive investment returns for its shareholders. MAA achieves this by strategically acquiring, developing, redeveloping, owning, and managing high-quality apartment complexes. These properties are primarily located across the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, the company held an interest in 102,772 apartment units, a figure that includes communities currently under development, spread throughout 16 states and the District of Columbia.
Historical context
All MAA earningsLatest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
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One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-30T18:08:43.237780+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-09-23T13:30:54.912395+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T13:30:54.909284+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.