Exhibit 99.2
PORTFOLIO STATISTICS |
TOTAL MULTIFAMILY PORTFOLIO AT SEPTEMBER 30, 2022 (1)
In apartment units
|
| Same |
|
| Non-Same |
|
| Lease-up |
|
| Total |
|
| Development |
|
| Total |
| ||||||
Atlanta, GA |
|
| 11,434 |
|
|
| — |
|
|
| — |
|
|
| 11,434 |
|
|
| — |
|
|
| 11,434 |
|
Dallas, TX |
|
| 9,767 |
|
|
| 348 |
|
|
| — |
|
|
| 10,115 |
|
|
| — |
|
|
| 10,115 |
|
Tampa, FL |
|
| 5,220 |
|
|
| 196 |
|
|
| — |
|
|
| 5,416 |
|
|
| — |
|
|
| 5,416 |
|
Orlando, FL |
|
| 5,274 |
|
|
| 264 |
|
|
| 369 |
|
|
| 5,907 |
|
|
| — |
|
|
| 5,907 |
|
Charlotte, NC |
|
| 5,867 |
|
|
| — |
|
|
| 344 |
|
|
| 6,211 |
|
|
| — |
|
|
| 6,211 |
|
Austin, TX |
|
| 6,829 |
|
|
| 288 |
|
|
| — |
|
|
| 7,117 |
|
|
| 323 |
|
|
| 7,440 |
|
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| — |
|
|
| — |
|
|
| 5,350 |
|
|
| — |
|
|
| 5,350 |
|
Nashville, TN |
|
| 4,375 |
|
|
| — |
|
|
| — |
|
|
| 4,375 |
|
|
| — |
|
|
| 4,375 |
|
Houston, TX |
|
| 4,867 |
|
|
| — |
|
|
| 308 |
|
|
| 5,175 |
|
|
| — |
|
|
| 5,175 |
|
Jacksonville, FL |
|
| 3,496 |
|
|
| — |
|
|
| — |
|
|
| 3,496 |
|
|
| — |
|
|
| 3,496 |
|
Charleston, SC |
|
| 3,168 |
|
|
| — |
|
|
| — |
|
|
| 3,168 |
|
|
| — |
|
|
| 3,168 |
|
Phoenix, AZ |
|
| 2,623 |
|
|
| 345 |
|
|
| — |
|
|
| 2,968 |
|
|
| — |
|
|
| 2,968 |
|
Fort Worth, TX |
|
| 3,519 |
|
|
| 168 |
|
|
| — |
|
|
| 3,687 |
|
|
| — |
|
|
| 3,687 |
|
Northern Virginia |
|
| 1,888 |
|
|
| — |
|
|
| — |
|
|
| 1,888 |
|
|
| — |
|
|
| 1,888 |
|
Richmond, VA |
|
| 2,004 |
|
|
| — |
|
|
| — |
|
|
| 2,004 |
|
|
| — |
|
|
| 2,004 |
|
Savannah, GA |
|
| 1,837 |
|
|
| — |
|
|
| — |
|
|
| 1,837 |
|
|
| — |
|
|
| 1,837 |
|
Fredericksburg, VA |
|
| 1,435 |
|
|
| — |
|
|
| — |
|
|
| 1,435 |
|
|
| — |
|
|
| 1,435 |
|
Greenville, SC |
|
| 2,355 |
|
|
| — |
|
|
| — |
|
|
| 2,355 |
|
|
| — |
|
|
| 2,355 |
|
Memphis, TN |
|
| 1,811 |
|
|
| — |
|
|
| — |
|
|
| 1,811 |
|
|
| — |
|
|
| 1,811 |
|
Birmingham, AL |
|
| 1,462 |
|
|
| — |
|
|
| — |
|
|
| 1,462 |
|
|
| — |
|
|
| 1,462 |
|
Denver, CO |
|
| 812 |
|
|
| — |
|
|
| 306 |
|
|
| 1,118 |
|
|
| — |
|
|
| 1,118 |
|
San Antonio, TX |
|
| 1,504 |
|
|
| — |
|
|
| — |
|
|
| 1,504 |
|
|
| — |
|
|
| 1,504 |
|
Huntsville, AL |
|
| 1,228 |
|
|
| — |
|
|
| — |
|
|
| 1,228 |
|
|
| — |
|
|
| 1,228 |
|
Kansas City, MO-KS |
|
| 1,110 |
|
|
| — |
|
|
| — |
|
|
| 1,110 |
|
|
| — |
|
|
| 1,110 |
|
Other |
|
| 7,078 |
|
|
| 492 |
|
|
| — |
|
|
| 7,570 |
|
|
| — |
|
|
| 7,570 |
|
Total Multifamily Units |
|
| 96,313 |
|
|
| 2,101 |
|
|
| 1,327 |
|
|
| 99,741 |
|
|
| 323 |
|
|
| 100,064 |
|
Supplemental Data S-1
PORTFOLIO STATISTICS (CONTINUED) |
TOTAL MULTIFAMILY COMMUNITY STATISTICS (1)
Dollars in thousands, except Average Effective Rent per Unit
|
| As of September 30, 2022 |
|
| Average |
|
| As of September 30, 2022 |
| |||||||||||||||
|
| Gross Real |
|
| Percent to |
|
| Physical |
|
| Rent per |
|
| Completed |
|
| Total Units, |
| ||||||
Atlanta, GA |
| $ | 2,058,201 |
|
|
| 14.0 | % |
|
| 95.9 | % |
| $ | 1,793 |
|
|
| 11,434 |
|
|
|
| |
Dallas, TX |
|
| 1,530,476 |
|
|
| 10.3 | % |
|
| 95.9 | % |
|
| 1,595 |
|
|
| 10,115 |
|
|
|
| |
Tampa, FL |
|
| 982,215 |
|
|
| 6.6 | % |
|
| 95.5 | % |
|
| 2,015 |
|
|
| 5,416 |
|
|
|
| |
Charlotte, NC |
|
| 977,952 |
|
|
| 6.6 | % |
|
| 95.8 | % |
|
| 1,543 |
|
|
| 5,867 |
|
|
|
| |
Orlando, FL |
|
| 912,513 |
|
|
| 6.2 | % |
|
| 96.2 | % |
|
| 1,881 |
|
|
| 5,538 |
|
|
|
| |
Austin, TX |
|
| 888,441 |
|
|
| 6.0 | % |
|
| 95.2 | % |
|
| 1,587 |
|
|
| 7,117 |
|
|
|
| |
Raleigh/Durham, NC |
|
| 716,513 |
|
|
| 4.8 | % |
|
| 95.6 | % |
|
| 1,474 |
|
|
| 5,350 |
|
|
|
| |
Houston, TX |
|
| 624,165 |
|
|
| 4.2 | % |
|
| 95.7 | % |
|
| 1,363 |
|
|
| 4,867 |
|
|
|
| |
Northern Virginia |
|
| 566,836 |
|
|
| 3.8 | % |
|
| 95.9 | % |
|
| 2,211 |
|
|
| 1,888 |
|
|
|
| |
Nashville, TN |
|
| 547,556 |
|
|
| 3.7 | % |
|
| 96.1 | % |
|
| 1,634 |
|
|
| 4,375 |
|
|
|
| |
Phoenix, AZ |
|
| 471,487 |
|
|
| 3.2 | % |
|
| 95.9 | % |
|
| 1,728 |
|
|
| 2,968 |
|
|
|
| |
Charleston, SC |
|
| 417,605 |
|
|
| 2.8 | % |
|
| 96.4 | % |
|
| 1,625 |
|
|
| 3,168 |
|
|
|
| |
Fort Worth, TX |
|
| 378,646 |
|
|
| 2.6 | % |
|
| 95.6 | % |
|
| 1,515 |
|
|
| 3,687 |
|
|
|
| |
Jacksonville, FL |
|
| 299,626 |
|
|
| 2.0 | % |
|
| 96.7 | % |
|
| 1,510 |
|
|
| 3,496 |
|
|
|
| |
Richmond, VA |
|
| 272,830 |
|
|
| 1.8 | % |
|
| 96.3 | % |
|
| 1,525 |
|
|
| 2,004 |
|
|
|
| |
Fredericksburg, VA |
|
| 250,094 |
|
|
| 1.7 | % |
|
| 96.6 | % |
|
| 1,763 |
|
|
| 1,435 |
|
|
|
| |
Greenville, SC |
|
| 231,124 |
|
|
| 1.6 | % |
|
| 96.7 | % |
|
| 1,256 |
|
|
| 2,355 |
|
|
|
| |
Savannah, GA |
|
| 220,793 |
|
|
| 1.5 | % |
|
| 96.7 | % |
|
| 1,570 |
|
|
| 1,837 |
|
|
|
| |
Denver, CO |
|
| 212,386 |
|
|
| 1.4 | % |
|
| 96.4 | % |
|
| 1,898 |
|
|
| 812 |
|
|
|
| |
Kansas City, MO-KS |
|
| 189,830 |
|
|
| 1.3 | % |
|
| 95.7 | % |
|
| 1,486 |
|
|
| 1,110 |
|
|
|
| |
San Antonio, TX |
|
| 168,221 |
|
|
| 1.1 | % |
|
| 95.7 | % |
|
| 1,361 |
|
|
| 1,504 |
|
|
|
| |
Birmingham, AL |
|
| 165,371 |
|
|
| 1.1 | % |
|
| 95.1 | % |
|
| 1,342 |
|
|
| 1,462 |
|
|
|
| |
All Other Markets by State (individual markets <1% gross real assets) |
| |||||||||||||||||||||||
Tennessee |
|
| 193,239 |
|
|
| 1.3 | % |
|
| 95.5 | % |
|
| 1,295 |
|
|
| 2,754 |
|
|
|
| |
Florida |
|
| 182,531 |
|
|
| 1.2 | % |
|
| 96.0 | % |
|
| 1,751 |
|
|
| 1,806 |
|
|
|
| |
Maryland |
|
| 171,446 |
|
|
| 1.2 | % |
|
| 95.2 | % |
|
| 1,940 |
|
|
| 757 |
|
|
|
| |
Alabama |
|
| 168,103 |
|
|
| 1.1 | % |
|
| 95.3 | % |
|
| 1,357 |
|
|
| 1,648 |
|
|
|
| |
Virginia |
|
| 157,063 |
|
|
| 1.1 | % |
|
| 95.9 | % |
|
| 1,694 |
|
|
| 1,039 |
|
|
|
| |
Kentucky |
|
| 96,194 |
|
|
| 0.6 | % |
|
| 96.4 | % |
|
| 1,127 |
|
|
| 1,308 |
|
|
|
| |
Nevada |
|
| 72,736 |
|
|
| 0.5 | % |
|
| 95.8 | % |
|
| 1,548 |
|
|
| 721 |
|
|
|
| |
South Carolina |
|
| 37,971 |
|
|
| 0.3 | % |
|
| 95.3 | % |
|
| 1,127 |
|
|
| 576 |
|
|
|
| |
Stabilized Communities |
| $ | 14,162,164 |
|
|
| 95.6 | % |
|
| 95.9 | % |
| $ | 1,619 |
|
|
| 98,414 |
|
|
|
| |
Charlotte, NC |
|
| 139,071 |
|
|
| 0.9 | % |
|
| 91.6 | % |
|
| 2,084 |
|
|
| 344 |
|
|
| 344 |
|
Denver, CO |
|
| 112,255 |
|
|
| 0.8 | % |
|
| 90.2 | % |
|
| 1,906 |
|
|
| 306 |
|
|
| 658 |
|
Orlando, FL |
|
| 97,380 |
|
|
| 0.7 | % |
|
| 89.7 | % |
|
| 2,205 |
|
|
| 369 |
|
|
| 369 |
|
Salt Lake City, UT |
|
| 65,399 |
|
|
| 0.4 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 400 |
|
Atlanta, GA |
|
| 58,366 |
|
|
| 0.4 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 340 |
|
Austin, TX |
|
| 57,737 |
|
|
| 0.4 | % |
|
| 56.6 | % |
|
| 1,635 |
|
|
| 323 |
|
|
| 350 |
|
Houston, TX |
|
| 54,792 |
|
|
| 0.4 | % |
|
| 86.4 | % |
|
| 1,560 |
|
|
| 308 |
|
|
| 308 |
|
Phoenix, AZ |
|
| 54,057 |
|
|
| 0.4 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 317 |
|
Lease-up / Development Communities |
| $ | 639,057 |
|
|
| 4.4 | % |
|
| 82.6 | % |
| $ | 1,892 |
|
|
| 1,650 |
|
|
| 3,086 |
|
Total Multifamily Communities |
| $ | 14,801,221 |
|
|
| 100.0 | % |
|
| 95.7 | % |
| $ | 1,624 |
|
|
| 100,064 |
|
|
| 101,500 |
|
Supplemental Data S-2
COMPONENTS OF NET OPERATING INCOME |
Dollars in thousands
|
| As of September 30, 2022 |
|
| Three Months Ended |
| ||||||||||||||
|
| Apartment Units |
|
| Gross Real Assets |
|
| September 30, 2022 |
|
| September 30, 2021 |
|
| Percent |
| |||||
Operating Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
| 96,313 |
|
| $ | 13,726,445 |
|
| $ | 495,377 |
|
| $ | 432,206 |
|
|
| 14.6 | % |
Non-Same Store Communities |
|
| 2,101 |
|
|
| 435,719 |
|
|
| 12,876 |
|
|
| 13,323 |
|
|
|
| |
Lease-up/Development Communities |
|
| 1,650 |
|
|
| 639,057 |
|
|
| 6,313 |
|
|
| 1,094 |
|
|
|
| |
Total Multifamily Portfolio |
|
| 100,064 |
|
| $ | 14,801,221 |
|
| $ | 514,566 |
|
| $ | 446,623 |
|
|
|
| |
Commercial Property/Land |
|
| — |
|
|
| 357,028 |
|
|
| 6,217 |
|
|
| 5,952 |
|
|
|
| |
Total Operating Revenues |
|
| 100,064 |
|
| $ | 15,158,249 |
|
| $ | 520,783 |
|
| $ | 452,575 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Property Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
|
|
|
|
|
| $ | 179,761 |
|
| $ | 163,324 |
|
|
| 10.1 | % | ||
Non-Same Store Communities |
|
|
|
|
|
|
|
| 4,569 |
|
|
| 6,209 |
|
|
|
| |||
Lease-up/Development Communities |
|
|
|
|
|
|
|
| 2,839 |
|
|
| 709 |
|
|
|
| |||
Hurricane Expenses |
|
|
|
|
|
|
|
| 1,602 |
|
|
| — |
|
|
|
| |||
Total Multifamily Portfolio |
|
|
|
|
|
|
| $ | 188,771 |
|
| $ | 170,242 |
|
|
|
| |||
Commercial Property/Land |
|
|
|
|
|
|
|
| 2,652 |
|
|
| 2,596 |
|
|
|
| |||
Total Property Operating Expenses |
|
|
|
|
|
|
| $ | 191,423 |
|
| $ | 172,838 |
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
|
|
|
|
|
| $ | 315,616 |
|
| $ | 268,882 |
|
|
| 17.4 | % | ||
Non-Same Store Communities |
|
|
|
|
|
|
|
| 8,307 |
|
|
| 7,114 |
|
|
|
| |||
Lease-up/Development Communities |
|
|
|
|
|
|
|
| 3,474 |
|
|
| 385 |
|
|
|
| |||
Hurricane Expenses |
|
|
|
|
|
|
|
| (1,602 | ) |
|
| — |
|
|
|
| |||
Total Multifamily Portfolio |
|
|
|
|
|
|
| $ | 325,795 |
|
| $ | 276,381 |
|
|
|
| |||
Commercial Property/Land |
|
|
|
|
|
|
|
| 3,565 |
|
|
| 3,356 |
|
|
|
| |||
Total Net Operating Income |
|
|
|
|
|
|
| $ | 329,360 |
|
| $ | 279,737 |
|
|
| 17.7 | % |
COMPONENTS OF SAME STORE PORTFOLIO PROPERTY OPERATING EXPENSES |
Dollars in thousands
|
| Three Months Ended |
|
| Nine Months Ended |
| ||||||||||||||||||
|
| September 30, 2022 |
|
| September 30, 2021 |
|
| Percent Change |
|
| September 30, 2022 |
|
| September 30, 2021 |
|
| Percent |
| ||||||
Property Taxes |
| $ | 62,924 |
|
| $ | 57,296 |
|
|
| 9.8 | % |
| $ | 182,668 |
|
| $ | 173,452 |
|
|
| 5.3 | % |
Personnel |
|
| 39,281 |
|
|
| 35,953 |
|
|
| 9.3 | % |
|
| 111,829 |
|
|
| 104,097 |
|
|
| 7.4 | % |
Utilities |
|
| 33,594 |
|
|
| 31,154 |
|
|
| 7.8 | % |
|
| 92,970 |
|
|
| 88,113 |
|
|
| 5.5 | % |
Building Repair and Maintenance |
|
| 24,011 |
|
|
| 21,360 |
|
|
| 12.4 | % |
|
| 65,910 |
|
|
| 58,777 |
|
|
| 12.1 | % |
Office Operations |
|
| 7,276 |
|
|
| 5,817 |
|
|
| 25.1 | % |
|
| 20,764 |
|
|
| 17,044 |
|
|
| 21.8 | % |
Insurance |
|
| 7,011 |
|
|
| 6,233 |
|
|
| 12.5 | % |
|
| 19,523 |
|
|
| 17,197 |
|
|
| 13.5 | % |
Marketing |
|
| 5,664 |
|
|
| 5,511 |
|
|
| 2.8 | % |
|
| 17,854 |
|
|
| 16,928 |
|
|
| 5.5 | % |
Total Property Operating Expenses (1) |
| $ | 179,761 |
|
| $ | 163,324 |
|
|
| 10.1 | % |
| $ | 511,518 |
|
| $ | 475,608 |
|
|
| 7.6 | % |
Supplemental Data S-3
MULTIFAMILY SAME STORE PORTFOLIO NOI CONTRIBUTION PERCENTAGE |
|
|
|
|
|
|
|
| Average Physical Occupancy |
| |||||||||||||||
|
|
|
|
| Percent of |
|
| Three Months Ended |
|
| Nine Months Ended |
| ||||||||||||
|
| Apartment Units |
|
| Same Store NOI |
|
| September 30, 2022 |
|
| September 30, 2021 |
|
| September 30, 2022 |
|
| September 30, 2021 |
| ||||||
Atlanta, GA |
|
| 11,434 |
|
|
| 12.8 | % |
|
| 95.3 | % |
|
| 95.6 | % |
|
| 95.4 | % |
|
| 95.4 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 9.2 | % |
|
| 95.8 | % |
|
| 96.2 | % |
|
| 95.6 | % |
|
| 95.7 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 6.9 | % |
|
| 95.8 | % |
|
| 97.1 | % |
|
| 96.1 | % |
|
| 97.2 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 6.5 | % |
|
| 96.0 | % |
|
| 96.5 | % |
|
| 95.8 | % |
|
| 96.3 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 6.3 | % |
|
| 96.2 | % |
|
| 96.3 | % |
|
| 96.3 | % |
|
| 95.9 | % |
Austin, TX |
|
| 6,829 |
|
|
| 6.2 | % |
|
| 95.5 | % |
|
| 96.1 | % |
|
| 95.3 | % |
|
| 95.8 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 5.5 | % |
|
| 95.8 | % |
|
| 96.2 | % |
|
| 95.5 | % |
|
| 96.0 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 4.7 | % |
|
| 96.1 | % |
|
| 96.2 | % |
|
| 95.9 | % |
|
| 95.5 | % |
Houston, TX |
|
| 4,867 |
|
|
| 3.8 | % |
|
| 95.5 | % |
|
| 96.0 | % |
|
| 95.5 | % |
|
| 95.0 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 3.6 | % |
|
| 96.1 | % |
|
| 96.7 | % |
|
| 95.9 | % |
|
| 96.4 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 3.4 | % |
|
| 95.7 | % |
|
| 97.0 | % |
|
| 95.9 | % |
|
| 97.0 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 3.4 | % |
|
| 96.4 | % |
|
| 97.3 | % |
|
| 96.6 | % |
|
| 97.5 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 3.2 | % |
|
| 95.5 | % |
|
| 96.4 | % |
|
| 95.6 | % |
|
| 96.3 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 2.7 | % |
|
| 95.6 | % |
|
| 95.3 | % |
|
| 95.6 | % |
|
| 95.7 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 2.1 | % |
|
| 96.1 | % |
|
| 96.5 | % |
|
| 96.1 | % |
|
| 96.8 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 2.0 | % |
|
| 96.6 | % |
|
| 96.4 | % |
|
| 96.4 | % |
|
| 96.4 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 2.0 | % |
|
| 96.9 | % |
|
| 97.4 | % |
|
| 96.8 | % |
|
| 97.3 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 1.8 | % |
|
| 95.8 | % |
|
| 96.6 | % |
|
| 96.4 | % |
|
| 97.1 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 1.5 | % |
|
| 94.4 | % |
|
| 96.7 | % |
|
| 95.0 | % |
|
| 97.3 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 1.3 | % |
|
| 95.8 | % |
|
| 96.6 | % |
|
| 95.7 | % |
|
| 96.7 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 1.2 | % |
|
| 96.0 | % |
|
| 97.0 | % |
|
| 95.9 | % |
|
| 96.3 | % |
Denver, CO |
|
| 812 |
|
|
| 1.1 | % |
|
| 95.1 | % |
|
| 95.7 | % |
|
| 95.8 | % |
|
| 94.8 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 1.1 | % |
|
| 95.1 | % |
|
| 96.6 | % |
|
| 95.7 | % |
|
| 97.0 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 1.0 | % |
|
| 95.8 | % |
|
| 96.1 | % |
|
| 95.6 | % |
|
| 95.1 | % |
Other |
|
| 7,078 |
|
|
| 6.7 | % |
|
| 95.9 | % |
|
| 96.9 | % |
|
| 96.0 | % |
|
| 96.8 | % |
Total Same Store |
|
| 96,313 |
|
|
| 100.0 | % |
|
| 95.8 | % |
|
| 96.4 | % |
|
| 95.8 | % |
|
| 96.2 | % |
Supplemental Data S-4
MULTIFAMILY SAME STORE PORTFOLIO QUARTER OVER QUARTER COMPARISONS |
Dollars in thousands, except Average Effective Rent per Unit
|
|
|
|
| Revenues |
|
| Expenses |
|
| NOI |
|
| Average Effective Rent per Unit |
| |||||||||||||||||||||||||||||||||||||
|
| Units |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 (1) |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 64,073 |
|
| $ | 56,687 |
|
|
| 13.0 | % |
| $ | 23,756 |
|
| $ | 21,800 |
|
|
| 9.0 | % |
| $ | 40,317 |
|
| $ | 34,887 |
|
|
| 15.6 | % |
| $ | 1,793 |
|
| $ | 1,553 |
|
|
| 15.4 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 49,111 |
|
|
| 42,357 |
|
|
| 15.9 | % |
|
| 20,199 |
|
|
| 18,985 |
|
|
| 6.4 | % |
|
| 28,912 |
|
|
| 23,372 |
|
|
| 23.7 | % |
|
| 1,585 |
|
|
| 1,352 |
|
|
| 17.2 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 32,897 |
|
|
| 27,887 |
|
|
| 18.0 | % |
|
| 11,001 |
|
|
| 9,841 |
|
|
| 11.8 | % |
|
| 21,896 |
|
|
| 18,046 |
|
|
| 21.3 | % |
|
| 2,015 |
|
|
| 1,651 |
|
|
| 22.0 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 28,955 |
|
|
| 25,338 |
|
|
| 14.3 | % |
|
| 8,513 |
|
|
| 7,878 |
|
|
| 8.1 | % |
|
| 20,442 |
|
|
| 17,460 |
|
|
| 17.1 | % |
|
| 1,543 |
|
|
| 1,325 |
|
|
| 16.4 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 31,271 |
|
|
| 25,969 |
|
|
| 20.4 | % |
|
| 11,406 |
|
|
| 9,136 |
|
|
| 24.8 | % |
|
| 19,865 |
|
|
| 16,833 |
|
|
| 18.0 | % |
|
| 1,864 |
|
|
| 1,530 |
|
|
| 21.9 | % |
Austin, TX |
|
| 6,829 |
|
|
| 34,889 |
|
|
| 30,219 |
|
|
| 15.5 | % |
|
| 15,303 |
|
|
| 13,689 |
|
|
| 11.8 | % |
|
| 19,586 |
|
|
| 16,530 |
|
|
| 18.5 | % |
|
| 1,598 |
|
|
| 1,361 |
|
|
| 17.4 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 25,425 |
|
|
| 21,894 |
|
|
| 16.1 | % |
|
| 8,018 |
|
|
| 7,540 |
|
|
| 6.3 | % |
|
| 17,407 |
|
|
| 14,354 |
|
|
| 21.3 | % |
|
| 1,474 |
|
|
| 1,253 |
|
|
| 17.6 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 22,781 |
|
|
| 19,729 |
|
|
| 15.5 | % |
|
| 7,818 |
|
|
| 7,280 |
|
|
| 7.4 | % |
|
| 14,963 |
|
|
| 12,449 |
|
|
| 20.2 | % |
|
| 1,634 |
|
|
| 1,391 |
|
|
| 17.5 | % |
Houston, TX |
|
| 4,867 |
|
|
| 21,283 |
|
|
| 19,428 |
|
|
| 9.5 | % |
|
| 9,420 |
|
|
| 8,356 |
|
|
| 12.7 | % |
|
| 11,863 |
|
|
| 11,072 |
|
|
| 7.1 | % |
|
| 1,363 |
|
|
| 1,236 |
|
|
| 10.3 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 16,577 |
|
|
| 14,113 |
|
|
| 17.5 | % |
|
| 5,286 |
|
|
| 5,364 |
|
|
| (1.5 | )% |
|
| 11,291 |
|
|
| 8,749 |
|
|
| 29.1 | % |
|
| 1,625 |
|
|
| 1,361 |
|
|
| 19.4 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 14,291 |
|
|
| 12,222 |
|
|
| 16.9 | % |
|
| 3,632 |
|
|
| 3,470 |
|
|
| 4.7 | % |
|
| 10,659 |
|
|
| 8,752 |
|
|
| 21.8 | % |
|
| 1,713 |
|
|
| 1,437 |
|
|
| 19.2 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 16,394 |
|
|
| 14,161 |
|
|
| 15.8 | % |
|
| 5,754 |
|
|
| 4,971 |
|
|
| 15.8 | % |
|
| 10,640 |
|
|
| 9,190 |
|
|
| 15.8 | % |
|
| 1,510 |
|
|
| 1,262 |
|
|
| 19.7 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 17,633 |
|
|
| 15,509 |
|
|
| 13.7 | % |
|
| 7,538 |
|
|
| 6,321 |
|
|
| 19.3 | % |
|
| 10,095 |
|
|
| 9,188 |
|
|
| 9.9 | % |
|
| 1,509 |
|
|
| 1,306 |
|
|
| 15.5 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 13,002 |
|
|
| 11,821 |
|
|
| 10.0 | % |
|
| 4,358 |
|
|
| 4,025 |
|
|
| 8.3 | % |
|
| 8,644 |
|
|
| 7,796 |
|
|
| 10.9 | % |
|
| 2,211 |
|
|
| 1,999 |
|
|
| 10.6 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 9,911 |
|
|
| 8,685 |
|
|
| 14.1 | % |
|
| 3,257 |
|
|
| 2,955 |
|
|
| 10.2 | % |
|
| 6,654 |
|
|
| 5,730 |
|
|
| 16.1 | % |
|
| 1,525 |
|
|
| 1,314 |
|
|
| 16.1 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 9,936 |
|
|
| 8,707 |
|
|
| 14.1 | % |
|
| 3,602 |
|
|
| 3,406 |
|
|
| 5.8 | % |
|
| 6,334 |
|
|
| 5,301 |
|
|
| 19.5 | % |
|
| 1,256 |
|
|
| 1,083 |
|
|
| 15.9 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 9,457 |
|
|
| 7,876 |
|
|
| 20.1 | % |
|
| 3,242 |
|
|
| 2,980 |
|
|
| 8.8 | % |
|
| 6,215 |
|
|
| 4,896 |
|
|
| 26.9 | % |
|
| 1,570 |
|
|
| 1,284 |
|
|
| 22.3 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 8,078 |
|
|
| 7,578 |
|
|
| 6.6 | % |
|
| 2,326 |
|
|
| 2,152 |
|
|
| 8.1 | % |
|
| 5,752 |
|
|
| 5,426 |
|
|
| 6.0 | % |
|
| 1,763 |
|
|
| 1,618 |
|
|
| 9.0 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 7,721 |
|
|
| 6,901 |
|
|
| 11.9 | % |
|
| 2,887 |
|
|
| 2,682 |
|
|
| 7.6 | % |
|
| 4,834 |
|
|
| 4,219 |
|
|
| 14.6 | % |
|
| 1,339 |
|
|
| 1,171 |
|
|
| 14.4 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 6,483 |
|
|
| 5,874 |
|
|
| 10.4 | % |
|
| 2,502 |
|
|
| 2,264 |
|
|
| 10.5 | % |
|
| 3,981 |
|
|
| 3,610 |
|
|
| 10.3 | % |
|
| 1,342 |
|
|
| 1,183 |
|
|
| 13.4 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 6,515 |
|
|
| 5,775 |
|
|
| 12.8 | % |
|
| 2,855 |
|
|
| 2,718 |
|
|
| 5.0 | % |
|
| 3,660 |
|
|
| 3,057 |
|
|
| 19.7 | % |
|
| 1,361 |
|
|
| 1,186 |
|
|
| 14.8 | % |
Denver, CO |
|
| 812 |
|
|
| 4,916 |
|
|
| 4,506 |
|
|
| 9.1 | % |
|
| 1,467 |
|
|
| 1,393 |
|
|
| 5.3 | % |
|
| 3,449 |
|
|
| 3,113 |
|
|
| 10.8 | % |
|
| 1,898 |
|
|
| 1,712 |
|
|
| 10.9 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 5,197 |
|
|
| 4,718 |
|
|
| 10.2 | % |
|
| 1,773 |
|
|
| 1,585 |
|
|
| 11.9 | % |
|
| 3,424 |
|
|
| 3,133 |
|
|
| 9.3 | % |
|
| 1,281 |
|
|
| 1,132 |
|
|
| 13.1 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 5,256 |
|
|
| 4,769 |
|
|
| 10.2 | % |
|
| 2,037 |
|
|
| 1,811 |
|
|
| 12.5 | % |
|
| 3,219 |
|
|
| 2,958 |
|
|
| 8.8 | % |
|
| 1,486 |
|
|
| 1,343 |
|
|
| 10.6 | % |
Other |
|
| 7,078 |
|
|
| 33,325 |
|
|
| 29,483 |
|
|
| 13.0 | % |
|
| 11,811 |
|
|
| 10,722 |
|
|
| 10.2 | % |
|
| 21,514 |
|
|
| 18,761 |
|
|
| 14.7 | % |
|
| 1,481 |
|
|
| 1,279 |
|
|
| 15.8 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 495,377 |
|
| $ | 432,206 |
|
|
| 14.6 | % |
| $ | 179,761 |
|
| $ | 163,324 |
|
|
| 10.1 | % |
| $ | 315,616 |
|
| $ | 268,882 |
|
|
| 17.4 | % |
| $ | 1,614 |
|
| $ | 1,383 |
|
|
| 16.7 | % |
Supplemental Data S-5
MULTIFAMILY SAME STORE PORTFOLIO SEQUENTIAL QUARTER COMPARISONS |
Dollars in thousands, except Average Effective Rent per Unit
|
|
|
|
| Revenues |
|
| Expenses |
|
| NOI |
|
| Average Effective Rent per Unit |
| |||||||||||||||||||||||||||||||||||||
|
| Units |
|
| Q3 2022 |
|
| Q2 2022 |
|
| % Chg |
|
| Q3 2022 (1) |
|
| Q2 2022 |
|
| % Chg |
|
| Q3 2022 |
|
| Q2 2022 |
|
| % Chg |
|
| Q3 2022 |
|
| Q2 2022 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 64,073 |
|
| $ | 61,641 |
|
|
| 3.9 | % |
| $ | 23,756 |
|
| $ | 22,386 |
|
|
| 6.1 | % |
| $ | 40,317 |
|
| $ | 39,255 |
|
|
| 2.7 | % |
| $ | 1,793 |
|
| $ | 1,706 |
|
|
| 5.1 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 49,111 |
|
|
| 46,530 |
|
|
| 5.5 | % |
|
| 20,199 |
|
|
| 18,676 |
|
|
| 8.2 | % |
|
| 28,912 |
|
|
| 27,854 |
|
|
| 3.8 | % |
|
| 1,585 |
|
|
| 1,501 |
|
|
| 5.6 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 32,897 |
|
|
| 31,285 |
|
|
| 5.2 | % |
|
| 11,001 |
|
|
| 10,460 |
|
|
| 5.2 | % |
|
| 21,896 |
|
|
| 20,825 |
|
|
| 5.1 | % |
|
| 2,015 |
|
|
| 1,895 |
|
|
| 6.3 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 28,955 |
|
|
| 27,294 |
|
|
| 6.1 | % |
|
| 8,513 |
|
|
| 8,470 |
|
|
| 0.5 | % |
|
| 20,442 |
|
|
| 18,824 |
|
|
| 8.6 | % |
|
| 1,543 |
|
|
| 1,452 |
|
|
| 6.3 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 31,271 |
|
|
| 29,367 |
|
|
| 6.5 | % |
|
| 11,406 |
|
|
| 10,124 |
|
|
| 12.7 | % |
|
| 19,865 |
|
|
| 19,243 |
|
|
| 3.2 | % |
|
| 1,864 |
|
|
| 1,736 |
|
|
| 7.4 | % |
Austin, TX |
|
| 6,829 |
|
|
| 34,889 |
|
|
| 33,167 |
|
|
| 5.2 | % |
|
| 15,303 |
|
|
| 15,407 |
|
|
| (0.7 | )% |
|
| 19,586 |
|
|
| 17,760 |
|
|
| 10.3 | % |
|
| 1,598 |
|
|
| 1,515 |
|
|
| 5.5 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 25,425 |
|
|
| 23,952 |
|
|
| 6.1 | % |
|
| 8,018 |
|
|
| 8,002 |
|
|
| 0.2 | % |
|
| 17,407 |
|
|
| 15,950 |
|
|
| 9.1 | % |
|
| 1,474 |
|
|
| 1,376 |
|
|
| 7.1 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 22,781 |
|
|
| 21,528 |
|
|
| 5.8 | % |
|
| 7,818 |
|
|
| 7,460 |
|
|
| 4.8 | % |
|
| 14,963 |
|
|
| 14,068 |
|
|
| 6.4 | % |
|
| 1,634 |
|
|
| 1,532 |
|
|
| 6.7 | % |
Houston, TX |
|
| 4,867 |
|
|
| 21,283 |
|
|
| 20,725 |
|
|
| 2.7 | % |
|
| 9,420 |
|
|
| 9,490 |
|
|
| (0.7 | )% |
|
| 11,863 |
|
|
| 11,235 |
|
|
| 5.6 | % |
|
| 1,363 |
|
|
| 1,320 |
|
|
| 3.3 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 16,577 |
|
|
| 15,463 |
|
|
| 7.2 | % |
|
| 5,286 |
|
|
| 5,305 |
|
|
| (0.4 | )% |
|
| 11,291 |
|
|
| 10,158 |
|
|
| 11.2 | % |
|
| 1,625 |
|
|
| 1,521 |
|
|
| 6.9 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 14,291 |
|
|
| 13,602 |
|
|
| 5.1 | % |
|
| 3,632 |
|
|
| 3,514 |
|
|
| 3.4 | % |
|
| 10,659 |
|
|
| 10,088 |
|
|
| 5.7 | % |
|
| 1,713 |
|
|
| 1,620 |
|
|
| 5.7 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 16,394 |
|
|
| 15,680 |
|
|
| 4.6 | % |
|
| 5,754 |
|
|
| 5,361 |
|
|
| 7.3 | % |
|
| 10,640 |
|
|
| 10,319 |
|
|
| 3.1 | % |
|
| 1,510 |
|
|
| 1,431 |
|
|
| 5.5 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 17,633 |
|
|
| 16,838 |
|
|
| 4.7 | % |
|
| 7,538 |
|
|
| 7,020 |
|
|
| 7.4 | % |
|
| 10,095 |
|
|
| 9,818 |
|
|
| 2.8 | % |
|
| 1,509 |
|
|
| 1,438 |
|
|
| 4.9 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 13,002 |
|
|
| 12,493 |
|
|
| 4.1 | % |
|
| 4,358 |
|
|
| 3,814 |
|
|
| 14.3 | % |
|
| 8,644 |
|
|
| 8,679 |
|
|
| (0.4 | )% |
|
| 2,211 |
|
|
| 2,122 |
|
|
| 4.2 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 9,911 |
|
|
| 9,459 |
|
|
| 4.8 | % |
|
| 3,257 |
|
|
| 3,101 |
|
|
| 5.0 | % |
|
| 6,654 |
|
|
| 6,358 |
|
|
| 4.7 | % |
|
| 1,525 |
|
|
| 1,448 |
|
|
| 5.3 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 9,936 |
|
|
| 9,486 |
|
|
| 4.7 | % |
|
| 3,602 |
|
|
| 3,701 |
|
|
| (2.7 | )% |
|
| 6,334 |
|
|
| 5,785 |
|
|
| 9.5 | % |
|
| 1,256 |
|
|
| 1,192 |
|
|
| 5.3 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 9,457 |
|
|
| 8,989 |
|
|
| 5.2 | % |
|
| 3,242 |
|
|
| 3,110 |
|
|
| 4.2 | % |
|
| 6,215 |
|
|
| 5,879 |
|
|
| 5.7 | % |
|
| 1,570 |
|
|
| 1,463 |
|
|
| 7.3 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 8,078 |
|
|
| 8,040 |
|
|
| 0.5 | % |
|
| 2,326 |
|
|
| 2,186 |
|
|
| 6.4 | % |
|
| 5,752 |
|
|
| 5,854 |
|
|
| (1.7 | )% |
|
| 1,763 |
|
|
| 1,714 |
|
|
| 2.8 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 7,721 |
|
|
| 7,404 |
|
|
| 4.3 | % |
|
| 2,887 |
|
|
| 2,714 |
|
|
| 6.4 | % |
|
| 4,834 |
|
|
| 4,690 |
|
|
| 3.1 | % |
|
| 1,339 |
|
|
| 1,293 |
|
|
| 3.6 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 6,483 |
|
|
| 6,281 |
|
|
| 3.2 | % |
|
| 2,502 |
|
|
| 2,333 |
|
|
| 7.2 | % |
|
| 3,981 |
|
|
| 3,948 |
|
|
| 0.8 | % |
|
| 1,342 |
|
|
| 1,280 |
|
|
| 4.8 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 6,515 |
|
|
| 6,235 |
|
|
| 4.5 | % |
|
| 2,855 |
|
|
| 2,839 |
|
|
| 0.6 | % |
|
| 3,660 |
|
|
| 3,396 |
|
|
| 7.8 | % |
|
| 1,361 |
|
|
| 1,288 |
|
|
| 5.7 | % |
Denver, CO |
|
| 812 |
|
|
| 4,916 |
|
|
| 4,727 |
|
|
| 4.0 | % |
|
| 1,467 |
|
|
| 1,323 |
|
|
| 10.9 | % |
|
| 3,449 |
|
|
| 3,404 |
|
|
| 1.3 | % |
|
| 1,898 |
|
|
| 1,829 |
|
|
| 3.8 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 5,197 |
|
|
| 5,071 |
|
|
| 2.5 | % |
|
| 1,773 |
|
|
| 1,783 |
|
|
| (0.6 | )% |
|
| 3,424 |
|
|
| 3,288 |
|
|
| 4.1 | % |
|
| 1,281 |
|
|
| 1,222 |
|
|
| 4.9 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 5,256 |
|
|
| 5,013 |
|
|
| 4.8 | % |
|
| 2,037 |
|
|
| 1,834 |
|
|
| 11.1 | % |
|
| 3,219 |
|
|
| 3,179 |
|
|
| 1.3 | % |
|
| 1,486 |
|
|
| 1,423 |
|
|
| 4.4 | % |
Other |
|
| 7,078 |
|
|
| 33,325 |
|
|
| 31,890 |
|
|
| 4.5 | % |
|
| 11,811 |
|
|
| 11,509 |
|
|
| 2.6 | % |
|
| 21,514 |
|
|
| 20,381 |
|
|
| 5.6 | % |
|
| 1,481 |
|
|
| 1,406 |
|
|
| 5.3 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 495,377 |
|
| $ | 472,160 |
|
|
| 4.9 | % |
| $ | 179,761 |
|
| $ | 171,922 |
|
|
| 4.6 | % |
| $ | 315,616 |
|
| $ | 300,238 |
|
|
| 5.1 | % |
| $ | 1,614 |
|
| $ | 1,529 |
|
|
| 5.6 | % |
Supplemental Data S-6
MULTIFAMILY SAME STORE PORTFOLIO YEAR TO DATE COMPARISONS AS OF SEPTEMBER 30, 2022 AND 2021 |
Dollars in thousands, except Average Effective Rent per Unit
|
|
|
|
| Revenues |
|
| Expenses |
|
| NOI |
|
| Average Effective Rent per Unit |
| |||||||||||||||||||||||||||||||||||||
|
| Units |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 (1) |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
|
| Q3 2022 |
|
| Q3 2021 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 185,311 |
|
| $ | 164,074 |
|
|
| 12.9 | % |
| $ | 67,188 |
|
| $ | 62,249 |
|
|
| 7.9 | % |
| $ | 118,123 |
|
| $ | 101,825 |
|
|
| 16.0 | % |
| $ | 1,715 |
|
| $ | 1,511 |
|
|
| 13.6 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 140,401 |
|
|
| 123,020 |
|
|
| 14.1 | % |
|
| 57,454 |
|
|
| 55,557 |
|
|
| 3.4 | % |
|
| 82,947 |
|
|
| 67,463 |
|
|
| 23.0 | % |
|
| 1,508 |
|
|
| 1,319 |
|
|
| 14.3 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 94,112 |
|
|
| 80,359 |
|
|
| 17.1 | % |
|
| 31,516 |
|
|
| 28,147 |
|
|
| 12.0 | % |
|
| 62,596 |
|
|
| 52,212 |
|
|
| 19.9 | % |
|
| 1,903 |
|
|
| 1,589 |
|
|
| 19.7 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 82,729 |
|
|
| 73,441 |
|
|
| 12.6 | % |
|
| 24,675 |
|
|
| 23,069 |
|
|
| 7.0 | % |
|
| 58,054 |
|
|
| 50,372 |
|
|
| 15.3 | % |
|
| 1,464 |
|
|
| 1,287 |
|
|
| 13.7 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 88,528 |
|
|
| 75,651 |
|
|
| 17.0 | % |
|
| 31,168 |
|
|
| 27,913 |
|
|
| 11.7 | % |
|
| 57,360 |
|
|
| 47,738 |
|
|
| 20.2 | % |
|
| 1,750 |
|
|
| 1,489 |
|
|
| 17.6 | % |
Austin, TX |
|
| 6,829 |
|
|
| 99,837 |
|
|
| 86,828 |
|
|
| 15.0 | % |
|
| 43,337 |
|
|
| 40,560 |
|
|
| 6.8 | % |
|
| 56,500 |
|
|
| 46,268 |
|
|
| 22.1 | % |
|
| 1,521 |
|
|
| 1,319 |
|
|
| 15.3 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 72,284 |
|
|
| 63,795 |
|
|
| 13.3 | % |
|
| 23,161 |
|
|
| 21,589 |
|
|
| 7.3 | % |
|
| 49,123 |
|
|
| 42,206 |
|
|
| 16.4 | % |
|
| 1,392 |
|
|
| 1,214 |
|
|
| 14.6 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 64,889 |
|
|
| 56,962 |
|
|
| 13.9 | % |
|
| 22,263 |
|
|
| 20,984 |
|
|
| 6.1 | % |
|
| 42,626 |
|
|
| 35,978 |
|
|
| 18.5 | % |
|
| 1,546 |
|
|
| 1,349 |
|
|
| 14.5 | % |
Houston, TX |
|
| 4,867 |
|
|
| 62,228 |
|
|
| 56,935 |
|
|
| 9.3 | % |
|
| 27,365 |
|
|
| 25,656 |
|
|
| 6.7 | % |
|
| 34,863 |
|
|
| 31,279 |
|
|
| 11.5 | % |
|
| 1,323 |
|
|
| 1,219 |
|
|
| 8.5 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 46,897 |
|
|
| 40,639 |
|
|
| 15.4 | % |
|
| 15,541 |
|
|
| 15,013 |
|
|
| 3.5 | % |
|
| 31,356 |
|
|
| 25,626 |
|
|
| 22.4 | % |
|
| 1,533 |
|
|
| 1,313 |
|
|
| 16.7 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 41,005 |
|
|
| 35,111 |
|
|
| 16.8 | % |
|
| 10,439 |
|
|
| 9,818 |
|
|
| 6.3 | % |
|
| 30,566 |
|
|
| 25,293 |
|
|
| 20.8 | % |
|
| 1,631 |
|
|
| 1,378 |
|
|
| 18.3 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 47,280 |
|
|
| 40,775 |
|
|
| 16.0 | % |
|
| 16,059 |
|
|
| 14,288 |
|
|
| 12.4 | % |
|
| 31,221 |
|
|
| 26,487 |
|
|
| 17.9 | % |
|
| 1,437 |
|
|
| 1,218 |
|
|
| 18.0 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 50,716 |
|
|
| 45,027 |
|
|
| 12.6 | % |
|
| 20,604 |
|
|
| 18,861 |
|
|
| 9.2 | % |
|
| 30,112 |
|
|
| 26,166 |
|
|
| 15.1 | % |
|
| 1,443 |
|
|
| 1,269 |
|
|
| 13.7 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 37,666 |
|
|
| 35,708 |
|
|
| 5.5 | % |
|
| 12,058 |
|
|
| 11,746 |
|
|
| 2.7 | % |
|
| 25,608 |
|
|
| 23,962 |
|
|
| 6.9 | % |
|
| 2,134 |
|
|
| 2,012 |
|
|
| 6.0 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 28,377 |
|
|
| 25,453 |
|
|
| 11.5 | % |
|
| 9,449 |
|
|
| 8,480 |
|
|
| 11.4 | % |
|
| 18,928 |
|
|
| 16,973 |
|
|
| 11.5 | % |
|
| 1,459 |
|
|
| 1,286 |
|
|
| 13.5 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 28,528 |
|
|
| 25,359 |
|
|
| 12.5 | % |
|
| 10,605 |
|
|
| 10,057 |
|
|
| 5.4 | % |
|
| 17,923 |
|
|
| 15,302 |
|
|
| 17.1 | % |
|
| 1,201 |
|
|
| 1,051 |
|
|
| 14.2 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 26,880 |
|
|
| 22,503 |
|
|
| 19.5 | % |
|
| 9,249 |
|
|
| 8,600 |
|
|
| 7.5 | % |
|
| 17,631 |
|
|
| 13,903 |
|
|
| 26.8 | % |
|
| 1,472 |
|
|
| 1,224 |
|
|
| 20.2 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 23,808 |
|
|
| 21,729 |
|
|
| 9.6 | % |
|
| 6,806 |
|
|
| 6,244 |
|
|
| 9.0 | % |
|
| 17,002 |
|
|
| 15,485 |
|
|
| 9.8 | % |
|
| 1,716 |
|
|
| 1,547 |
|
|
| 10.9 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 22,439 |
|
|
| 20,031 |
|
|
| 12.0 | % |
|
| 8,237 |
|
|
| 7,767 |
|
|
| 6.1 | % |
|
| 14,202 |
|
|
| 12,264 |
|
|
| 15.8 | % |
|
| 1,294 |
|
|
| 1,121 |
|
|
| 15.4 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 18,774 |
|
|
| 17,013 |
|
|
| 10.4 | % |
|
| 7,173 |
|
|
| 6,657 |
|
|
| 7.8 | % |
|
| 11,601 |
|
|
| 10,356 |
|
|
| 12.0 | % |
|
| 1,286 |
|
|
| 1,145 |
|
|
| 12.3 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 18,690 |
|
|
| 16,799 |
|
|
| 11.3 | % |
|
| 8,192 |
|
|
| 7,752 |
|
|
| 5.7 | % |
|
| 10,498 |
|
|
| 9,047 |
|
|
| 16.0 | % |
|
| 1,295 |
|
|
| 1,154 |
|
|
| 12.2 | % |
Denver, CO |
|
| 812 |
|
|
| 14,303 |
|
|
| 12,910 |
|
|
| 10.8 | % |
|
| 4,128 |
|
|
| 3,912 |
|
|
| 5.5 | % |
|
| 10,175 |
|
|
| 8,998 |
|
|
| 13.1 | % |
|
| 1,834 |
|
|
| 1,665 |
|
|
| 10.2 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 15,196 |
|
|
| 13,734 |
|
|
| 10.6 | % |
|
| 5,164 |
|
|
| 4,479 |
|
|
| 15.3 | % |
|
| 10,032 |
|
|
| 9,255 |
|
|
| 8.4 | % |
|
| 1,229 |
|
|
| 1,092 |
|
|
| 12.6 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 15,139 |
|
|
| 13,879 |
|
|
| 9.1 | % |
|
| 5,636 |
|
|
| 5,235 |
|
|
| 7.7 | % |
|
| 9,503 |
|
|
| 8,644 |
|
|
| 9.9 | % |
|
| 1,432 |
|
|
| 1,316 |
|
|
| 8.8 | % |
Other |
|
| 7,078 |
|
|
| 95,997 |
|
|
| 85,020 |
|
|
| 12.9 | % |
|
| 34,051 |
|
|
| 30,975 |
|
|
| 9.9 | % |
|
| 61,946 |
|
|
| 54,045 |
|
|
| 14.6 | % |
|
| 1,358 |
|
|
| 1,184 |
|
|
| 14.7 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 1,422,014 |
|
| $ | 1,252,755 |
|
|
| 13.5 | % |
| $ | 511,518 |
|
| $ | 475,608 |
|
|
| 7.6 | % |
| $ | 910,496 |
|
| $ | 777,147 |
|
|
| 17.2 | % |
| $ | 1,537 |
|
| $ | 1,343 |
|
|
| 14.5 | % |
Supplemental Data S-7
MULTIFAMILY DEVELOPMENT PIPELINE |
Dollars in thousands
|
|
|
| Units as of |
| Development Costs as of |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
|
|
| September 30, 2022 |
| September 30, 2022 |
|
|
|
| Expected | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| Expected |
| Spend |
| Expected |
|
| Start |
| Initial |
|
|
|
| ||||||
|
| Location |
| Total |
| Delivered |
| Leased |
| Total |
| to Date |
| Remaining |
|
| Date |
| Occupancy |
| Completion |
| Stabilization (1) | ||||||
MAA Windmill Hill |
| Austin, TX |
|
| 350 |
|
| 323 |
|
| 213 |
| $ | 63,000 |
| $ | 57,737 |
| $ | 5,263 |
|
| 4Q20 |
| 1Q22 |
| 4Q22 |
| 4Q23 |
Novel Val Vista (2) |
| Phoenix, AZ |
|
| 317 |
| — |
| — |
|
| 72,500 |
|
| 54,057 |
|
| 18,443 |
|
| 4Q20 |
| 2Q23 |
| 4Q23 |
| 4Q24 | ||
Novel West Midtown (2) |
| Atlanta, GA |
|
| 340 |
| — |
| — |
|
| 89,500 |
|
| 58,366 |
|
| 31,134 |
|
| 2Q21 |
| 1Q23 |
| 3Q23 |
| 3Q24 | ||
Novel Daybreak (2) |
| Salt Lake City, UT |
|
| 400 |
| — |
| — |
|
| 94,000 |
|
| 65,399 |
|
| 28,601 |
|
| 2Q21 |
| 4Q22 |
| 3Q23 |
| 4Q24 | ||
MAA Milepost 35 (3) |
| Denver, CO |
|
| 352 |
| — |
| — |
|
| 125,000 |
|
| 30,568 |
|
| 94,432 |
|
| 1Q22 |
| 4Q23 |
| 4Q24 |
| 3Q25 | ||
Total Active |
|
|
|
| 1,759 |
|
| 323 |
|
| 213 |
| $ | 444,000 |
| $ | 266,127 |
| $ | 177,873 |
|
|
|
|
|
|
|
|
|
(1) Communities are considered stabilized when achieving 90% average physical occupancy for 90 days.
(2) MAA owns 80% of the joint venture that owns this property.
(3) Previously reported as MAA Central Park I.
MULTIFAMILY LEASE-UP COMMUNITIES |
Dollars in thousands
|
| As of September 30, 2022 |
|
|
|
|
| |||||||||
|
| Location |
| Total Units |
|
| Physical Occupancy |
| Spend to Date |
|
| Construction Completed |
| Expected Stabilization (1) | ||
MAA Westglenn |
| Denver, CO |
| 306 |
|
| 90.2% |
|
| 81,686 |
|
| 1Q22 |
| 4Q22 | |
MAA Park Point |
| Houston, TX |
| 308 |
|
| 86.4% |
|
| 54,792 |
|
| 1Q22 |
| 4Q22 | |
MAA LoSo |
| Charlotte, NC |
| 344 |
|
| 91.6% |
|
| 139,072 |
|
| (2) |
| 1Q23 | |
MAA Robinson |
| Orlando, FL |
| 369 |
|
| 89.7% |
|
| 97,380 |
|
| 4Q21 |
| 1Q23 | |
Total |
|
|
|
| 1,327 |
|
| 89.5% |
| $ | 372,930 |
|
|
|
|
|
(1) Communities are considered stabilized when achieving 90% average physical occupancy for 90 days.
(2) Property was acquired while in lease-up; construction was completed prior to acquisition by MAA.
MULTIFAMILY INTERIOR REDEVELOPMENT PIPELINE |
Dollars in thousands, except per unit data
Nine months ended September 30, 2022 |
|
| ||||||||||||||||
Units Completed |
|
| Redevelopment Spend |
|
| Average Cost per Unit |
|
| Increase in Average Effective Rent per Unit |
|
| Increase in Average Effective Rent per Unit |
| Estimated Units Remaining in Pipeline | ||||
| 5,247 |
|
| $ | 29,907 |
|
| $ | 5,700 |
|
| $ | 138 |
|
| 10.4% |
| 12,000 - 15,000 |
Supplemental Data S-8
2022 ACQUISITION ACTIVITY (THROUGH SEPTEMBER 30, 2022) |
Multifamily Acquisitions |
| Market |
| Apartment Units |
| Closing Date |
MAA Hampton Preserve II |
| Tampa, FL |
| 196 |
| July 2022 |
MAA LoSo |
| Charlotte, NC |
| 344 |
| September 2022 |
Land Acquisition |
| Market |
| Acreage |
| Closing Date |
MAA Florida Street Station |
| Denver, CO |
| 4 |
| March 2022 |
MAA Packing District |
| Orlando, FL |
| 4 |
| May 2022 |
MAA Panorama |
| Denver, CO |
| 6 |
| July 2022 |
2022 DISPOSITION ACTIVITY (THROUGH SEPTEMBER 30, 2022) |
Multifamily Dispositions |
| Market |
| Apartment Units |
| Closing Date |
MAA Deer Run |
| Fort Worth, TX |
| 304 |
| June 2022 |
MAA Oakbend |
| Fort Worth, TX |
| 426 |
| June 2022 |
Land Dispositions |
| Market |
| Acreage |
| Closing Date |
Colonial Promenade |
| Huntsville, AL |
| 2 |
| April 2022 |
Colonial Promenade |
| Huntsville, AL |
| 3 |
| August 2022 |
DEBT AND DEBT COVENANTS AS OF SEPTEMBER 30, 2022 |
Dollars in thousands
DEBT SUMMARIES |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Fixed Rate Versus Floating Rate Debt |
| Balance |
|
| Percent of Total |
|
| Effective Interest Rate |
|
| Average Years to Rate Maturity |
| ||||
Fixed rate debt |
| $ | 4,394,151 |
|
|
| 97.2 | % |
|
| 3.4 | % |
|
| 8.2 |
|
Floating rate debt |
|
| 125,000 |
|
|
| 2.8 | % |
|
| 3.4 | % |
|
| 0.1 |
|
Total |
| $ | 4,519,151 |
|
|
| 100.0 | % |
|
| 3.4 | % |
|
| 8.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Unsecured Versus Secured Debt |
| Balance |
|
| Percent of Total |
|
| Effective Interest Rate |
|
| Average Years to Contract Maturity |
| ||||
Unsecured debt |
| $ | 4,154,820 |
|
|
| 91.9 | % |
|
| 3.4 | % |
|
| 6.4 |
|
Secured debt |
|
| 364,331 |
|
|
| 8.1 | % |
|
| 4.4 | % |
|
| 26.1 |
|
Total |
| $ | 4,519,151 |
|
|
| 100.0 | % |
|
| 3.4 | % |
|
| 8.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Unencumbered Versus Encumbered Assets |
| Total Cost |
|
| Percent of Total |
|
| Q3 2022 NOI |
|
| Percent of Total |
| ||||
Unencumbered gross assets |
| $ | 14,515,719 |
|
|
| 93.4 | % |
| $ | 313,408 |
|
|
| 95.2 | % |
Encumbered gross assets |
|
| 1,027,305 |
|
|
| 6.6 | % |
|
| 15,952 |
|
|
| 4.8 | % |
Total |
| $ | 15,543,024 |
|
|
| 100.0 | % |
| $ | 329,360 |
|
|
| 100.0 | % |
FIXED INTEREST RATE MATURITIES
Maturity |
| Fixed Rate Debt |
|
|
| Effective Interest Rate |
| ||
2022 |
| $ | — |
|
|
|
| — |
|
2023 |
|
| 349,340 |
|
|
|
| 4.2 | % |
2024 |
|
| 398,637 |
|
|
|
| 4.0 | % |
2025 |
|
| 401,927 |
|
|
|
| 4.2 | % |
2026 |
|
| 297,009 |
|
|
|
| 1.2 | % |
2027 |
|
| 596,351 |
|
|
|
| 3.7 | % |
2028 |
|
| 396,543 |
|
|
|
| 4.2 | % |
2029 |
|
| 559,415 |
|
|
|
| 3.7 | % |
2030 |
|
| 297,456 |
|
|
|
| 3.1 | % |
2031 |
|
| 444,819 |
|
|
|
| 1.8 | % |
Thereafter |
|
| 652,654 |
|
|
|
| 3.8 | % |
Total |
| $ | 4,394,151 |
|
|
|
| 3.4 | % |
Supplemental Data S-9
DEBT AND DEBT COVENANTS AS OF SEPTEMBER 30, 2022 (CONTINUED) |
Dollars in thousands
DEBT MATURITIES OF OUTSTANDING BALANCES
Maturity |
| Commercial Paper & Revolving Credit Facility ⁽¹⁾ ⁽²⁾ |
|
| Public Bonds |
|
| Secured |
|
| Total |
| ||||
2022 |
| $ | 125,000 |
|
| $ | — |
|
| $ | — |
|
| $ | 125,000 |
|
2023 |
|
| — |
|
|
| 349,340 |
|
|
| — |
|
|
| 349,340 |
|
2024 |
|
| — |
|
|
| 398,637 |
|
|
| — |
|
|
| 398,637 |
|
2025 |
|
| — |
|
|
| 397,580 |
|
|
| 4,347 |
|
|
| 401,927 |
|
2026 |
|
| — |
|
|
| 297,009 |
|
|
| — |
|
|
| 297,009 |
|
2027 |
|
| — |
|
|
| 596,351 |
|
|
| — |
|
|
| 596,351 |
|
2028 |
|
| — |
|
|
| 396,543 |
|
|
| — |
|
|
| 396,543 |
|
2029 |
|
| — |
|
|
| 559,415 |
|
|
| — |
|
|
| 559,415 |
|
2030 |
|
| — |
|
|
| 297,456 |
|
|
| — |
|
|
| 297,456 |
|
2031 |
|
| — |
|
|
| 444,819 |
|
|
| — |
|
|
| 444,819 |
|
Thereafter |
|
| — |
|
|
| 292,670 |
|
|
| 359,984 |
|
|
| 652,654 |
|
Total |
| $ | 125,000 |
|
| $ | 4,029,820 |
|
| $ | 364,331 |
|
| $ | 4,519,151 |
|
DEBT COVENANT ANALYSIS (1)
Bond Covenants |
| Required |
| Actual |
| Compliance |
Total debt to adjusted total assets |
| 60% or less |
| 29.1% |
| Yes |
Total secured debt to adjusted total assets |
| 40% or less |
| 2.3% |
| Yes |
Consolidated income available for debt service to total annual debt service charge |
| 1.5x or greater for trailing 4 quarters |
| 6.9x |
| Yes |
Total unencumbered assets to total unsecured debt |
| Greater than 150% |
| 346.4% |
| Yes |
|
|
|
|
|
|
|
Bank Covenants |
| Required |
| Actual |
| Compliance |
Total debt to total capitalized asset value |
| 60% or less |
| 21.1% |
| Yes |
Total secured debt to total capitalized asset value |
| 40% or Less |
| 1.8% |
| Yes |
Total adjusted EBITDA to fixed charges |
| 1.5x or greater for trailing 4 quarters |
| 6.9x |
| Yes |
Total unsecured debt to total unsecured capitalized asset value |
| 60% or less |
| 20.2% |
| Yes |
(1) The calculations of the Bond Covenants and Bank Covenants are specifically defined in MAALP’s debt agreements.
Supplemental Data S-10
2022 GUIDANCE |
MAA provides guidance on expected Core FFO per Share and Core AFFO per Share, which are non-GAAP financial measures, along with guidance for expected Net income per diluted common share. A reconciliation of expected Net income per diluted common share to expected Core FFO per Share and Core AFFO per Share is provided below.
|
| Revised Range |
| Revised Midpoint |
Earnings: |
|
|
|
|
Earnings per common share - diluted |
| $5.59 to $5.75 |
| $5.67 |
Core FFO per Share - diluted |
| $8.37 to $8.53 |
| $8.45 |
Core AFFO per Share - diluted |
| $7.59 to $7.75 |
| $7.67 |
|
|
|
|
|
MAA Same Store Portfolio: |
|
|
|
|
Number of units |
|
|
| 96,313 |
Average physical occupancy |
| 95.6% to 96.0% |
| 95.8% |
Property revenue growth |
| 13.0% to 14.0% |
| 13.5% |
Effective rent growth |
| 14.0% to 15.0% |
| 14.5% |
Property operating expense growth |
| 7.0% to 7.5% |
| 7.25% |
NOI growth |
| 16.0% to 18.0% |
| 17.0% |
Real estate tax expense growth |
| 5.5% to 6.0% |
| 5.75% |
|
|
|
|
|
Corporate Expenses: ($ in millions) |
|
|
|
|
Property management expenses |
| $64.0 to $66.0 |
| $65.0 |
General and administrative expenses |
| $58.5 to $60.5 |
| $59.5 |
Total overhead |
| $122.5 to $126.5 |
| $124.5 |
|
|
|
|
|
Transaction/Investment Volume: ($ in millions) |
|
|
|
|
Multifamily acquisition volume |
| $213.0 |
| $213.0 |
Multifamily disposition volume |
| $300.0 to $350.0 |
| $325.0 |
Development investment |
| $200.0 to $250.0 |
| $225.0 |
|
|
|
|
|
Debt: |
|
|
|
|
Average effective interest rate |
| 3.4% to 3.6% |
| 3.5% |
Capitalized interest ($ in millions) |
| $7.5 to $8.5 |
| $8.0 |
|
|
|
|
|
Diluted FFO Shares Outstanding: |
|
|
|
|
Diluted common shares and units |
| 118.5 to 119.0 million |
| 118.75 million |
RECONCILIATION OF NET INCOME PER DILUTED COMMON SHARE TO CORE FFO AND CORE AFFO PER SHARE FOR 2022 GUIDANCE |
|
| Full Year 2022 Guidance Range |
| |||||
|
| Low |
|
| High |
| ||
Earnings per common share - diluted |
| $ | 5.59 |
|
| $ | 5.75 |
|
Real estate depreciation and amortization |
|
| 4.59 |
|
|
| 4.59 |
|
Gains on sale of depreciable assets |
|
| (1.92 | ) |
|
| (1.92 | ) |
FFO per Share - diluted |
|
| 8.26 |
|
|
| 8.42 |
|
Non-Core FFO items (1) |
|
| 0.11 |
|
|
| 0.11 |
|
Core FFO per Share - diluted |
|
| 8.37 |
|
|
| 8.53 |
|
Recurring capital expenditures |
|
| (0.78 | ) |
|
| (0.78 | ) |
Core AFFO per Share - diluted |
| $ | 7.59 |
|
| $ | 7.75 |
|
Supplemental Data S-11
CREDIT RATINGS |
|
| Commercial |
| Long-Term |
|
|
|
| Paper Rating |
| Debt Rating |
| Outlook |
Fitch Ratings (1) |
| F1 |
| A- |
| Stable |
Moody’s Investors Service (2) |
| P-2 |
| Baa1 |
| Positive |
Standard & Poor’s Ratings Services (1) |
| A-2 |
| A- |
| Stable |
COMMON STOCK |
Stock Symbol: |
| MAA |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Exchange Traded: |
| NYSE |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Estimated Future Dates: |
| Q4 2022 |
|
| Q1 2023 |
|
| Q2 2023 |
|
| Q3 2023 |
|
|
|
| |||||
Earnings release & conference call |
| Early |
|
| Late |
|
| Late |
|
| Late |
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Dividend Information - Common Shares: |
| Q3 2021 |
|
| Q4 2021 |
|
| Q1 2022 |
|
| Q2 2022 |
|
| Q3 2022 |
| |||||
Declaration date |
| 9/28/2021 |
|
| 12/7/2021 |
|
| 3/22/2022 |
|
| 5/17/2022 |
|
| 9/27/2022 |
| |||||
Record date |
| 10/15/2021 |
|
| 1/14/2022 |
|
| 4/14/2022 |
|
| 7/15/2022 |
|
| 10/14/2022 |
| |||||
Payment date |
| 10/29/2021 |
|
| 1/31/2022 |
|
| 4/29/2022 |
|
| 7/29/2022 |
|
| 10/31/2022 |
| |||||
Distributions per share |
| $ | 1.0250 |
|
| $ | 1.0875 |
|
| $ | 1.0875 |
|
| $ | 1.2500 |
|
| $ | 1.2500 |
|
INVESTOR RELATIONS DATA |
MAA does not send quarterly reports, earnings releases and supplemental data to shareholders, but provides them upon request.
For recent press releases, SEC filings and other information, call 866-576-9689 (toll free) or email investor.relations@maac.com. This information, as well as access to MAA’s quarterly conference call, is also available on the “For Investors” page of MAA’s website at www.maac.com. |
For Questions Contact: |
|
|
|
|
|
|
|
|
| |
| Name |
| Title | |||||||
| Andrew Schaeffer |
| Senior Vice President, Treasurer and Director of Capital Markets | |||||||
| Jennifer Patrick |
| Director of Investor Relations | |||||||
| Phone: 866-576-9689 (toll free) | |||||||||
| Email: investor.relations@maac.com |
Supplemental Data S-12