Real Estate · Multi-Family Residential REITs
Mid-America Apartment Communities: revenue, profit and dividends
In fiscal 2025, Mid-America Apartment Communities had revenue of $2.21B, up 5.7% a year on average since 2020, and net income of $447M (20.2% of revenue). Its dividend per share has gone up 8 years in a row, to $6.08.
Revenue, fiscal 2025
average annual revenue growth since 2020 · +0.8% vs 2024
- Ticker
- MAA · NYSE
- Sector
- Real Estate
- Sub-industry
- Multi-Family Residential REITs
- Headquarters
- Memphis, Tennessee
- Founded
- 1977
- In the S&P 500 since
- December 2, 2016
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Mid America Apartment Communities Inc. · CIK 0000912595
Revenue and net income
Revenue went from $370M in 2008 to $2.21B in 2025.
Diluted earnings per share
Diluted EPS went from $2.86 in 2017 to $3.78 in 2025.
Dividends per share
Raised every year in the data: 8 years in a row, from 2018 to 2025.
Shares outstanding
From 114M in 2017 to 117M in 2025.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was $718M in 2025, 32.5% of revenue.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Dividend | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $2.21B | $447M | 20.2% | $3.78 | $6.08 | 117M | $1.08B | $360M | $718M |
| 2024 | $2.19B | $528M | 24.1% | $4.49 | $5.92 | 117M | $1.1B | $322M | $776M |
| 2023 | $2.15B | $553M | 25.7% | $4.71 | $5.67 | 117M | $1.14B | $341M | $796M |
| 2022 | $2.02B | $637M | 31.6% | $5.48 | $4.99 | 116M | $1.06B | $296M | $762M |
| 2021 | $1.78B | $534M | 30.0% | $4.61 | $4.16 | 115M | $895M | $280M | $615M |
| 2020 | $1.68B | $255M | 15.2% | $2.19 | $4.03 | 114M | $824M | $226M | $598M |
| 2019 | $1.64B | $354M | 21.6% | $3.07 | $3.88 | 114M | $781M | $190M | $591M |
| 2018 | $1.57B | $223M | 14.2% | $1.93 | $3.73 | 114M | $734M | $255M | $480M |
| 2017 | $1.53B | $328M | 21.5% | $2.86 | $3.53 | 114M | $661M | $344M | $317M |
| 2012 | $497M | $105M | 21.2% | — | — | — | $211M | $47.2M | $164M |
| 2011 | $431M | $48.8M | 11.3% | — | — | — | $172M | $46.9M | $125M |
| 2010 | $380M | $29.8M | 7.8% | — | — | — | $134M | $26.5M | $107M |
| 2009 | $374M | $37.2M | 9.9% | — | — | — | $140M | $39.5M | $101M |
| 2008 | $370M | $30.2M | 8.2% | — | — | — | $140M | $18.2M | $122M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
About these figures
- The share count goes from 42.4M in 2012 to 114M in 2017, far more than buybacks or new shares explain — usually an IPO, a reverse split or a reorganization that the data are not adjusted for. Per-share figures and share counts before 2017 are therefore left out.
- REITs are usually judged by funds from operations (FFO), which is not in the filings data; their net income is after depreciation of the properties.
- No full-year figures for 2013–2016: the filings do not report it as one twelve-month period (this happens after a reorganization or a change of fiscal year).
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Multi-Family Residential REITs companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.