MAA · 8-K · 20261028PR436173

Guidance and Outlook

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-10-28 · Importance 75 · Surprise 76 · In source text

MAA updated its full-year 2026 diluted EPS guidance midpoint from $4.08 to $3.67, while its Core FFO midpoint moved from $8.53 to $8.49 and Core AFFO midpoint from $7.50 to $7.46. Same Store revenue growth guidance midpoint was revised from 0.10% to -0.25%, and NOI growth midpoint from -0.90% to -1.25%; the updated ranges are -0.40% to -0.10% for revenue growth and -1.70% to -0.80% for NOI growth. MAA expects fourth-quarter 2026 Core FFO of $2.12 to $2.24 per diluted share, with a $2.18 midpoint, and plans to update its earnings guidance quarterly.

Key facts

• MAA updated full-year 2026 Same Store NOI growth guidance to -1.70% to -0.80%, midpoint -1.25%, from a prior range of -1.70% to -0.10%, midpoint -0.90%. source
• MAA updated full-year 2026 Same Store property operating expense growth guidance to 1.15%-1.65%, midpoint 1.40%, from a prior range of 1.25%-2.25%, midpoint 1.75%. source
• MAA updated its full-year 2026 diluted EPS guidance to $3.61-$3.73, midpoint $3.67, from a prior range of $3.96-$4.20, midpoint $4.08. source
• MAA expected fourth-quarter 2026 Core FFO of $2.12-$2.24 per diluted Share, with a midpoint of $2.18. source
• MAA updated its full-year 2026 Core FFO per diluted Share guidance to $8.43-$8.55, midpoint $8.49, from a prior range of $8.41-$8.65, midpoint $8.53. source
• MAA updated its full-year 2026 Core AFFO per diluted Share guidance to $7.40-$7.52, midpoint $7.46, from a prior range of $7.38-$7.62, midpoint $7.50. source
• MAA updated full-year 2026 Same Store property revenue growth guidance to -0.40% to -0.10%, midpoint -0.25%, from a prior range of -0.20% to 0.40%, midpoint 0.10%. source
• Two of MAA's lease-up projects were expected to stabilize in the fourth quarter of 2026, one in the second quarter of 2027, and one in the third quarter of 2027. source

Impact estimates