Earnings Per Common Share of MAA (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Earnings Per Share

For the three and six months ended June 30, 2025, MAA’s diluted earnings per share was computed using the treasury stock method, and for the three and six months ended June 30, 2024, MAA’s diluted earnings per share was computed using the two-class method, as presented below (dollars and shares in thousands, except per share amounts):

	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Calculation of Earnings per common share - basic
Net income	$	110,875		$	104,662		$	297,281		$	252,272
Net income attributable to noncontrolling interests		(2,748	)		(2,709	)		(7,481	)		(6,570	)
Unvested restricted shares (allocation of earnings)		(59	)		(47	)		(156	)		(111	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAA common shareholders, adjusted	$	107,146		$	100,984		$	287,800		$	243,747
Weighted average common shares - basic		116,976			116,783			116,908			116,727
Earnings per common share - basic	$	0.92		$	0.86		$	2.46		$	2.09
Calculation of Earnings per common share - diluted
Net income	$	110,875		$	104,662		$	297,281		$	252,272
Net income attributable to noncontrolling interests (1)		(2,748	)		(2,709	)		(7,481	)		(6,570	)
Unvested restricted shares (allocation of earnings)		—			(47	)		—			(111	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAA common shareholders, adjusted	$	107,205		$	100,984		$	287,956		$	243,747
Weighted average common shares - basic		116,976			116,783			116,908			116,727
Effect of dilutive securities		187			—			241			—
Weighted average common shares - diluted		117,163			116,783			117,149			116,727
Earnings per common share - diluted	$	0.92		$	0.86		$	2.46		$	2.09

(1)For the three and six months ended June 30, 2025 and 2024, 3.0 million OP Units and 3.1 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.