MID AMERICA APARTMENT COMMUNITIES INC. (MAA)

Real Estate Investment Trusts

Latest Price

$125.60

TTM P/E

38.06

Normalized P/E

27.30

Div Yield

Book Value

47.51

P/B Ratio

2.64

Valuation metrics

EPS: $3.78

Book value / share: $48.45

Formula: √(22.5 × EPS × BVPS)

Graham Number

$64.19

49% downside

Norm. op. income: $713M (median of 7yr)

Tax rate: 5%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$58.50

53% downside

EPS: $3.78

Target P/E: 27×

Formula: EPS × P/E

P/E Fair Value

$102.06

18% downside

94.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.10M	$1.82B	11.26%	+73.3K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	9.93M	$1.38B	8.53%	+21.8K	2026-06-30
STATE STREET CORP	7.93M	$1.10B	6.82%	-72.1K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	7.61M	$1.06B	6.54%	+16.4K	2026-06-30
NORGES BANK	5.45M	$757.0M	4.69%	+49.0K	2026-06-30
VIKING GLOBAL INVESTORS LP	5.04M	$700.0M	4.33%	+1.16M	2026-06-30
AQR CAPITAL MANAGEMENT LLC	3.77M	$523.0M	3.24%	+2.99M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	3.54M	$489.0M	3.04%	+42.4K	2026-06-30
APG Asset Management US Inc.	3.09M	$432.0M	2.66%	--	2026-06-30
Invesco Ltd.	2.37M	$329.0M	2.04%	-61.4K	2026-06-30