Mid-America Apartment Communities, Inc.

MAA is a self-administered and self-managed real estate investment trust (REIT) focused on multifamily properties. The company owns, operates, acquires, and selectively develops apartment communities primarily in the Southeast, Southwest, and Mid-Atlantic regions of the U.S. As of December 31, 2025, MAA held full or partial ownership of apartment communities, including those under development, across 16 states and the District of Columbia. This portfolio included 102,814 consolidated units and a total of 103,083 units, with 35 communities also featuring retail components. Eight communities were under development as of December 31, 2025, one of which is a phase II expansion of an existing apartment community. The number of units excludes development units not yet delivered as of December 31, 2025. MAA conducts its business principally through its Operating Partnership, where it is the sole general partner, holding 116,878,077 OP Units, representing a 97.5% partnership interest as of December 31, 2025. Both MAA and MAALP were formed in Tennessee in 1993. The company's primary business objective is to generate sustainable, stable, and increasing cash flow to fund dividends and distributions.