2024 Q1 Form 10-K Financial Statement

#000095017024013275 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $543.6M $542.2M $2.148B
YoY Change 2.76% 2.71% 6.37%
Cost Of Revenue $217.8M $209.2M $835.9M
YoY Change 8.5% 5.57% 5.93%
Gross Profit $325.8M $333.0M $1.313B
YoY Change -0.75% 0.98% 6.65%
Gross Profit Margin 59.94% 61.41% 61.09%
Selling, General & Admin $17.05M $15.25M $58.58M
YoY Change 7.05% 3.44% -0.43%
% of Gross Profit 5.23% 4.58% 4.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $143.3M $141.1M $565.9M
YoY Change 3.24% 1.78% 4.02%
% of Gross Profit 43.97% 42.36% 43.11%
Operating Expenses $160.1M $156.1M $623.6M
YoY Change 3.65% 2.06% 3.62%
Operating Profit $165.8M $176.9M $688.9M
YoY Change -4.67% 0.05% 9.54%
Interest Expense $40.36M -$15.26M $149.2M
YoY Change 8.26% -71.54% -3.56%
% of Operating Profit 24.35% -8.63% 21.66%
Other Income/Expense, Net $23.53M $1.438M $31.19M
YoY Change 578.57% -331.19% -173.01%
Pretax Income $148.9M $165.5M $570.8M
YoY Change 6.27% -16.43% -11.77%
Income Tax $1.795M $1.148M $4.744M
% Of Pretax Income 1.21% 0.69% 0.83%
Net Earnings $143.7M $159.5M $552.8M
YoY Change 5.77% -17.18% -13.28%
Net Earnings / Revenue 26.44% 29.41% 25.73%
Basic Earnings Per Share $1.22 $4.71
Diluted Earnings Per Share $1.22 $1.37 $4.71
COMMON SHARES
Basic Shares Outstanding 116.7M 116.7M 116.5M
Diluted Shares Outstanding 116.8M 116.6M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.20M $59.91M $41.31M
YoY Change -55.37% 28.41% 6.87%
Cash & Equivalents $54.60M $41.31M $41.31M
Short-Term Investments $15.60M $18.60M
Other Short-Term Assets
YoY Change
Inventory $73.86M $73.86M $73.86M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $128.5M $115.2M $115.2M
YoY Change -40.6% 11.85% 11.85%
LONG-TERM ASSETS
Property, Plant & Equipment $11.07B $11.07B $11.07B
YoY Change 1.31% 1.32% 1.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $96.98M $41.98M $41.98M
YoY Change 33.89% -46.86% -46.86%
Other Assets $13.48M $13.78M $13.78M
YoY Change -0.96% -38.53% -38.53%
Total Long-Term Assets $11.34B $11.37B $11.37B
YoY Change 1.85% 2.08% 2.08%
TOTAL ASSETS
Total Short-Term Assets $128.5M $115.2M $115.2M
Total Long-Term Assets $11.34B $11.37B $11.37B
Total Assets $11.47B $11.48B $11.48B
YoY Change 1.04% 2.16% 2.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $569.8M $645.2M $645.2M
YoY Change 0.66% 4.76% 4.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $569.8M $645.2M $645.2M
YoY Change 0.66% 4.76% 4.76%
LONG-TERM LIABILITIES
Long-Term Debt $4.624B $4.540B $4.540B
YoY Change 5.21% 2.84% 2.84%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.624B $4.540B $4.540B
YoY Change 5.21% 2.84% 2.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $569.8M $645.2M $645.2M
Total Long-Term Liabilities $4.624B $4.540B $4.540B
Total Liabilities $5.194B $5.185B $5.371B
YoY Change 4.69% 3.07% 2.99%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.072B $6.094B $6.113B
YoY Change
Total Liabilities & Shareholders Equity $11.47B $11.48B $11.48B
YoY Change 1.04% 2.16% 2.16%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $143.7M $159.5M $552.8M
YoY Change 5.77% -17.18% -13.28%
Depreciation, Depletion And Amortization $143.3M $141.1M $565.9M
YoY Change 3.24% 1.78% 4.02%
Cash From Operating Activities $200.3M $264.9M $1.137B
YoY Change -8.27% 5.46% 7.44%
INVESTING ACTIVITIES
Capital Expenditures $97.63M $338.1M $762.8M
YoY Change -30.72% 135.44% 3.12%
Acquisitions
YoY Change
Other Investing Activities $4.621M -$8.533M -$12.43M
YoY Change 82.07% -105.58% -103.72%
Cash From Investing Activities -$93.01M -$346.8M -$775.3M
YoY Change -32.79% -3798.01% 91.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $205.1M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -94.26M -38.50M -367.9M
YoY Change -727.52% -84.78% -49.1%
NET CHANGE
Cash From Operating Activities 200.3M 264.9M 1.137B
Cash From Investing Activities -93.01M -346.8M -775.3M
Cash From Financing Activities -94.26M -38.50M -367.9M
Net Change In Cash 12.99M -120.4M -5.980M
YoY Change -86.32% -1701.44% -91.4%
FREE CASH FLOW
Cash From Operating Activities $200.3M $264.9M $1.137B
Capital Expenditures $97.63M $338.1M $762.8M
Free Cash Flow $102.6M -$73.24M $374.4M
YoY Change 32.61% -168.1% 17.45%

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CY2023 maa Effect On Retained Earnings Accumulated Deficit Due To Fair Value Option And Measurement
EffectOnRetainedEarningsAccumulatedDeficitDueToFairValueOptionAndMeasurement
3058000
CY2023 maa Amortization Unearned Compensation
AmortizationUnearnedCompensation
18198000
CY2023 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
3688000
CY2023 maa Distributions
Distributions
679447000
CY2023 maa Acquisition Of Noncontrolling Interests
AcquisitionOfNoncontrollingInterests
15757000
CY2023 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
2630000
CY2023Q4 us-gaap Partners Capital
PartnersCapital
6279936000
CY2023Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
290
CY2023Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16
CY2023Q4 us-gaap Real Estate Investments Joint Ventures
RealEstateInvestmentsJointVentures
33600000
CY2023Q4 maa Marketable Equity Securities Received
MarketableEquitySecuritiesReceived
7700000
CY2022Q4 maa Marketable Equity Securities Received
MarketableEquitySecuritiesReceived
18000000
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
18600000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
8000000
CY2023 us-gaap Investment Income Net
InvestmentIncomeNet
2900000
CY2022 us-gaap Investment Income Net
InvestmentIncomeNet
10000000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
27344000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28671000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
645156000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
615843000
CY2023 maa Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.94
CY2023 maa Percentage Of Reimbursable Revenue From Leasing Of Apartment Homes
PercentageOfReimbursableRevenueFromLeasingOfApartmentHomes
0.05
CY2023 maa Percentageof Rental Revenueand Other Income From Nonleasing Activities
PercentageofRentalRevenueandOtherIncomeFromNonleasingActivities
0.01
CY2023 us-gaap Advertising Expense
AdvertisingExpense
26600000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
24400000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
23900000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42500000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
44600000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
27300000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28700000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:8pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:7pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses to prepare these financial statements and notes in conformity with GAAP. Actual results could differ from those estimates.</span></p>
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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567831000
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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654776000
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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550702000
CY2023 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
15025000
CY2022 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
17340000
CY2021 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
16911000
CY2023 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
224000
CY2022 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
438000
CY2021 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
539000
CY2023 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2023 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
548894000
CY2022 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
633310000
CY2021 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
529564000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116521000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115344000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114717000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.71
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.49
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.62
CY2023 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
567831000
CY2022 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
654776000
CY2021 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
550702000
CY2023 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
15025000
CY2022 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
17340000
CY2021 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
16911000
CY2023 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2023 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
549118000
CY2022 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
633748000
CY2021 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
530103000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116521000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115344000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114717000
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
124000
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
239000
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
322000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116645000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115583000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115039000
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.71
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.48
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.61
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18300000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20100000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18200000
CY2023 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2500000
CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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1300000
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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1500000
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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13100000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y9M18D
CY2023 us-gaap Employee Service Share Based Compensation Cash Flow Effect Cash Used To Settle Awards
EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
7900000
CY2022 us-gaap Employee Service Share Based Compensation Cash Flow Effect Cash Used To Settle Awards
EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
14000000
CY2021 us-gaap Employee Service Share Based Compensation Cash Flow Effect Cash Used To Settle Awards
EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
9000000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
17300000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
16000000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
15800000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q4 us-gaap Notes Payable
NotesPayable
4540225000
CY2022Q4 us-gaap Notes Payable
NotesPayable
4414903000
CY2023Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.036
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
895000000
CY2023Q1 maa Equity Sale Forward Price Per Share
EquitySaleForwardPricePerShare
185.23
CY2023Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
203700000
CY2023Q4 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
119838096
CY2023Q4 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
116694124
CY2023Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3143972
CY2022Q4 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
118645269
CY2023Q4 maa Totallongtermdebtmaturitiesrepaymentsofprincipalinnexttwelvemonths
Totallongtermdebtmaturitiesrepaymentsofprincipalinnexttwelvemonths
894660000
CY2023Q4 maa Total Long Term Debt Maturities Repayments Of Principal In Year Two
TotalLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
398547000
CY2023Q4 maa Total Long Term Debt Maturities Repayments Of Principal In Year Three
TotalLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
297973000
CY2023Q4 maa Total Long Term Debt Maturities Repayments Of Principal In Year Four
TotalLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
597334000
CY2023Q4 maa Total Long Term Debt Maturities Repayments Of Principal In Year Five
TotalLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
397303000
CY2023Q4 maa Total Long Term Deb Tmaturities Repayments Ofprincipal After Year Five
TotalLongTermDebTmaturitiesRepaymentsOfprincipalAfterYearFive
1954408000
CY2023Q4 maa Total Notes Payable
TotalNotesPayable
4540225000
CY2023 us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2026-10-01
CY2023Q4 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
50.00
CY2023 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
4600000
CY2022 maa Interest Expense Securities
InterestExpenseSecurities
45200000
CY2021 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
51800000
CY2023Q4 maa Unrealized Gain From Limited Partnerships
UnrealizedGainFromLimitedPartnerships
300000
CY2022Q4 maa Unrealized Gain From Limited Partnerships
UnrealizedGainFromLimitedPartnerships
1122000
CY2023Q4 maa Unrealized Gain From Marketable Securities And Other
UnrealizedGainFromMarketableSecuritiesAndOther
3575000
CY2022Q4 maa Unrealized Gain From Marketable Securities And Other
UnrealizedGainFromMarketableSecuritiesAndOther
1700000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3875000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
2822000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3875000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2822000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
46200000
CY2023 maa Ordinary Income Dividends Per Share
OrdinaryIncomeDividendsPerShare
5.6
CY2023 maa Ordinary Income Dividends Per Share Percentage
OrdinaryIncomeDividendsPerSharePercentage
1
CY2022 maa Ordinary Income Dividends Per Share
OrdinaryIncomeDividendsPerShare
4.44
CY2022 maa Ordinary Income Dividends Per Share Percentage
OrdinaryIncomeDividendsPerSharePercentage
0.9503
CY2021 maa Ordinary Income Dividends Per Share
OrdinaryIncomeDividendsPerShare
2.43
CY2021 maa Ordinary Income Dividends Per Share Percentage
OrdinaryIncomeDividendsPerSharePercentage
0.5918
CY2023 maa Return Of Capital Dividends Per Share
ReturnOfCapitalDividendsPerShare
0
CY2023 maa Returnof Capital Dividends Per Share Percentage
ReturnofCapitalDividendsPerSharePercentage
0
CY2022 maa Return Of Capital Dividends Per Share
ReturnOfCapitalDividendsPerShare
0.23
CY2022 maa Returnof Capital Dividends Per Share Percentage
ReturnofCapitalDividendsPerSharePercentage
0.0478
CY2021 maa Return Of Capital Dividends Per Share
ReturnOfCapitalDividendsPerShare
1.36
CY2021 maa Returnof Capital Dividends Per Share Percentage
ReturnofCapitalDividendsPerSharePercentage
0.3315
CY2023 maa Unrecaptured Section1250 Gain Dividends Per Share
UnrecapturedSection1250GainDividendsPerShare
0
CY2023 maa Unrecaptured Section1250 Gain Dividends Per Share Percentage
UnrecapturedSection1250GainDividendsPerSharePercentage
0
CY2022 maa Unrecaptured Section1250 Gain Dividends Per Share
UnrecapturedSection1250GainDividendsPerShare
0.01
CY2022 maa Unrecaptured Section1250 Gain Dividends Per Share Percentage
UnrecapturedSection1250GainDividendsPerSharePercentage
0.0019
CY2021 maa Unrecaptured Section1250 Gain Dividends Per Share
UnrecapturedSection1250GainDividendsPerShare
0.31
CY2021 maa Unrecaptured Section1250 Gain Dividends Per Share Percentage
UnrecapturedSection1250GainDividendsPerSharePercentage
0.0767
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
5.6
CY2023 maa Common Stock Dividends Per Share Cash Paid Percentage
CommonStockDividendsPerShareCashPaidPercentage
1
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.68
CY2022 maa Common Stock Dividends Per Share Cash Paid Percentage
CommonStockDividendsPerShareCashPaidPercentage
1
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.1
CY2021 maa Common Stock Dividends Per Share Cash Paid Percentage
CommonStockDividendsPerShareCashPaidPercentage
1
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
116694124
CY2023Q4 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
119838096
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
115480336
CY2022Q4 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
118645269
CY2023Q4 us-gaap Preferred Stock Liquidation Preference
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50
CY2023 us-gaap Preferred Stock Redemption Date
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2026-10-01
CY2023Q4 us-gaap Preferred Stock Redemption Price Per Share
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50
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
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0.085
CY2023 us-gaap Preferred Stock Dividend Rate Per Dollar Amount
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4.25
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
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43400000
CY2023Q1 maa Equity Sale Settled Shares Amount
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1100000
CY2022Q4 us-gaap General Partners Capital Account Units Outstanding
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115480336
CY2022Q4 us-gaap Limited Partners Capital Account Units Outstanding
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3164933
CY2023 us-gaap Defined Contribution Plan Cost Recognized
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4700000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
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4400000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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4100000
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
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0
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
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700000
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
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123762
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
16600000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P34Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.045
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
2951000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2919000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2968000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3002000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1583000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
55605000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
69028000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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41684000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
27344000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
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7600000
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
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10000000
CY2023Q4 us-gaap Number Of Real Estate Properties
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290
CY2023 us-gaap Number Of Reportable Segments
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2
CY2023 maa Period Properties Owned And Stabilized
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P12M
CY2023Q4 maa Occupancy Level For Stabilized Communities
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0.90
CY2023 maa Period Properties Stabilized
PeriodPropertiesStabilized
P90D
CY2023 us-gaap Revenues
Revenues
2148468000
CY2022 us-gaap Revenues
Revenues
2019866000
CY2021 us-gaap Revenues
Revenues
1778082000
CY2023 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
1380327000
CY2022 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
1296172000
CY2021 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
1106917000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
565063000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
542998000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
533433000
CY2023 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
67784000
CY2022 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
65463000
CY2021 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
55732000
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
58578000
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
58833000
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
52884000
CY2023 us-gaap Interest Expense
InterestExpense
149234000
CY2022 us-gaap Interest Expense
InterestExpense
154747000
CY2021 us-gaap Interest Expense
InterestExpense
156881000
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-62000
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
214762000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
220428000
CY2023 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
54000
CY2022 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
809000
CY2021 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
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811000
CY2023 us-gaap Other Nonoperating Income Expense
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31185000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-42713000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
33902000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4744000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6208000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13637000
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1730000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1579000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1211000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15025000
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
17340000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16911000
CY2023 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3688000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
549118000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
633748000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
530103000
CY2023Q4 us-gaap Assets
Assets
11484503000
CY2022Q4 us-gaap Assets
Assets
11241165000
CY2022 us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
59000000
CY2023 maa Real Estate Geographic Location Of Property1
RealEstateGeographicLocationOfProperty1
Total Real Estate Assets, net of Real Estate Joint Venture
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
2105264000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
10305691000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
2105264000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
13901354000
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
16006618000
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
4864690000
CY2023Q4 maa Real Estate And Accumulated Depreciation Carrying Amount Of Land And Buildings And Improvements Net
RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsNet
11141928000
CY2023Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
12700000000
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
15246658000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
14704237000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
14338895000
CY2023 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
223735000
CY2022 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
272342000
CY2021 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
44086000
CY2023Q4 maa Fair Market Value Of Lease Included In Acquisitions
FairMarketValueOfLeaseIncludedInAcquisitions
2050000
CY2022Q4 maa Fair Market Value Of Lease Included In Acquisitions
FairMarketValueOfLeaseIncludedInAcquisitions
1505000
CY2023 maa Real Estate Improvements And Developments
RealEstateImprovementsAndDevelopments
546237000
CY2022 maa Real Estate Improvements And Developments
RealEstateImprovementsAndDevelopments
469661000
CY2021 maa Real Estate Improvements And Developments
RealEstateImprovementsAndDevelopments
506775000
CY2023 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
7962000
CY2022 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
198077000
CY2021 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
185519000
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
16006618000
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
15246658000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
14704237000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
4302747000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
3848161000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
3415105000
CY2023 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
562760000
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
540708000
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
531848000
CY2023 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
817000
CY2022 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
86122000
CY2021 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
98792000
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
4864690000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
4302747000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
3848161000

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