Mid-America Apartment Communities said net income available for common shareholders for the 3 months ended June 30, 2025 was $107.2 million, a 6.1% increase compared with the prior-year period, and property revenues grew 0.6%. Same Store revenues declined 0.3%, which the company attributed primarily to a 0.5% decrease in average effective rent per unit.

1. 01

   Mid-America Apartment Communities said net income available for common shareholders for the 3 months ended June 30, 2025 was $107.2 million, a 6.1% increase compared with the prior-year period, and property revenues grew 0.6%. Same Store revenues declined 0.3%, which the company attributed primarily to a 0.5% decrease in average effective rent per unit.

2. 02

   The company said Core FFO attributable to common shareholders and unitholders for the 3 months ended June 30, 2025 was $257.6 million, a decrease of $9.0 million compared with the prior-year period. It cited as factors increases in property operating expenses excluding depreciation and amortization of $8.9 million, interest expenses of $3.8 million, and property revenues of $3.5 million.

3. 03

   Mid-America Apartment Communities said other non-operating income for the 3 months ended June 30, 2025 was $4.7 million, an increase of $24.0 million compared with other non-operating expense of $19.2 million in the prior-year period. The 2024 period included a non-cash loss of $9.3 million from the fair value adjustment of the embedded derivative in the MAA Series I preferred shares and accrued legal defense costs of $8.0 million.

4. 04

   The company said net cash provided by operating activities for the 6 months ended June 30, 2025 was $550.1 million, net cash used in investing activities was $238.3 million, and net cash used in financing activities was $300.4 million. As of June 30, 2025, combined unrestricted cash and available capacity under the revolving credit facility totaled $1.0 billion.

Key figures

Quarter ended June 30, 2025

Revenue

$550M

Net income

$108M

EPS

$0.92

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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