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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Rental and other property revenues $ 551,126 $ 542,042 $ 1,641,183 $ 1,606,221
Expenses:        
Operating expenses, excluding real estate taxes and insurance 134,475 122,660 378,887 347,868
Real estate taxes and insurance 77,086 76,563 236,272 228,491
Depreciation and amortization 146,722 146,702 434,764 424,175
Total property operating expenses 358,283 345,925 1,049,923 1,000,534
Property management expenses 17,265 16,298 54,461 50,317
General and administrative expenses 12,728 13,524 42,444 43,329
Interest expense 42,726 36,651 124,352 110,655
Loss on sale of depreciable real estate assets 0 75 25 61
Gain on sale of non-depreciable real estate assets 0 0 0 (54)
Other non-operating expense (income) 1,678 16,493 (2,604) (3,966)
Income before income tax (expense) benefit 118,446 113,076 372,582 405,345
Income tax (expense) benefit (670) 209 (3,485) (3,596)
Income from continuing operations before real estate joint venture activity 117,776 113,285 369,097 401,749
Income from real estate joint venture 454 447 1,405 1,214
Net income 118,230 113,732 370,502 402,963
Net income attributable to noncontrolling interests 3,035 3,000 9,605 10,633
Net income 115,195 110,732 360,897 392,330
Dividends to MAA Series I preferred shareholders 922 922 2,766 2,766
Net income available for MAA common shareholders $ 114,273 $ 109,810 $ 358,131 $ 389,564
Earnings per common share - basic:        
Net income available for MAA common shareholders $ 0.98 $ 0.94 $ 3.07 $ 3.34
Earnings per common share - diluted:        
Net income available for MAA common shareholders $ 0.98 $ 0.94 $ 3.07 $ 3.34
Limited Partnership [Member]        
Revenues:        
Rental and other property revenues $ 551,126 $ 542,042 $ 1,641,183 $ 1,606,221
Expenses:        
Operating expenses, excluding real estate taxes and insurance 134,475 122,660 378,887 347,868
Real estate taxes and insurance 77,086 76,563 236,272 228,491
Depreciation and amortization 146,722 146,702 434,764 424,175
Total property operating expenses 358,283 345,925 1,049,923 1,000,534
Property management expenses 17,265 16,298 54,461 50,317
General and administrative expenses 12,728 13,524 42,444 43,329
Interest expense 42,726 36,651 124,352 110,655
Loss on sale of depreciable real estate assets 0 75 25 61
Gain on sale of non-depreciable real estate assets 0 0 0 (54)
Other non-operating expense (income) 1,678 16,493 (2,604) (3,966)
Income before income tax (expense) benefit 118,446 113,076 372,582 405,345
Income tax (expense) benefit (670) 209 (3,485) (3,596)
Income from continuing operations before real estate joint venture activity 117,776 113,285 369,097 401,749
Income from real estate joint venture 454 447 1,405 1,214
Net income 118,230 113,732 370,502 402,963
Net income 118,230 113,732 370,502 402,963
Dividends to MAA Series I preferred shareholders 922 922 2,766 2,766
Net income available for MAA common shareholders $ 117,308 $ 112,810 $ 367,736 $ 400,197
Earnings per common share - basic:        
Net income available for MAALP common unitholders $ 0.98 $ 0.94 $ 3.07 $ 3.34
Earnings per common share - diluted:        
Net income available for MAALP common unitholders $ 0.98 $ 0.94 $ 3.07 $ 3.34