| Property Revenues and NOI for Reportable Segment |
Property revenues and NOI for each reportable segment for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Revenues: |
|
|
|
|
|
|
Same Store |
|
|
|
|
|
|
Rental revenues |
|
$ |
513,759 |
|
|
$ |
515,417 |
|
Other property revenues |
|
|
3,221 |
|
|
|
3,410 |
|
Total Same Store revenues |
|
|
516,980 |
|
|
|
518,827 |
|
Non-Same Store and Other |
|
|
|
|
|
|
Rental revenues |
|
|
36,367 |
|
|
|
30,215 |
|
Other property revenues |
|
|
378 |
|
|
|
253 |
|
Total Non-Same Store and Other revenues |
|
|
36,745 |
|
|
|
30,468 |
|
Total rental and other property revenues |
|
$ |
553,725 |
|
|
$ |
549,295 |
|
Expenses: |
|
|
|
|
|
|
Same Store |
|
|
|
|
|
|
Real estate taxes |
|
$ |
64,935 |
|
|
$ |
63,188 |
|
Personnel |
|
|
41,858 |
|
|
|
41,561 |
|
Utilities |
|
|
34,985 |
|
|
|
33,853 |
|
Building repair and maintenance |
|
|
24,196 |
|
|
|
23,871 |
|
Office operations |
|
|
7,675 |
|
|
|
8,185 |
|
Insurance |
|
|
7,754 |
|
|
|
8,442 |
|
Marketing |
|
|
6,881 |
|
|
|
6,811 |
|
Total Same Store expenses |
|
|
188,284 |
|
|
|
185,911 |
|
Non-Same Store and Other |
|
|
|
|
|
|
Total Non-Same Store and Other expenses |
|
|
17,288 |
|
|
|
15,442 |
|
Total property operating expenses, excluding depreciation and amortization |
|
$ |
205,572 |
|
|
$ |
201,353 |
|
Net Operating Income: |
|
|
|
|
|
|
Same Store NOI |
|
$ |
328,696 |
|
|
$ |
332,916 |
|
Non-Same Store and Other NOI |
|
|
19,457 |
|
|
|
15,026 |
|
Total NOI |
|
|
348,153 |
|
|
|
347,942 |
|
Depreciation and amortization |
|
|
(161,870 |
) |
|
|
(152,350 |
) |
Property management expenses |
|
|
(22,461 |
) |
|
|
(20,578 |
) |
General and administrative expenses |
|
|
(16,716 |
) |
|
|
(15,619 |
) |
Interest expense |
|
|
(51,409 |
) |
|
|
(45,161 |
) |
Gain on sale of depreciable real estate assets |
|
|
20,164 |
|
|
|
71,911 |
|
Other non-operating income |
|
|
16,005 |
|
|
|
834 |
|
Income tax expense |
|
|
(5,521 |
) |
|
|
(1,038 |
) |
Income from real estate joint venture |
|
|
266 |
|
|
|
465 |
|
Net income attributable to noncontrolling interests |
|
|
(2,252 |
) |
|
|
(4,733 |
) |
Dividends to MAA Series I preferred shareholders |
|
|
(922 |
) |
|
|
(922 |
) |
Net income available for MAA common shareholders |
|
$ |
123,437 |
|
|
$ |
180,751 |
|
Assets for each reportable segment as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Assets: |
|
|
|
|
|
|
Same Store |
|
$ |
9,602,238 |
|
|
$ |
9,683,810 |
|
Non-Same Store and Other |
|
|
2,194,303 |
|
|
|
2,103,045 |
|
Corporate |
|
|
197,961 |
|
|
|
188,528 |
|
Total assets |
|
$ |
11,994,502 |
|
|
$ |
11,975,383 |
|
|
| Assets for Reportable Segment |
Assets for each reportable segment as of March 31, 2026 and December 31, 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Assets: |
|
|
|
|
|
|
Same Store |
|
$ |
9,602,238 |
|
|
$ |
9,683,810 |
|
Non-Same Store and Other |
|
|
2,194,303 |
|
|
|
2,103,045 |
|
Corporate |
|
|
197,961 |
|
|
|
188,528 |
|
Total assets |
|
$ |
11,994,502 |
|
|
$ |
11,975,383 |
|
|