$MAA
MID AMERICA APARTMENT COMMUNITIES INC.

2020 Q1 Form 10-Q Financial Statement

#000156459020022883 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $418.1M $401.2M
YoY Change 4.22% 3.93%
Cost Of Revenue $167.8M $163.2M
YoY Change 2.82% 3.75%
Gross Profit $250.3M $238.0M
YoY Change 5.17% 4.07%
Gross Profit Margin 59.87% 59.33%
Selling, General & Admin $13.30M $13.20M
YoY Change 0.76% 30.69%
% of Gross Profit 5.31% 5.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $126.7M $123.1M
YoY Change 2.9% 1.39%
% of Gross Profit 50.6% 51.72%
Operating Expenses $139.6M $136.0M
YoY Change 2.65% 3.9%
Operating Profit $110.7M $102.0M
YoY Change 8.53% 4.29%
Interest Expense $43.48M $45.70M
YoY Change -4.85% -205.06%
% of Operating Profit 39.28% 44.8%
Other Income/Expense, Net -$28.53M $119.0K
YoY Change -24076.47% -60.33%
Pretax Income $38.21M $66.20M
YoY Change -42.28% 29.81%
Income Tax $667.0K $641.0K
% Of Pretax Income 1.75% 0.97%
Net Earnings $36.65M $63.66M
YoY Change -42.43% 29.92%
Net Earnings / Revenue 8.77% 15.87%
Basic Earnings Per Share $0.31 $0.55
Diluted Earnings Per Share $0.31 $0.55
COMMON SHARES
Basic Shares Outstanding 114.1M 113.7M
Diluted Shares Outstanding 114.5M 113.9M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.00M $45.00M
YoY Change -22.22% -25.0%
Cash & Equivalents $34.51M $44.62M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $35.00M $58.00M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $70.00M $103.0M
YoY Change -32.04% 71.67%
LONG-TERM ASSETS
Property, Plant & Equipment $10.94B $11.00B
YoY Change -0.53% -1.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.00M $44.00M
YoY Change 31.82% -2.22%
Other Assets $15.00M $15.00M
YoY Change 0.0% -48.28%
Total Long-Term Assets $11.09B $11.20B
YoY Change -1.03% -1.37%
TOTAL ASSETS
Total Short-Term Assets $70.00M $103.0M
Total Long-Term Assets $11.09B $11.20B
Total Assets $11.16B $11.30B
YoY Change -1.31% -0.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $445.0M $419.0M
YoY Change 6.21% 7.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $445.0M $419.0M
YoY Change 6.21% 7.44%
LONG-TERM LIABILITIES
Long-Term Debt $4.484B $4.548B
YoY Change -1.41% 1.09%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.484B $4.548B
YoY Change -1.41% 1.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $445.0M $419.0M
Total Long-Term Liabilities $4.484B $4.548B
Total Liabilities $5.147B $5.191B
YoY Change -0.85% 1.43%
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 $6.009B $6.113B
YoY Change
Total Liabilities & Shareholders Equity $11.16B $11.30B
YoY Change -1.31% -0.99%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $36.65M $63.66M
YoY Change -42.43% 29.92%
Depreciation, Depletion And Amortization $126.7M $123.1M
YoY Change 2.9% 1.39%
Cash From Operating Activities $160.6M $154.7M
YoY Change 3.83% 1.3%
INVESTING ACTIVITIES
Capital Expenditures -$89.60M -$66.80M
YoY Change 34.13% 28.96%
Acquisitions
YoY Change
Other Investing Activities -$400.0K $13.90M
YoY Change -102.88% 172.55%
Cash From Investing Activities -$89.99M -$52.88M
YoY Change 70.16% 13.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -92.11M -94.08M
YoY Change -2.1% -16.6%
NET CHANGE
Cash From Operating Activities 160.6M 154.7M
Cash From Investing Activities -89.99M -52.88M
Cash From Financing Activities -92.11M -94.08M
Net Change In Cash -21.49M 7.714M
YoY Change -378.64% -213.44%
FREE CASH FLOW
Cash From Operating Activities $160.6M $154.7M
Capital Expenditures -$89.60M -$66.80M
Free Cash Flow $250.2M $221.5M
YoY Change 12.97% 8.3%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
0
CY2019Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-13000
CY2020Q1 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
-376000
CY2019Q1 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
8963000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28532000
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
119000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38212000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
66202000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
667000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
641000
CY2020Q1 maa Income Loss From Continuing Operations Before Equity Method Investments
IncomeLossFromContinuingOperationsBeforeEquityMethodInvestments
37545000
CY2019Q1 maa Income Loss From Continuing Operations Before Equity Method Investments
IncomeLossFromContinuingOperationsBeforeEquityMethodInvestments
65561000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
407000
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
397000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
37952000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
65958000
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1304000
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2298000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
36648000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
63660000
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35726000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
62738000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2020Q1 us-gaap Profit Loss
ProfitLoss
37952000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
65958000
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-2456000
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-253000
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
745000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
38205000
CY2020Q1 maa Property Operating Expenses
PropertyOperatingExpenses
279560000
CY2020Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
61804000
CY2019Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
59584000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
126388000
CY2020Q1 maa Operating Costs And Expenses Excluding Depreciation And Amortization
OperatingCostsAndExpensesExcludingDepreciationAndAmortization
91368000
CY2019Q1 maa Operating Costs And Expenses Excluding Depreciation And Amortization
OperatingCostsAndExpensesExcludingDepreciationAndAmortization
89793000
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
122789000
CY2020Q1 us-gaap Interest Expense
InterestExpense
43482000
CY2019Q1 us-gaap Interest Expense
InterestExpense
45700000
CY2020Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-29000
CY2019Q1 maa Property Operating Expenses
PropertyOperatingExpenses
272166000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
62757000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1313000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2185000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36892000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
60572000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
65958000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
126657000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
123082000
CY2020Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-29000
CY2019Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-13000
CY2020Q1 maa Gain On Sale Of Non Depreciable Assets
GainOnSaleOfNonDepreciableAssets
-376000
CY2019Q1 maa Gain On Sale Of Non Depreciable Assets
GainOnSaleOfNonDepreciableAssets
8963000
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-27638000
CY2019Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-524000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5288000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4785000
CY2020Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1157000
CY2019Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1747000
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-38495000
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-32468000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
160602000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
154678000
CY2020Q1 maa Payments To Acquire Real Estate And Other Assets
PaymentsToAcquireRealEstateAndOtherAssets
5004000
CY2019Q1 maa Payments To Acquire Real Estate And Other Assets
PaymentsToAcquireRealEstateAndOtherAssets
13595000
CY2020Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
84610000
CY2019Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
53214000
CY2019Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
43000
CY2020Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
900000
CY2020Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
525000
CY2019Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
13882000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89989000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52884000
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
130000000
CY2019Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
145000000
CY2020Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
30000000
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
610000000
CY2020Q1 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-70000000
CY2019Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
490435000
CY2020Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1740000
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1847000
CY2019Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4705000
CY2020Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4067000
CY2019Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
3947000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
114270000
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
109324000
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
922000
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
922000
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1108000
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1230000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-92107000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-94080000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21494000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7714000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51673000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49047000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59387000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34508000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44623000
CY2020Q1 us-gaap Restricted Cash
RestrictedCash
14539000
CY2019Q1 us-gaap Restricted Cash
RestrictedCash
14764000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49047000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59387000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
25730000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
18322000
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
34000
CY2019Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
59000
CY2020Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
450000
CY2019Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
336000
CY2020Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
25878000
CY2019Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
15155000
CY2020Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1391000
CY2019Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
388000
CY2020Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
114279662
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
299
CY2020Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:inherit;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-family:inherit;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In order to present comparative financial statements, certain reclassifications have been made to the Condensed Consolidated Statements of Operations. Prior year amounts have been changed to conform to the Company’s current year presentation.  As a result of these reclassifications, $0.8 million of expenses previously reported as “General and administrative expenses” for the three months ended March 31, 2019 have been reclassified to the “Other non-operating expense (income)” line item of the Condensed Consolidated Statements of Operations in this report.</p>
CY2020Q1 us-gaap Real Estate Investments Joint Ventures
RealEstateInvestmentsJointVentures
23800000
CY2020Q1 maa Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.93
CY2020Q1 maa Percentage Of Reimbursable Revenue From Leasing Of Apartment Homes
PercentageOfReimbursableRevenueFromLeasingOfApartmentHomes
0.06
CY2020Q1 maa Percentageof Rental Revenueand Other Income From Nonleasing Activities
PercentageofRentalRevenueandOtherIncomeFromNonleasingActivities
0.01
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
53400000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
53800000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
32800000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
33100000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P32Y
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
37952000
CY2019Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
65958000
CY2020Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
1304000
CY2019Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
2298000
CY2020Q1 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
50000
CY2019Q1 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
87000
CY2020Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
922000
CY2019Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
922000
CY2020Q1 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
35676000
CY2019Q1 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
62651000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114111000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113726000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2020Q1 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
37952000
CY2019Q1 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
65958000
CY2020Q1 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
-1304000
CY2019Q1 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
-2298000
CY2020Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
922000
CY2019Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
922000
CY2020Q1 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
35726000
CY2019Q1 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
62738000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114111000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113726000
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
383000
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
207000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114494000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113933000
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2020Q1 us-gaap Notes Payable
NotesPayable
4483693000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2853000
CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
8600000
CY2020Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.038
CY2020Q1 us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2026-10-01
CY2020Q1 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
50.00
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
114279662
CY2020Q1 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
118338319
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113916208
CY2019Q1 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
118021379
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100000
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
299
CY2020Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q1 maa Period Properties Owned And Stabilized
PeriodPropertiesOwnedAndStabilized
P12M
CY2020Q1 maa Occupancy Level For Stabilized Communities
OccupancyLevelForStabilizedCommunities
0.90
CY2020Q1 maa Period Properties Stabilized
PeriodPropertiesStabilized
P90D
CY2020Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
50.00
CY2020Q1 us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2026-10-01
CY2020Q1 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
50.00
CY2020Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0850
CY2020Q1 us-gaap Preferred Stock Dividend Rate Per Dollar Amount
PreferredStockDividendRatePerDollarAmount
4.25
CY2020Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
43400000
CY2020Q1 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
118338319
CY2020Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
114279662
CY2020Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
4058657
CY2019Q1 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
118021379
CY2019Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
113916208
CY2019Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
4105171
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
2121000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2854000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2885000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2875000
CY2020Q1 us-gaap Revenues
Revenues
418098000
CY2019Q1 us-gaap Revenues
Revenues
401178000
CY2020Q1 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
264926000
CY2019Q1 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
251801000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
126388000
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
122789000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
65863000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
79451000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
46637000
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14643000
CY2019Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
13842000
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13264000
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12337000
CY2020Q1 us-gaap Interest Expense
InterestExpense
43482000
CY2019Q1 us-gaap Interest Expense
InterestExpense
45700000
CY2020Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-29000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
32814000
CY2020Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
8600000
CY2019Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-13000
CY2020Q1 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
-376000
CY2019Q1 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
8963000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28532000
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
119000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
667000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
641000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
407000
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
397000
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1304000
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2298000
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35726000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
62738000
CY2020Q1 us-gaap Assets
Assets
11155977000
CY2019Q4 us-gaap Assets
Assets
11230450000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70541000

Files In Submission

Name View Source Status
0001564590-20-022883-index-headers.html Edgar Link pending
0001564590-20-022883-index.html Edgar Link pending
0001564590-20-022883.txt Edgar Link pending
0001564590-20-022883-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
maa-10q_20200331.htm Edgar Link pending
maa-10q_20200331_htm.xml Edgar Link completed
maa-20200331.xsd Edgar Link pending
maa-20200331_cal.xml Edgar Link unprocessable
maa-20200331_def.xml Edgar Link unprocessable
maa-20200331_lab.xml Edgar Link unprocessable
maa-20200331_pre.xml Edgar Link unprocessable
maa-ex311_7.htm Edgar Link pending
maa-ex312_6.htm Edgar Link pending
maa-ex313_8.htm Edgar Link pending
maa-ex314_9.htm Edgar Link pending
maa-ex321_11.htm Edgar Link pending
maa-ex322_10.htm Edgar Link pending
maa-ex323_13.htm Edgar Link pending
maa-ex324_12.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending