Real Estate
In 2026-Q2, MAA reported total property revenues of $555.1M (up 1.0% YoY) and net income available to common shareholders of $120.8M (up 12.7% YoY aided by asset sales), while Core FFO declined 3.9% to $247.5M due to rising interest costs and operating expenses.
Key risk: Elevated Variable Debt and Interest Cost Risk
MAA maintains $764.0M in variable rate debt and faces higher market borrowing costs relative to its fixed-rate debt portfolio. Higher effective interest rates contributed to an $8.0M YoY increase in interest expense in 2026-Q2, which may continue to pressure cash flow and Core FFO.
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