GERMANTOWN, Tenn., Jan. 29, 2024 /PRNewswire/
-- Mid-America Apartment Communities, Inc., ("MAA")
(NYSE: MAA) a leading multifamily real estate investment
trust, announced today that the executive leadership team at MAA
took part in ringing the Closing Bell® at the New York Stock
Exchange (NYSE) on Monday, January 29,
2024, to recognize the company's 30-year anniversary as a
public company. The company has grown from its Initial Public
Offering of nearly $91 million on
January 28, 1994 to an equity market
capitalization of approximately $16
billion, making the company a member of the S&P 500 and
the largest publicly traded apartment REIT in the United States, based on the number of
apartment units owned and managed.
Commenting on the 30-year anniversary, Eric Bolton, Chairman and CEO, said "MAA's
successful long-term performance record is reflective of the hard
work and dedication of our associates, our culture of delivering
service and value to all our constituents, and a steady focus on
investing in high-quality apartment real estate across high-growth
markets. With a relentless focus over the past 30 years in
generating value for our residents, the communities in which we
operate, our MAA associates, and our shareholders, we are well
positioned for the future and look forward to building on our
record of success."
Over the past 30 years, MAA has generated an annual compounded
return to shareholders of 12.6%. In addition, to providing
the public equity markets an attractive investment return, MAA also
has outstanding $4.1 billion in
publicly traded corporate bonds supported by a sector leading
investment-grade balance sheet, rated A- by all three credit rating
agencies.
Commenting further on the 30-year milestone, Brad Hill, President and Chief Investment
Officer, said "This is a tremendous accomplishment about which all
MAA associates should be proud. Our company is in a very
strong position to continue to drive higher value for those we
serve. With our strong balance sheet and operating platform,
supported by a dedicated and hard-working team of associates, we
look forward to continued growth and success for MAA."
About MAA
MAA is an S&P 500 company and self-administered real estate
investment trust (REIT) that focuses on delivering strong,
full-cycle investment performance for shareholders through the
ownership, management, acquisition, development and redevelopment
of apartment communities primarily in high-growth, U.S. Sunbelt
markets. For further details, please refer to www.maac.com or
contact Investor Relations at investor.relations@maac.com.
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SOURCE MAA