MAA · 8-K · 20260804PR332847

Guidance and Outlook

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-08-04 · Importance 56 · Surprise 68 · No source text

Management expects 2026 full-year effective rent growth of negative 0.15% to positive 0.35%, property revenue growth of negative 0.20% to positive 0.40%, and same-store NOI growth of negative 1.70% to negative 0.10%, with a midpoint of negative 0.90%. Average physical occupancy is expected to remain between 95.35% and 95.65%, with steady occupancy for the full year. Full-year 2026 Core FFO per diluted share guidance is $8.41–$8.65, while development funding is expected at $300 million–$400 million and capital spending includes $45 million–$55 million for unit redevelopment.

Key facts

• 2026 FULL YEAR GUIDANCE midpoint corporate overhead: Asset Management / Tech / Regional Support + G&A totaling $136M (range $134M … $136M … $138M) source
• 2026 FULL YEAR GUIDANCE midpoint: Core FFO/Share $8.53 (range $8.41 … $8.53 … $8.65) source
• 2026 Q3 Core FFO/Share guidance range: $2.04 … $2.10 … $2.16 (midpoint $2.10) source
• 2026 Full year Core FFO per diluted share guidance corresponds to GAAP earnings per diluted common share guidance range $3.96 to $4.20 (earnings) and FFO per share midpoints implied source
• 2026 SAME STORE forecast midpoint: Effective Rent Growth 0.10%, Property Revenue Growth 0.10%, Property Expense Growth 1.75%, Real Estate Tax Growth 1.75%, Property NOI Growth -0.90%, Average Physical Occupancy midpoint 95.50% source
• Expect 3Q 2026 Occupancy to outperform 2Q 2026 Occupancy and expect 4Q 2026 blended pricing to outperform 1Q 2026 blended pricing source
• Expect FY 2026 blended pricing to be in the 0.5% range source

Impact estimates