Earnings Per Common Share of MAA (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Earnings Per Share

For the three and nine months ended September 30, 2025, MAA’s diluted earnings per share was computed using the treasury stock method, and for the three and nine months ended September 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 September 30,						Nine months ended September 30,
	2025			2024			2025			2024
Calculation of Earnings per common share - basic
Net income	$	102,044		$	118,230		$	399,325		$	370,502
Net income attributable to noncontrolling interests		(2,506	)		(3,035	)		(9,987	)		(9,605	)
Unvested restricted shares (allocation of earnings)		(52	)		(53	)		(208	)		(163	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAA common shareholders, adjusted	$	98,564		$	114,220		$	386,364		$	357,968
Weighted average common shares - basic		117,012			116,820			116,943			116,758
Earnings per common share - basic	$	0.84		$	0.98		$	3.30		$	3.07
Calculation of Earnings per common share - diluted
Net income	$	102,044		$	118,230		$	399,325		$	370,502
Net income attributable to noncontrolling interests (1)		(2,506	)		(3,035	)		(9,987	)		(9,605	)
Unvested restricted shares (allocation of earnings)		—			(53	)		—			(163	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAA common shareholders, adjusted	$	98,616		$	114,220		$	386,572		$	357,968
Weighted average common shares - basic		117,012			116,820			116,943			116,758
Effect of dilutive securities		143			—			218			—
Weighted average common shares - diluted		117,155			116,820			117,161			116,758
Earnings per common share - diluted	$	0.84		$	0.98		$	3.30		$	3.07

(1)For the three and nine months ended September 30, 2025, 2.9 million OP Units and 3.0 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive. For the three and nine months ended September 30, 2024, 3.1 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive.