Exhibit 99.2
PORTFOLIO STATISTICS |
TOTAL MULTIFAMILY PORTFOLIO AT DECEMBER 31, 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 |
|
|
| 633 |
|
|
| — |
|
|
| 5,907 |
|
|
| — |
|
|
| 5,907 |
|
Charlotte, NC |
|
| 5,867 |
|
|
| — |
|
|
| 344 |
|
|
| 6,211 |
|
|
| — |
|
|
| 6,211 |
|
Austin, TX |
|
| 6,829 |
|
|
| — |
|
|
| 350 |
|
|
| 7,179 |
|
|
| — |
|
|
| 7,179 |
|
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 |
|
|
| 96 |
|
|
| — |
|
|
| 7,174 |
|
|
| — |
|
|
| 7,174 |
|
Total Multifamily Units |
|
| 96,313 |
|
|
| 2,400 |
|
|
| 694 |
|
|
| 99,407 |
|
|
| — |
|
|
| 99,407 |
|
Supplemental Data S-1
PORTFOLIO STATISTICS (CONTINUED) |
TOTAL MULTIFAMILY COMMUNITY STATISTICS (1)
Dollars in thousands, except Average Effective Rent per Unit
|
| As of December 31, 2022 |
|
| Average |
|
| As of December 31, 2022 |
| |||||||||||||||
|
| Gross Real |
|
| Percent to |
|
| Physical |
|
| Rent per |
|
| Completed |
|
| Total Units, |
| ||||||
Atlanta, GA |
| $ | 2,066,682 |
|
|
| 13.9 | % |
|
| 96.1 | % |
| $ | 1,827 |
|
|
| 11,434 |
|
|
|
| |
Dallas, TX |
|
| 1,537,679 |
|
|
| 10.4 | % |
|
| 95.9 | % |
|
| 1,630 |
|
|
| 10,115 |
|
|
|
| |
Orlando, FL |
|
| 1,013,392 |
|
|
| 6.8 | % |
|
| 96.4 | % |
|
| 1,951 |
|
|
| 5,907 |
|
|
|
| |
Tampa, FL |
|
| 987,051 |
|
|
| 6.7 | % |
|
| 96.0 | % |
|
| 2,063 |
|
|
| 5,416 |
|
|
|
| |
Charlotte, NC |
|
| 984,632 |
|
|
| 6.6 | % |
|
| 96.1 | % |
|
| 1,570 |
|
|
| 5,867 |
|
|
|
| |
Austin, TX |
|
| 875,479 |
|
|
| 5.9 | % |
|
| 95.5 | % |
|
| 1,622 |
|
|
| 6,829 |
|
|
|
| |
Raleigh/Durham, NC |
|
| 719,758 |
|
|
| 4.8 | % |
|
| 96.4 | % |
|
| 1,506 |
|
|
| 5,350 |
|
|
|
| |
Houston, TX |
|
| 684,472 |
|
|
| 4.6 | % |
|
| 96.6 | % |
|
| 1,391 |
|
|
| 5,175 |
|
|
|
| |
Northern Virginia |
|
| 567,972 |
|
|
| 3.8 | % |
|
| 95.8 | % |
|
| 2,248 |
|
|
| 1,888 |
|
|
|
| |
Nashville, TN |
|
| 550,620 |
|
|
| 3.7 | % |
|
| 96.0 | % |
|
| 1,671 |
|
|
| 4,375 |
|
|
|
| |
Phoenix, AZ |
|
| 474,405 |
|
|
| 3.2 | % |
|
| 95.8 | % |
|
| 1,761 |
|
|
| 2,968 |
|
|
|
| |
Charleston, SC |
|
| 419,758 |
|
|
| 2.8 | % |
|
| 96.5 | % |
|
| 1,675 |
|
|
| 3,168 |
|
|
|
| |
Fort Worth, TX |
|
| 380,266 |
|
|
| 2.6 | % |
|
| 95.6 | % |
|
| 1,546 |
|
|
| 3,687 |
|
|
|
| |
Jacksonville, FL |
|
| 301,655 |
|
|
| 2.0 | % |
|
| 96.9 | % |
|
| 1,538 |
|
|
| 3,496 |
|
|
|
| |
Denver, CO |
|
| 295,472 |
|
|
| 2.0 | % |
|
| 94.5 | % |
|
| 1,933 |
|
|
| 1,118 |
|
|
|
| |
Richmond, VA |
|
| 273,746 |
|
|
| 1.8 | % |
|
| 96.4 | % |
|
| 1,551 |
|
|
| 2,004 |
|
|
|
| |
Fredericksburg, VA |
|
| 250,661 |
|
|
| 1.7 | % |
|
| 94.8 | % |
|
| 1,773 |
|
|
| 1,435 |
|
|
|
| |
Greenville, SC |
|
| 232,148 |
|
|
| 1.6 | % |
|
| 95.9 | % |
|
| 1,286 |
|
|
| 2,355 |
|
|
|
| |
Savannah, GA |
|
| 221,598 |
|
|
| 1.5 | % |
|
| 96.5 | % |
|
| 1,604 |
|
|
| 1,837 |
|
|
|
| |
Kansas City, MO-KS |
|
| 190,333 |
|
|
| 1.3 | % |
|
| 96.0 | % |
|
| 1,514 |
|
|
| 1,110 |
|
|
|
| |
San Antonio, TX |
|
| 168,531 |
|
|
| 1.1 | % |
|
| 95.0 | % |
|
| 1,381 |
|
|
| 1,504 |
|
|
|
| |
Birmingham, AL |
|
| 166,708 |
|
|
| 1.1 | % |
|
| 95.6 | % |
|
| 1,353 |
|
|
| 1,462 |
|
|
|
| |
All Other Markets by State (individual markets <1% gross real assets) |
| |||||||||||||||||||||||
Tennessee |
|
| 194,929 |
|
|
| 1.3 | % |
|
| 95.5 | % |
|
| 1,311 |
|
|
| 2,754 |
|
|
|
| |
Florida |
|
| 182,834 |
|
|
| 1.2 | % |
|
| 95.2 | % |
|
| 1,788 |
|
|
| 1,806 |
|
|
|
| |
Alabama |
|
| 169,306 |
|
|
| 1.1 | % |
|
| 95.4 | % |
|
| 1,370 |
|
|
| 1,648 |
|
|
|
| |
Virginia |
|
| 157,423 |
|
|
| 1.1 | % |
|
| 96.8 | % |
|
| 1,724 |
|
|
| 1,039 |
|
|
|
| |
Kentucky |
|
| 96,655 |
|
|
| 0.7 | % |
|
| 96.6 | % |
|
| 1,144 |
|
|
| 1,308 |
|
|
|
| |
Maryland |
|
| 82,104 |
|
|
| 0.6 | % |
|
| 96.7 | % |
|
| 2,034 |
|
|
| 361 |
|
|
|
| |
Nevada |
|
| 73,999 |
|
|
| 0.5 | % |
|
| 96.1 | % |
|
| 1,575 |
|
|
| 721 |
|
|
|
| |
South Carolina |
|
| 38,252 |
|
|
| 0.3 | % |
|
| 95.3 | % |
|
| 1,142 |
|
|
| 576 |
|
|
|
| |
Stabilized Communities |
| $ | 14,358,520 |
|
|
| 96.7 | % |
|
| 96.0 | % |
| $ | 1,654 |
|
|
| 98,713 |
|
|
|
| |
Charlotte, NC |
|
| 139,167 |
|
|
| 0.9 | % |
|
| 84.3 | % |
|
| 2,062 |
|
|
| 344 |
|
|
| 344 |
|
Salt Lake City, UT |
|
| 74,195 |
|
|
| 0.5 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 400 |
|
Atlanta, GA |
|
| 72,536 |
|
|
| 0.5 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 340 |
|
Austin, TX |
|
| 58,961 |
|
|
| 0.4 | % |
|
| 65.1 | % |
|
| 1,647 |
|
|
| 350 |
|
|
| 350 |
|
Phoenix, AZ |
|
| 57,646 |
|
|
| 0.4 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 317 |
|
Denver, CO |
|
| 41,324 |
|
|
| 0.3 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 352 |
|
Tampa, FL |
|
| 32,553 |
|
|
| 0.2 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 495 |
|
Raleigh/Durham, NC |
|
| 13,445 |
|
|
| 0.1 | % |
|
| — |
|
|
| — |
|
|
| — |
|
|
| 406 |
|
Lease-up / Development Communities |
| $ | 489,827 |
|
|
| 3.3 | % |
|
| 74.6 | % |
| $ | 1,853 |
|
|
| 694 |
|
|
| 3,004 |
|
Total Multifamily Communities |
| $ | 14,848,347 |
|
|
| 100.0 | % |
|
| 95.9 | % |
| $ | 1,655 |
|
|
| 99,407 |
|
|
| 101,717 |
|
Supplemental Data S-2
COMPONENTS OF NET OPERATING INCOME |
Dollars in thousands
|
| As of December 31, 2022 |
|
| Three Months Ended |
| ||||||||||||||
|
| Apartment Units |
|
| Gross Real Assets |
|
| December 31, 2022 |
|
| December 31, 2021 |
|
| Percent |
| |||||
Operating Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
| 96,313 |
|
| $ | 13,794,995 |
|
| $ | 502,695 |
|
| $ | 442,479 |
|
|
| 13.6 | % |
Non-Same Store Communities |
|
| 2,400 |
|
|
| 563,525 |
|
|
| 15,578 |
|
|
| 15,137 |
|
|
|
| |
Lease-up/Development Communities |
|
| 694 |
|
|
| 489,827 |
|
|
| 3,238 |
|
|
| — |
|
|
|
| |
Total Multifamily Portfolio |
|
| 99,407 |
|
| $ | 14,848,347 |
|
| $ | 521,511 |
|
| $ | 457,616 |
|
|
|
| |
Commercial Property/Land |
|
| — |
|
|
| 347,688 |
|
|
| 6,454 |
|
|
| 5,959 |
|
|
|
| |
Total Operating Revenues |
|
| 99,407 |
|
| $ | 15,196,035 |
|
| $ | 527,965 |
|
| $ | 463,575 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Property Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
|
|
|
|
|
| $ | 170,496 |
|
| $ | 158,054 |
|
|
| 7.9 | % | ||
Non-Same Store Communities |
|
|
|
|
|
|
|
| 6,647 |
|
|
| 6,426 |
|
|
|
| |||
Lease-up/Development Communities |
|
|
|
|
|
|
|
| 1,203 |
|
|
| 81 |
|
|
|
| |||
Hurricane Expenses |
|
|
|
|
|
|
|
| 227 |
|
|
| — |
|
|
|
| |||
Total Multifamily Portfolio |
|
|
|
|
|
|
| $ | 178,573 |
|
| $ | 164,561 |
|
|
|
| |||
Commercial Property/Land |
|
|
|
|
|
|
|
| 2,601 |
|
|
| 2,537 |
|
|
|
| |||
Total Property Operating Expenses |
|
|
|
|
|
|
| $ | 181,174 |
|
| $ | 167,098 |
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Same Store Communities |
|
|
|
|
|
|
| $ | 332,199 |
|
| $ | 284,425 |
|
|
| 16.8 | % | ||
Non-Same Store Communities |
|
|
|
|
|
|
|
| 8,931 |
|
|
| 8,711 |
|
|
|
| |||
Lease-up/Development Communities |
|
|
|
|
|
|
|
| 2,035 |
|
|
| (81 | ) |
|
|
| |||
Hurricane Expenses |
|
|
|
|
|
|
|
| (227 | ) |
|
| — |
|
|
|
| |||
Total Multifamily Portfolio |
|
|
|
|
|
|
| $ | 342,938 |
|
| $ | 293,055 |
|
|
|
| |||
Commercial Property/Land |
|
|
|
|
|
|
|
| 3,853 |
|
|
| 3,422 |
|
|
|
| |||
Total Net Operating Income |
|
|
|
|
|
|
| $ | 346,791 |
|
| $ | 296,477 |
|
|
| 17.0 | % |
COMPONENTS OF SAME STORE PORTFOLIO PROPERTY OPERATING EXPENSES |
Dollars in thousands
|
| Three Months Ended |
|
| Year Ended |
| ||||||||||||||||||
|
| December 31, 2022 |
|
| December 31, 2021 |
|
| Percent Change |
|
| December 31, 2022 |
|
| December 31, 2021 |
|
| Percent |
| ||||||
Property Taxes |
| $ | 63,567 |
|
| $ | 57,788 |
|
|
| 10.0 | % |
| $ | 246,235 |
|
| $ | 231,240 |
|
|
| 6.5 | % |
Personnel |
|
| 36,635 |
|
|
| 34,800 |
|
|
| 5.3 | % |
|
| 148,464 |
|
|
| 138,897 |
|
|
| 6.9 | % |
Utilities |
|
| 31,289 |
|
|
| 29,263 |
|
|
| 6.9 | % |
|
| 124,259 |
|
|
| 117,376 |
|
|
| 5.9 | % |
Building Repair and Maintenance |
|
| 20,732 |
|
|
| 18,665 |
|
|
| 11.1 | % |
|
| 86,642 |
|
|
| 77,442 |
|
|
| 11.9 | % |
Office Operations |
|
| 6,940 |
|
|
| 6,336 |
|
|
| 9.5 | % |
|
| 27,704 |
|
|
| 23,380 |
|
|
| 18.5 | % |
Insurance |
|
| 6,971 |
|
|
| 6,241 |
|
|
| 11.7 | % |
|
| 26,494 |
|
|
| 23,438 |
|
|
| 13.0 | % |
Marketing |
|
| 4,362 |
|
|
| 4,961 |
|
|
| (12.1 | )% |
|
| 22,216 |
|
|
| 21,889 |
|
|
| 1.5 | % |
Total Property Operating Expenses (1) |
| $ | 170,496 |
|
| $ | 158,054 |
|
|
| 7.9 | % |
| $ | 682,014 |
|
| $ | 633,662 |
|
|
| 7.6 | % |
Supplemental Data S-3
MULTIFAMILY SAME STORE PORTFOLIO NOI CONTRIBUTION PERCENTAGE |
|
|
|
|
|
|
|
| Average Physical Occupancy |
| |||||||||||||||
|
|
|
|
| Percent of |
|
| Three Months Ended |
|
| Year Ended |
| ||||||||||||
|
| Apartment Units |
|
| Same Store NOI |
|
| December 31, 2022 |
|
| December 31, 2021 |
|
| December 31, 2022 |
|
| December 31, 2021 |
| ||||||
Atlanta, GA |
|
| 11,434 |
|
|
| 12.8 | % |
|
| 95.4 | % |
|
| 95.7 | % |
|
| 95.4 | % |
|
| 95.5 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 8.9 | % |
|
| 95.5 | % |
|
| 95.7 | % |
|
| 95.6 | % |
|
| 95.7 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 7.0 | % |
|
| 95.7 | % |
|
| 96.6 | % |
|
| 96.0 | % |
|
| 97.1 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 6.5 | % |
|
| 96.1 | % |
|
| 96.4 | % |
|
| 96.2 | % |
|
| 96.0 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 6.4 | % |
|
| 95.7 | % |
|
| 96.0 | % |
|
| 95.8 | % |
|
| 96.2 | % |
Austin, TX |
|
| 6,829 |
|
|
| 6.0 | % |
|
| 94.8 | % |
|
| 95.1 | % |
|
| 95.2 | % |
|
| 95.6 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 5.5 | % |
|
| 95.6 | % |
|
| 95.5 | % |
|
| 95.6 | % |
|
| 95.9 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 4.8 | % |
|
| 95.7 | % |
|
| 95.7 | % |
|
| 95.8 | % |
|
| 95.6 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 3.8 | % |
|
| 95.8 | % |
|
| 96.0 | % |
|
| 95.9 | % |
|
| 96.3 | % |
Houston, TX |
|
| 4,867 |
|
|
| 3.6 | % |
|
| 95.9 | % |
|
| 96.2 | % |
|
| 95.6 | % |
|
| 95.3 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 3.4 | % |
|
| 96.2 | % |
|
| 97.2 | % |
|
| 96.5 | % |
|
| 97.5 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 3.3 | % |
|
| 96.1 | % |
|
| 96.6 | % |
|
| 95.9 | % |
|
| 96.9 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 3.2 | % |
|
| 95.1 | % |
|
| 96.1 | % |
|
| 95.5 | % |
|
| 96.2 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 2.9 | % |
|
| 96.0 | % |
|
| 95.5 | % |
|
| 95.7 | % |
|
| 95.6 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 2.1 | % |
|
| 96.0 | % |
|
| 96.1 | % |
|
| 96.1 | % |
|
| 96.6 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 2.0 | % |
|
| 96.1 | % |
|
| 97.2 | % |
|
| 96.7 | % |
|
| 97.3 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 2.0 | % |
|
| 96.1 | % |
|
| 95.9 | % |
|
| 96.3 | % |
|
| 96.3 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 1.8 | % |
|
| 95.9 | % |
|
| 96.4 | % |
|
| 96.3 | % |
|
| 97.0 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 1.5 | % |
|
| 95.1 | % |
|
| 96.1 | % |
|
| 95.0 | % |
|
| 97.0 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 1.2 | % |
|
| 95.9 | % |
|
| 95.2 | % |
|
| 95.8 | % |
|
| 96.3 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 1.1 | % |
|
| 94.8 | % |
|
| 95.6 | % |
|
| 95.6 | % |
|
| 96.1 | % |
Denver, CO |
|
| 812 |
|
|
| 1.1 | % |
|
| 95.4 | % |
|
| 94.5 | % |
|
| 95.7 | % |
|
| 94.8 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 1.1 | % |
|
| 95.4 | % |
|
| 96.0 | % |
|
| 95.6 | % |
|
| 96.8 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 1.1 | % |
|
| 95.9 | % |
|
| 95.8 | % |
|
| 95.7 | % |
|
| 95.3 | % |
Other |
|
| 7,078 |
|
|
| 6.9 | % |
|
| 95.8 | % |
|
| 96.3 | % |
|
| 96.0 | % |
|
| 96.7 | % |
Total Same Store |
|
| 96,313 |
|
|
| 100.0 | % |
|
| 95.6 | % |
|
| 96.0 | % |
|
| 95.7 | % |
|
| 96.1 | % |
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 |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 (1) |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 65,166 |
|
| $ | 57,933 |
|
|
| 12.5 | % |
| $ | 22,590 |
|
| $ | 20,417 |
|
|
| 10.6 | % |
| $ | 42,576 |
|
| $ | 37,516 |
|
|
| 13.5 | % |
| $ | 1,827 |
|
| $ | 1,611 |
|
|
| 13.4 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 49,727 |
|
|
| 43,479 |
|
|
| 14.4 | % |
|
| 20,106 |
|
|
| 18,751 |
|
|
| 7.2 | % |
|
| 29,621 |
|
|
| 24,728 |
|
|
| 19.8 | % |
|
| 1,619 |
|
|
| 1,403 |
|
|
| 15.4 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 33,693 |
|
|
| 28,886 |
|
|
| 16.6 | % |
|
| 10,425 |
|
|
| 9,225 |
|
|
| 13.0 | % |
|
| 23,268 |
|
|
| 19,661 |
|
|
| 18.3 | % |
|
| 2,065 |
|
|
| 1,730 |
|
|
| 19.4 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 32,027 |
|
|
| 27,000 |
|
|
| 18.6 | % |
|
| 10,280 |
|
|
| 9,102 |
|
|
| 12.9 | % |
|
| 21,747 |
|
|
| 17,898 |
|
|
| 21.5 | % |
|
| 1,919 |
|
|
| 1,594 |
|
|
| 20.4 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 29,158 |
|
|
| 25,704 |
|
|
| 13.4 | % |
|
| 8,035 |
|
|
| 7,664 |
|
|
| 4.8 | % |
|
| 21,123 |
|
|
| 18,040 |
|
|
| 17.1 | % |
|
| 1,570 |
|
|
| 1,365 |
|
|
| 15.0 | % |
Austin, TX |
|
| 6,829 |
|
|
| 35,160 |
|
|
| 30,929 |
|
|
| 13.7 | % |
|
| 15,359 |
|
|
| 13,373 |
|
|
| 14.9 | % |
|
| 19,801 |
|
|
| 17,556 |
|
|
| 12.8 | % |
|
| 1,622 |
|
|
| 1,403 |
|
|
| 15.6 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 25,895 |
|
|
| 22,248 |
|
|
| 16.4 | % |
|
| 7,467 |
|
|
| 7,096 |
|
|
| 5.2 | % |
|
| 18,428 |
|
|
| 15,152 |
|
|
| 21.6 | % |
|
| 1,506 |
|
|
| 1,292 |
|
|
| 16.5 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 23,059 |
|
|
| 20,125 |
|
|
| 14.6 | % |
|
| 7,055 |
|
|
| 6,690 |
|
|
| 5.5 | % |
|
| 16,004 |
|
|
| 13,435 |
|
|
| 19.1 | % |
|
| 1,671 |
|
|
| 1,436 |
|
|
| 16.4 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 16,999 |
|
|
| 14,380 |
|
|
| 18.2 | % |
|
| 4,297 |
|
|
| 4,999 |
|
|
| (14.0 | )% |
|
| 12,702 |
|
|
| 9,381 |
|
|
| 35.4 | % |
|
| 1,675 |
|
|
| 1,410 |
|
|
| 18.8 | % |
Houston, TX |
|
| 4,867 |
|
|
| 21,628 |
|
|
| 19,825 |
|
|
| 9.1 | % |
|
| 9,634 |
|
|
| 9,537 |
|
|
| 1.0 | % |
|
| 11,994 |
|
|
| 10,288 |
|
|
| 16.6 | % |
|
| 1,382 |
|
|
| 1,266 |
|
|
| 9.2 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 16,603 |
|
|
| 14,681 |
|
|
| 13.1 | % |
|
| 5,326 |
|
|
| 4,760 |
|
|
| 11.9 | % |
|
| 11,277 |
|
|
| 9,921 |
|
|
| 13.7 | % |
|
| 1,538 |
|
|
| 1,325 |
|
|
| 16.1 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 14,499 |
|
|
| 12,753 |
|
|
| 13.7 | % |
|
| 3,451 |
|
|
| 3,146 |
|
|
| 9.7 | % |
|
| 11,048 |
|
|
| 9,607 |
|
|
| 15.0 | % |
|
| 1,747 |
|
|
| 1,511 |
|
|
| 15.6 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 17,873 |
|
|
| 15,825 |
|
|
| 12.9 | % |
|
| 7,181 |
|
|
| 6,452 |
|
|
| 11.3 | % |
|
| 10,692 |
|
|
| 9,373 |
|
|
| 14.1 | % |
|
| 1,540 |
|
|
| 1,351 |
|
|
| 14.0 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 13,222 |
|
|
| 11,994 |
|
|
| 10.2 | % |
|
| 3,718 |
|
|
| 3,775 |
|
|
| (1.5 | )% |
|
| 9,504 |
|
|
| 8,219 |
|
|
| 15.6 | % |
|
| 2,248 |
|
|
| 2,047 |
|
|
| 9.8 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 9,995 |
|
|
| 8,827 |
|
|
| 13.2 | % |
|
| 3,149 |
|
|
| 2,791 |
|
|
| 12.8 | % |
|
| 6,846 |
|
|
| 6,036 |
|
|
| 13.4 | % |
|
| 1,551 |
|
|
| 1,373 |
|
|
| 12.9 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 9,609 |
|
|
| 8,165 |
|
|
| 17.7 | % |
|
| 2,840 |
|
|
| 2,839 |
|
|
| 0.0 | % |
|
| 6,769 |
|
|
| 5,326 |
|
|
| 27.1 | % |
|
| 1,604 |
|
|
| 1,337 |
|
|
| 20.0 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 10,058 |
|
|
| 8,911 |
|
|
| 12.9 | % |
|
| 3,392 |
|
|
| 3,290 |
|
|
| 3.1 | % |
|
| 6,666 |
|
|
| 5,621 |
|
|
| 18.6 | % |
|
| 1,286 |
|
|
| 1,134 |
|
|
| 13.3 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 8,187 |
|
|
| 7,727 |
|
|
| 6.0 | % |
|
| 2,211 |
|
|
| 2,085 |
|
|
| 6.0 | % |
|
| 5,976 |
|
|
| 5,642 |
|
|
| 5.9 | % |
|
| 1,773 |
|
|
| 1,673 |
|
|
| 6.0 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 7,816 |
|
|
| 7,114 |
|
|
| 9.9 | % |
|
| 2,717 |
|
|
| 2,496 |
|
|
| 8.9 | % |
|
| 5,099 |
|
|
| 4,618 |
|
|
| 10.4 | % |
|
| 1,348 |
|
|
| 1,221 |
|
|
| 10.4 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 6,446 |
|
|
| 5,917 |
|
|
| 8.9 | % |
|
| 2,440 |
|
|
| 2,351 |
|
|
| 3.8 | % |
|
| 4,006 |
|
|
| 3,566 |
|
|
| 12.3 | % |
|
| 1,353 |
|
|
| 1,209 |
|
|
| 11.9 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 6,547 |
|
|
| 5,874 |
|
|
| 11.5 | % |
|
| 2,810 |
|
|
| 2,461 |
|
|
| 14.2 | % |
|
| 3,737 |
|
|
| 3,413 |
|
|
| 9.5 | % |
|
| 1,381 |
|
|
| 1,205 |
|
|
| 14.6 | % |
Denver, CO |
|
| 812 |
|
|
| 5,019 |
|
|
| 4,484 |
|
|
| 11.9 | % |
|
| 1,340 |
|
|
| 1,268 |
|
|
| 5.7 | % |
|
| 3,679 |
|
|
| 3,216 |
|
|
| 14.4 | % |
|
| 1,934 |
|
|
| 1,752 |
|
|
| 10.4 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 5,288 |
|
|
| 4,794 |
|
|
| 10.3 | % |
|
| 1,704 |
|
|
| 1,601 |
|
|
| 6.4 | % |
|
| 3,584 |
|
|
| 3,193 |
|
|
| 12.2 | % |
|
| 1,296 |
|
|
| 1,159 |
|
|
| 11.8 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 5,306 |
|
|
| 4,837 |
|
|
| 9.7 | % |
|
| 1,771 |
|
|
| 1,640 |
|
|
| 8.0 | % |
|
| 3,535 |
|
|
| 3,197 |
|
|
| 10.6 | % |
|
| 1,514 |
|
|
| 1,372 |
|
|
| 10.4 | % |
Other |
|
| 7,078 |
|
|
| 33,715 |
|
|
| 30,067 |
|
|
| 12.1 | % |
|
| 11,198 |
|
|
| 10,245 |
|
|
| 9.3 | % |
|
| 22,517 |
|
|
| 19,822 |
|
|
| 13.6 | % |
|
| 1,507 |
|
|
| 1,320 |
|
|
| 14.2 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 502,695 |
|
| $ | 442,479 |
|
|
| 13.6 | % |
| $ | 170,496 |
|
| $ | 158,054 |
|
|
| 7.9 | % |
| $ | 332,199 |
|
| $ | 284,425 |
|
|
| 16.8 | % |
| $ | 1,646 |
|
| $ | 1,433 |
|
|
| 14.9 | % |
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 |
|
| Q4 2022 |
|
| Q3 2022 |
|
| % Chg |
|
| Q4 2022 (1) |
|
| Q3 2022 (2) |
|
| % Chg |
|
| Q4 2022 |
|
| Q3 2022 |
|
| % Chg |
|
| Q4 2022 |
|
| Q3 2022 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 65,166 |
|
| $ | 64,073 |
|
|
| 1.7 | % |
| $ | 22,590 |
|
| $ | 23,756 |
|
|
| (4.9 | )% |
| $ | 42,576 |
|
| $ | 40,317 |
|
|
| 5.6 | % |
| $ | 1,827 |
|
| $ | 1,793 |
|
|
| 1.9 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 49,727 |
|
|
| 49,111 |
|
|
| 1.3 | % |
|
| 20,106 |
|
|
| 20,199 |
|
|
| (0.5 | )% |
|
| 29,621 |
|
|
| 28,912 |
|
|
| 2.5 | % |
|
| 1,619 |
|
|
| 1,585 |
|
|
| 2.2 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 33,693 |
|
|
| 32,897 |
|
|
| 2.4 | % |
|
| 10,425 |
|
|
| 11,001 |
|
|
| (5.2 | )% |
|
| 23,268 |
|
|
| 21,896 |
|
|
| 6.3 | % |
|
| 2,065 |
|
|
| 2,015 |
|
|
| 2.5 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 32,027 |
|
|
| 31,271 |
|
|
| 2.4 | % |
|
| 10,280 |
|
|
| 11,406 |
|
|
| (9.9 | )% |
|
| 21,747 |
|
|
| 19,865 |
|
|
| 9.5 | % |
|
| 1,919 |
|
|
| 1,864 |
|
|
| 2.9 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 29,158 |
|
|
| 28,955 |
|
|
| 0.7 | % |
|
| 8,035 |
|
|
| 8,513 |
|
|
| (5.6 | )% |
|
| 21,123 |
|
|
| 20,442 |
|
|
| 3.3 | % |
|
| 1,570 |
|
|
| 1,543 |
|
|
| 1.8 | % |
Austin, TX |
|
| 6,829 |
|
|
| 35,160 |
|
|
| 34,889 |
|
|
| 0.8 | % |
|
| 15,359 |
|
|
| 15,303 |
|
|
| 0.4 | % |
|
| 19,801 |
|
|
| 19,586 |
|
|
| 1.1 | % |
|
| 1,622 |
|
|
| 1,598 |
|
|
| 1.5 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 25,895 |
|
|
| 25,425 |
| �� |
| 1.8 | % |
|
| 7,467 |
|
|
| 8,018 |
|
|
| (6.9 | )% |
|
| 18,428 |
|
|
| 17,407 |
|
|
| 5.9 | % |
|
| 1,506 |
|
|
| 1,474 |
|
|
| 2.2 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 23,059 |
|
|
| 22,781 |
|
|
| 1.2 | % |
|
| 7,055 |
|
|
| 7,818 |
|
|
| (9.8 | )% |
|
| 16,004 |
|
|
| 14,963 |
|
|
| 7.0 | % |
|
| 1,671 |
|
|
| 1,634 |
|
|
| 2.3 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 16,999 |
|
|
| 16,577 |
|
|
| 2.5 | % |
|
| 4,297 |
|
|
| 5,286 |
|
|
| (18.7 | )% |
|
| 12,702 |
|
|
| 11,291 |
|
|
| 12.5 | % |
|
| 1,675 |
|
|
| 1,625 |
|
|
| 3.1 | % |
Houston, TX |
|
| 4,867 |
|
|
| 21,628 |
|
|
| 21,283 |
|
|
| 1.6 | % |
|
| 9,634 |
|
|
| 9,420 |
|
|
| 2.3 | % |
|
| 11,994 |
|
|
| 11,863 |
|
|
| 1.1 | % |
|
| 1,382 |
|
|
| 1,363 |
|
|
| 1.4 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 16,603 |
|
|
| 16,394 |
|
|
| 1.3 | % |
|
| 5,326 |
|
|
| 5,754 |
|
|
| (7.4 | )% |
|
| 11,277 |
|
|
| 10,640 |
|
|
| 6.0 | % |
|
| 1,538 |
|
|
| 1,510 |
|
|
| 1.9 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 14,499 |
|
|
| 14,291 |
|
|
| 1.5 | % |
|
| 3,451 |
|
|
| 3,632 |
|
|
| (5.0 | )% |
|
| 11,048 |
|
|
| 10,659 |
|
|
| 3.6 | % |
|
| 1,747 |
|
|
| 1,713 |
|
|
| 2.0 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 17,873 |
|
|
| 17,633 |
|
|
| 1.4 | % |
|
| 7,181 |
|
|
| 7,538 |
|
|
| (4.7 | )% |
|
| 10,692 |
|
|
| 10,095 |
|
|
| 5.9 | % |
|
| 1,540 |
|
|
| 1,509 |
|
|
| 2.1 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 13,222 |
|
|
| 13,002 |
|
|
| 1.7 | % |
|
| 3,718 |
|
|
| 4,358 |
|
|
| (14.7 | )% |
|
| 9,504 |
|
|
| 8,644 |
|
|
| 9.9 | % |
|
| 2,248 |
|
|
| 2,211 |
|
|
| 1.7 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 9,995 |
|
|
| 9,911 |
|
|
| 0.8 | % |
|
| 3,149 |
|
|
| 3,257 |
|
|
| (3.3 | )% |
|
| 6,846 |
|
|
| 6,654 |
|
|
| 2.9 | % |
|
| 1,551 |
|
|
| 1,525 |
|
|
| 1.7 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 9,609 |
|
|
| 9,457 |
|
|
| 1.6 | % |
|
| 2,840 |
|
|
| 3,242 |
|
|
| (12.4 | )% |
|
| 6,769 |
|
|
| 6,215 |
|
|
| 8.9 | % |
|
| 1,604 |
|
|
| 1,570 |
|
|
| 2.1 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 10,058 |
|
|
| 9,936 |
|
|
| 1.2 | % |
|
| 3,392 |
|
|
| 3,602 |
|
|
| (5.8 | )% |
|
| 6,666 |
|
|
| 6,334 |
|
|
| 5.2 | % |
|
| 1,286 |
|
|
| 1,256 |
|
|
| 2.4 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 8,187 |
|
|
| 8,078 |
|
|
| 1.3 | % |
|
| 2,211 |
|
|
| 2,326 |
|
|
| (4.9 | )% |
|
| 5,976 |
|
|
| 5,752 |
|
|
| 3.9 | % |
|
| 1,773 |
|
|
| 1,763 |
|
|
| 0.6 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 7,816 |
|
|
| 7,721 |
|
|
| 1.2 | % |
|
| 2,717 |
|
|
| 2,887 |
|
|
| (5.9 | )% |
|
| 5,099 |
|
|
| 4,834 |
|
|
| 5.5 | % |
|
| 1,348 |
|
|
| 1,339 |
|
|
| 0.7 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 6,446 |
|
|
| 6,483 |
|
|
| (0.6 | )% |
|
| 2,440 |
|
|
| 2,502 |
|
|
| (2.5 | )% |
|
| 4,006 |
|
|
| 3,981 |
|
|
| 0.6 | % |
|
| 1,353 |
|
|
| 1,342 |
|
|
| 0.8 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 6,547 |
|
|
| 6,515 |
|
|
| 0.5 | % |
|
| 2,810 |
|
|
| 2,855 |
|
|
| (1.6 | )% |
|
| 3,737 |
|
|
| 3,660 |
|
|
| 2.1 | % |
|
| 1,381 |
|
|
| 1,361 |
|
|
| 1.5 | % |
Denver, CO |
|
| 812 |
|
|
| 5,019 |
|
|
| 4,916 |
|
|
| 2.1 | % |
|
| 1,340 |
|
|
| 1,467 |
|
|
| (8.7 | )% |
|
| 3,679 |
|
|
| 3,449 |
|
|
| 6.7 | % |
|
| 1,934 |
|
|
| 1,898 |
|
|
| 1.9 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 5,288 |
|
|
| 5,197 |
|
|
| 1.8 | % |
|
| 1,704 |
|
|
| 1,773 |
|
|
| (3.9 | )% |
|
| 3,584 |
|
|
| 3,424 |
|
|
| 4.7 | % |
|
| 1,296 |
|
|
| 1,281 |
|
|
| 1.2 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 5,306 |
|
|
| 5,256 |
|
|
| 1.0 | % |
|
| 1,771 |
|
|
| 2,037 |
|
|
| (13.1 | )% |
|
| 3,535 |
|
|
| 3,219 |
|
|
| 9.8 | % |
|
| 1,514 |
|
|
| 1,486 |
|
|
| 1.8 | % |
Other |
|
| 7,078 |
|
|
| 33,715 |
|
|
| 33,325 |
|
|
| 1.2 | % |
|
| 11,198 |
|
|
| 11,811 |
|
|
| (5.2 | )% |
|
| 22,517 |
|
|
| 21,514 |
|
|
| 4.7 | % |
|
| 1,507 |
|
|
| 1,481 |
|
|
| 1.8 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 502,695 |
|
| $ | 495,377 |
|
|
| 1.5 | % |
| $ | 170,496 |
|
| $ | 179,761 |
|
|
| (5.2 | )% |
| $ | 332,199 |
|
| $ | 315,616 |
|
|
| 5.3 | % |
| $ | 1,646 |
|
| $ | 1,614 |
|
|
| 2.0 | % |
Supplemental Data S-6
MULTIFAMILY SAME STORE PORTFOLIO FULL YEAR COMPARISONS AS OF DECEMBER 31, 2022 AND 2021 |
Dollars in thousands, except Average Effective Rent per Unit
|
|
|
|
| Revenues |
|
| Expenses |
|
| NOI |
|
| Average Effective Rent per Unit |
| |||||||||||||||||||||||||||||||||||||
|
| Units |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 (1) |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
|
| Q4 2022 |
|
| Q4 2021 |
|
| % Chg |
| |||||||||||||
Atlanta, GA |
|
| 11,434 |
|
| $ | 250,477 |
|
| $ | 222,007 |
|
|
| 12.8 | % |
| $ | 89,778 |
|
| $ | 82,666 |
|
|
| 8.6 | % |
| $ | 160,699 |
|
| $ | 139,341 |
|
|
| 15.3 | % |
| $ | 1,743 |
|
| $ | 1,536 |
|
|
| 13.5 | % |
Dallas, TX |
|
| 9,767 |
|
|
| 190,128 |
|
|
| 166,499 |
|
|
| 14.2 | % |
|
| 77,560 |
|
|
| 74,308 |
|
|
| 4.4 | % |
|
| 112,568 |
|
|
| 92,191 |
|
|
| 22.1 | % |
|
| 1,536 |
|
|
| 1,340 |
|
|
| 14.6 | % |
Tampa, FL |
|
| 5,220 |
|
|
| 127,805 |
|
|
| 109,245 |
|
|
| 17.0 | % |
|
| 41,941 |
|
|
| 37,372 |
|
|
| 12.2 | % |
|
| 85,864 |
|
|
| 71,873 |
|
|
| 19.5 | % |
|
| 1,943 |
|
|
| 1,624 |
|
|
| 19.6 | % |
Orlando, FL |
|
| 5,274 |
|
|
| 120,555 |
|
|
| 102,651 |
|
|
| 17.4 | % |
|
| 41,448 |
|
|
| 37,015 |
|
|
| 12.0 | % |
|
| 79,107 |
|
|
| 65,636 |
|
|
| 20.5 | % |
|
| 1,793 |
|
|
| 1,515 |
|
|
| 18.3 | % |
Charlotte, NC |
|
| 5,867 |
|
|
| 111,887 |
|
|
| 99,145 |
|
|
| 12.9 | % |
|
| 32,710 |
|
|
| 30,733 |
|
|
| 6.4 | % |
|
| 79,177 |
|
|
| 68,412 |
|
|
| 15.7 | % |
|
| 1,490 |
|
|
| 1,307 |
|
|
| 14.1 | % |
Austin, TX |
|
| 6,829 |
|
|
| 134,997 |
|
|
| 117,757 |
|
|
| 14.6 | % |
|
| 58,696 |
|
|
| 53,933 |
|
|
| 8.8 | % |
|
| 76,301 |
|
|
| 63,824 |
|
|
| 19.5 | % |
|
| 1,546 |
|
|
| 1,340 |
|
|
| 15.4 | % |
Raleigh/Durham, NC |
|
| 5,350 |
|
|
| 98,179 |
|
|
| 86,043 |
|
|
| 14.1 | % |
|
| 30,628 |
|
|
| 28,685 |
|
|
| 6.8 | % |
|
| 67,551 |
|
|
| 57,358 |
|
|
| 17.8 | % |
|
| 1,421 |
|
|
| 1,234 |
|
|
| 15.1 | % |
Nashville, TN |
|
| 4,375 |
|
|
| 87,948 |
|
|
| 77,087 |
|
|
| 14.1 | % |
|
| 29,318 |
|
|
| 27,674 |
|
|
| 5.9 | % |
|
| 58,630 |
|
|
| 49,413 |
|
|
| 18.7 | % |
|
| 1,577 |
|
|
| 1,371 |
|
|
| 15.0 | % |
Charleston, SC |
|
| 3,168 |
|
|
| 63,896 |
|
|
| 55,019 |
|
|
| 16.1 | % |
|
| 19,838 |
|
|
| 20,012 |
|
|
| (0.9 | )% |
|
| 44,058 |
|
|
| 35,007 |
|
|
| 25.9 | % |
|
| 1,568 |
|
|
| 1,337 |
|
|
| 17.3 | % |
Houston, TX |
|
| 4,867 |
|
|
| 83,856 |
|
|
| 76,760 |
|
|
| 9.2 | % |
|
| 36,999 |
|
|
| 35,193 |
|
|
| 5.1 | % |
|
| 46,857 |
|
|
| 41,567 |
|
|
| 12.7 | % |
|
| 1,337 |
|
|
| 1,231 |
|
|
| 8.6 | % |
Jacksonville, FL |
|
| 3,496 |
|
|
| 63,883 |
|
|
| 55,456 |
|
|
| 15.2 | % |
|
| 21,385 |
|
|
| 19,048 |
|
|
| 12.3 | % |
|
| 42,498 |
|
|
| 36,408 |
|
|
| 16.7 | % |
|
| 1,462 |
|
|
| 1,245 |
|
|
| 17.5 | % |
Phoenix, AZ |
|
| 2,623 |
|
|
| 55,504 |
|
|
| 47,864 |
|
|
| 16.0 | % |
|
| 13,890 |
|
|
| 12,964 |
|
|
| 7.1 | % |
|
| 41,614 |
|
|
| 34,900 |
|
|
| 19.2 | % |
|
| 1,660 |
|
|
| 1,412 |
|
|
| 17.6 | % |
Fort Worth, TX |
|
| 3,519 |
|
|
| 68,589 |
|
|
| 60,852 |
|
|
| 12.7 | % |
|
| 27,785 |
|
|
| 25,313 |
|
|
| 9.8 | % |
|
| 40,804 |
|
|
| 35,539 |
|
|
| 14.8 | % |
|
| 1,467 |
|
|
| 1,289 |
|
|
| 13.8 | % |
Northern Virginia |
|
| 1,888 |
|
|
| 50,888 |
|
|
| 47,702 |
|
|
| 6.7 | % |
|
| 15,776 |
|
|
| 15,521 |
|
|
| 1.6 | % |
|
| 35,112 |
|
|
| 32,181 |
|
|
| 9.1 | % |
|
| 2,162 |
|
|
| 2,021 |
|
|
| 7.0 | % |
Richmond, VA |
|
| 2,004 |
|
|
| 38,372 |
|
|
| 34,280 |
|
|
| 11.9 | % |
|
| 12,598 |
|
|
| 11,271 |
|
|
| 11.8 | % |
|
| 25,774 |
|
|
| 23,009 |
|
|
| 12.0 | % |
|
| 1,482 |
|
|
| 1,308 |
|
|
| 13.3 | % |
Savannah, GA |
|
| 1,837 |
|
|
| 36,489 |
|
|
| 30,668 |
|
|
| 19.0 | % |
|
| 12,089 |
|
|
| 11,439 |
|
|
| 5.7 | % |
|
| 24,400 |
|
|
| 19,229 |
|
|
| 26.9 | % |
|
| 1,505 |
|
|
| 1,253 |
|
|
| 20.2 | % |
Greenville, SC |
|
| 2,355 |
|
|
| 38,586 |
|
|
| 34,270 |
|
|
| 12.6 | % |
|
| 13,997 |
|
|
| 13,347 |
|
|
| 4.9 | % |
|
| 24,589 |
|
|
| 20,923 |
|
|
| 17.5 | % |
|
| 1,222 |
|
|
| 1,072 |
|
|
| 14.0 | % |
Fredericksburg, VA |
|
| 1,435 |
|
|
| 31,995 |
|
|
| 29,456 |
|
|
| 8.6 | % |
|
| 9,017 |
|
|
| 8,329 |
|
|
| 8.3 | % |
|
| 22,978 |
|
|
| 21,127 |
|
|
| 8.8 | % |
|
| 1,731 |
|
|
| 1,579 |
|
|
| 9.6 | % |
Memphis, TN |
|
| 1,811 |
|
|
| 30,255 |
|
|
| 27,145 |
|
|
| 11.5 | % |
|
| 10,954 |
|
|
| 10,263 |
|
|
| 6.7 | % |
|
| 19,301 |
|
|
| 16,882 |
|
|
| 14.3 | % |
|
| 1,308 |
|
|
| 1,146 |
|
|
| 14.1 | % |
Birmingham, AL |
|
| 1,462 |
|
|
| 25,220 |
|
|
| 22,930 |
|
|
| 10.0 | % |
|
| 9,613 |
|
|
| 9,008 |
|
|
| 6.7 | % |
|
| 15,607 |
|
|
| 13,922 |
|
|
| 12.1 | % |
|
| 1,303 |
|
|
| 1,161 |
|
|
| 12.2 | % |
San Antonio, TX |
|
| 1,504 |
|
|
| 25,237 |
|
|
| 22,673 |
|
|
| 11.3 | % |
|
| 11,002 |
|
|
| 10,213 |
|
|
| 7.7 | % |
|
| 14,235 |
|
|
| 12,460 |
|
|
| 14.2 | % |
|
| 1,317 |
|
|
| 1,167 |
|
|
| 12.9 | % |
Denver, CO |
|
| 812 |
|
|
| 19,322 |
|
|
| 17,394 |
|
|
| 11.1 | % |
|
| 5,468 |
|
|
| 5,180 |
|
|
| 5.6 | % |
|
| 13,854 |
|
|
| 12,214 |
|
|
| 13.4 | % |
|
| 1,859 |
|
|
| 1,687 |
|
|
| 10.2 | % |
Huntsville, AL |
|
| 1,228 |
|
|
| 20,484 |
|
|
| 18,528 |
|
|
| 10.6 | % |
|
| 6,868 |
|
|
| 6,080 |
|
|
| 13.0 | % |
|
| 13,616 |
|
|
| 12,448 |
|
|
| 9.4 | % |
|
| 1,246 |
|
|
| 1,109 |
|
|
| 12.4 | % |
Kansas City, MO-KS |
|
| 1,110 |
|
|
| 20,445 |
|
|
| 18,716 |
|
|
| 9.2 | % |
|
| 7,407 |
|
|
| 6,875 |
|
|
| 7.7 | % |
|
| 13,038 |
|
|
| 11,841 |
|
|
| 10.1 | % |
|
| 1,452 |
|
|
| 1,330 |
|
|
| 9.2 | % |
Other |
|
| 7,078 |
|
|
| 129,712 |
|
|
| 115,087 |
|
|
| 12.7 | % |
|
| 45,249 |
|
|
| 41,220 |
|
|
| 9.8 | % |
|
| 84,463 |
|
|
| 73,867 |
|
|
| 14.3 | % |
|
| 1,381 |
|
|
| 1,205 |
|
|
| 14.6 | % |
Total Same Store |
|
| 96,313 |
|
| $ | 1,924,709 |
|
| $ | 1,695,234 |
|
|
| 13.5 | % |
| $ | 682,014 |
|
| $ | 633,662 |
|
|
| 7.6 | % |
| $ | 1,242,695 |
|
| $ | 1,061,572 |
|
|
| 17.1 | % |
| $ | 1,565 |
|
| $ | 1,365 |
|
|
| 14.6 | % |
Supplemental Data S-7
MULTIFAMILY DEVELOPMENT PIPELINE |
Dollars in thousands
|
|
|
| Units as of |
| Development Costs as of |
|
|
|
|
|
|
|
|
| ||||||||||||||
|
|
|
| December 31, 2022 |
| December 31, 2022 |
|
|
|
| Expected | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| Expected |
| Spend |
| Expected |
|
| Start |
| Initial |
|
|
|
| ||||||
|
| Location |
| Total |
| Delivered |
| Leased |
| Total |
| to Date |
| Remaining |
|
| Date |
| Occupancy |
| Completion |
| Stabilization (1) | ||||||
Novel West Midtown (2) |
| Atlanta, GA |
|
| 340 |
| — |
| — |
|
| 89,500 |
|
| 72,536 |
|
| 16,964 |
|
| 2Q21 |
| 1Q23 |
| 3Q23 |
| 3Q24 | ||
Novel Val Vista (2) |
| Phoenix, AZ |
|
| 317 |
| — |
| — |
|
| 77,200 |
|
| 57,646 |
|
| 19,554 |
|
| 4Q20 |
| 3Q23 |
| 1Q24 |
| 1Q25 | ||
Novel Daybreak (2) |
| Salt Lake City, UT |
|
| 400 |
| — |
| — |
|
| 94,000 |
|
| 74,195 |
|
| 19,805 |
|
| 2Q21 |
| 1Q23 |
| 4Q23 |
| 4Q24 | ||
MAA Milepost 35 |
| Denver, CO |
|
| 352 |
| — |
| — |
|
| 125,000 |
|
| 41,324 |
|
| 83,676 |
|
| 1Q22 |
| 4Q23 |
| 4Q24 |
| 3Q25 | ||
MAA Nixie |
| Raleigh, NC |
|
| 406 |
| — |
| — |
|
| 145,500 |
|
| 13,445 |
|
| 132,055 |
|
| 4Q22 |
| 4Q24 |
| 3Q25 |
| 3Q26 | ||
MAA Breakwater |
| Tampa, FL |
|
| 495 |
| — |
| — |
|
| 197,500 |
|
| 32,553 |
|
| 164,947 |
|
| 4Q22 |
| 1Q25 |
| 4Q25 |
| 4Q26 | ||
Total Active |
|
|
|
| 2,310 |
|
| — |
|
| — |
| $ | 728,700 |
| $ | 291,699 |
| $ | 437,001 |
|
|
|
|
|
|
|
|
|
(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.
MULTIFAMILY LEASE-UP COMMUNITIES |
Dollars in thousands
|
| As of December 31, 2022 |
|
|
|
|
| |||||||||
|
| Location |
| Total Units |
|
| Physical Occupancy |
| Spend to Date |
|
| Construction Completed |
| Expected Stabilization (1) | ||
MAA LoSo |
| Charlotte, NC |
| 344 |
|
| 84.3% |
|
| 139,167 |
|
| (2) |
| 2Q23 | |
MAA Windmill Hill |
| Austin, TX |
| 350 |
|
| 65.1% |
|
| 58,961 |
|
| 4Q22 |
| 4Q23 | |
Total |
|
|
|
| 694 |
|
| 74.6% |
| $ | 198,128 |
|
|
|
|
|
(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
Year ended December 31, 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 | ||||
| 6,574 |
|
| $ | 40,161 |
|
| $ | 6,109 |
|
| $ | 133 |
|
| 10.0% |
| 10,000 - 13,000 |
Supplemental Data S-8
2022 ACQUISITION ACTIVITY |
Multifamily Acquisitions |
| Market |
| Apartment Units |
| Closing Date |
MAA Hampton Preserve II |
| Tampa, FL |
| 196 |
| July 2022 |
MAA LoSo |
| Charlotte, NC |
| 344 |
| September 2022 |
Alta 10th (1) |
| Charlotte, NC |
| 305 |
| December 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 |
MAA Nixie |
| Raleigh, NC |
| 6 |
| November 2022 |
2022 DISPOSITION ACTIVITY |
Multifamily Dispositions |
| Market |
| Apartment Units |
| Closing Date |
MAA Deer Run |
| Fort Worth, TX |
| 304 |
| June 2022 |
MAA Oakbend |
| Fort Worth, TX |
| 426 |
| June 2022 |
Post Park Maryland |
| Maryland, MD |
| 396 |
| October 2022 |
Stassney Woods |
| Austin, TX |
| 288 |
| December 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 DECEMBER 31, 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 |
| $ | 4,394,903 |
|
|
| 99.5 | % |
|
| 3.4 | % |
|
| 8.0 |
|
Floating rate debt |
|
| 20,000 |
|
|
| 0.5 | % |
|
| 4.7 | % |
|
| 0.1 |
|
Total |
| $ | 4,414,903 |
|
|
| 100.0 | % |
|
| 3.4 | % |
|
| 7.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Unsecured Versus Secured Debt |
| Balance |
|
| Percent of Total |
|
| Effective Interest Rate |
|
| Average Years to Contract Maturity |
| ||||
Unsecured debt |
| $ | 4,050,910 |
|
|
| 91.8 | % |
|
| 3.4 | % |
|
| 6.3 |
|
Secured debt |
|
| 363,993 |
|
|
| 8.2 | % |
|
| 4.4 | % |
|
| 25.8 |
|
Total |
| $ | 4,414,903 |
|
|
| 100.0 | % |
|
| 3.4 | % |
|
| 7.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Unencumbered Versus Encumbered Assets |
| Total Cost |
|
| Percent of Total |
|
| Q4 2022 NOI |
|
| Percent of Total |
| ||||
Unencumbered gross assets |
| $ | 14,720,706 |
|
|
| 94.7 | % |
| $ | 330,039 |
|
|
| 95.2 | % |
Encumbered gross assets |
|
| 823,206 |
|
|
| 5.3 | % |
|
| 16,752 |
|
|
| 4.8 | % |
Total |
| $ | 15,543,912 |
|
|
| 100.0 | % |
| $ | 346,791 |
|
|
| 100.0 | % |
FIXED INTEREST RATE MATURITIES
Maturity |
| Fixed Rate Debt |
|
|
| Effective Interest Rate |
| ||
2023 |
| $ | 349,509 |
|
|
|
| 4.2 | % |
2024 |
|
| 398,842 |
|
|
|
| 4.0 | % |
2025 |
|
| 401,751 |
|
|
|
| 4.2 | % |
2026 |
|
| 297,202 |
|
|
|
| 1.2 | % |
2027 |
|
| 596,548 |
|
|
|
| 3.7 | % |
2028 |
|
| 396,695 |
|
|
|
| 4.2 | % |
2029 |
|
| 559,082 |
|
|
|
| 3.7 | % |
2030 |
|
| 297,542 |
|
|
|
| 3.1 | % |
2031 |
|
| 444,985 |
|
|
|
| 1.8 | % |
2032 |
|
| — |
|
|
|
| — |
|
Thereafter |
|
| 652,747 |
|
|
|
| 3.8 | % |
Total |
| $ | 4,394,903 |
|
|
|
| 3.4 | % |
Supplemental Data S-9
DEBT AND DEBT COVENANTS AS OF DECEMBER 31, 2022 (CONTINUED) |
Dollars in thousands
DEBT MATURITIES OF OUTSTANDING BALANCES
Maturity |
| Commercial Paper & Revolving Credit Facility ⁽¹⁾ ⁽²⁾ |
|
| Public Bonds |
|
| Secured |
|
| Total |
| ||||
2023 |
| $ | 20,000 |
|
| $ | 349,509 |
|
| $ | — |
|
| $ | 369,509 |
|
2024 |
|
| — |
|
|
| 398,842 |
|
|
| — |
|
|
| 398,842 |
|
2025 |
|
| — |
|
|
| 397,773 |
|
|
| 3,978 |
|
|
| 401,751 |
|
2026 |
|
| — |
|
|
| 297,202 |
|
|
| — |
|
|
| 297,202 |
|
2027 |
|
| — |
|
|
| 596,548 |
|
|
| — |
|
|
| 596,548 |
|
2028 |
|
| — |
|
|
| 396,695 |
|
|
| — |
|
|
| 396,695 |
|
2029 |
|
| — |
|
|
| 559,082 |
|
|
| — |
|
|
| 559,082 |
|
2030 |
|
| — |
|
|
| 297,542 |
|
|
| — |
|
|
| 297,542 |
|
2031 |
|
| — |
|
|
| 444,985 |
|
|
| — |
|
|
| 444,985 |
|
2032 |
|
| — |
|
|
| — |
|
|
| — |
|
|
| — |
|
Thereafter |
|
| — |
|
|
| 292,732 |
|
|
| 360,015 |
|
|
| 652,747 |
|
Total |
| $ | 20,000 |
|
| $ | 4,030,910 |
|
| $ | 363,993 |
|
| $ | 4,414,903 |
|
DEBT COVENANT ANALYSIS (1)
Bond Covenants |
| Required |
| Actual |
| Compliance |
Total debt to adjusted total assets |
| 60% or less |
| 28.4% |
| 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 |
| 7.2x |
| Yes |
Total unencumbered assets to total unsecured debt |
| Greater than 150% |
| 355.3% |
| Yes |
|
|
|
|
|
|
|
Bank Covenants |
| Required |
| Actual |
| Compliance |
Total debt to total capitalized asset value |
| 60% or less |
| 19.5% |
| Yes |
Total secured debt to total capitalized asset value |
| 40% or Less |
| 1.7% |
| Yes |
Total adjusted EBITDA to fixed charges |
| 1.5x or greater for trailing 4 quarters |
| 7.2x |
| Yes |
Total unsecured debt to total unsecured capitalized asset value |
| 60% or less |
| 18.7% |
| Yes |
(1) The calculations of the Bond Covenants and Bank Covenants are specifically defined in MAALP’s debt agreements.
Supplemental Data S-10
2023 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.
|
|
|
| Full Year 2023 | ||
Earnings: |
|
|
| Range |
| Midpoint |
Earnings per common share - diluted |
|
|
| $5.97 to $6.37 |
| $6.17 |
Core FFO per Share - diluted |
|
|
| $8.88 to $9.28 |
| $9.08 |
Core AFFO per Share - diluted |
|
|
| $7.96 to $8.36 |
| $8.16 |
|
|
|
|
|
|
|
MAA Same Store Portfolio: |
|
|
|
|
|
|
Number of units |
|
|
| 95,285 |
| 95,285 |
Average physical occupancy |
|
|
| 95.6% to 96.0% |
| 95.80% |
Property revenue growth |
|
|
| 5.25% to 7.25% |
| 6.25% |
Effective rent growth |
|
|
| 6.00% to 8.00% |
| 7.00% |
Property operating expense growth |
|
|
| 5.15% to 7.15% |
| 6.15% |
NOI growth |
|
|
| 5.30% to 7.30% |
| 6.30% |
Real estate tax expense growth |
|
|
| 5.50% to 7.00% |
| 6.25% |
|
|
|
|
|
|
|
Corporate Expenses: ($ in millions) |
|
|
|
|
|
|
Property management expenses |
|
|
| $72.0 to $74.0 |
| $73.0 |
General and administrative expenses |
|
|
| $54.5 to $56.5 |
| $55.5 |
Total overhead |
|
|
| $126.5 to $130.5 |
| $128.5 |
|
|
|
|
|
|
|
Transaction/Investment Volume: ($ in millions) |
|
|
|
|
|
|
Multifamily acquisition volume |
|
|
| $350.0 to $450.0 |
| $400.0 |
Multifamily disposition volume |
|
|
| $250.0 to $350.0 |
| $300.0 |
Development investment |
|
|
| $250.0 to $350.0 |
| $300.0 |
|
|
|
|
|
|
|
Debt: |
|
|
|
|
|
|
Average effective interest rate |
|
|
| 3.4% to 3.6% |
| 3.5% |
Capitalized interest ($ in millions) |
|
|
| $12.0 to $14.0 |
| $13.0 |
|
|
|
|
|
|
|
Diluted FFO Shares Outstanding: |
|
|
|
|
|
|
Diluted common shares and units |
|
|
| 119.5 to 120.0 million |
| 119.75 million |
RECONCILIATION OF NET INCOME PER DILUTED COMMON SHARE TO CORE FFO AND CORE AFFO PER SHARE FOR 2023 GUIDANCE |
|
| Full Year 2023 Guidance Range |
| |||||
|
| Low |
|
| High |
| ||
Earnings per common share - diluted |
| $ | 5.97 |
|
| $ | 6.37 |
|
Real estate depreciation and amortization |
|
| 4.72 |
|
|
| 4.72 |
|
Gains on sale of depreciable assets |
|
| (1.82 | ) |
|
| (1.82 | ) |
FFO per Share - diluted |
|
| 8.87 |
|
|
| 9.27 |
|
Non-Core FFO items (1) |
|
| 0.01 |
|
|
| 0.01 |
|
Core FFO per Share - diluted |
|
| 8.88 |
|
|
| 9.28 |
|
Recurring capital expenditures |
|
| (0.92 | ) |
|
| (0.92 | ) |
Core AFFO per Share - diluted |
| $ | 7.96 |
|
| $ | 8.36 |
|
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: |
| Q1 2023 |
|
| Q2 2023 |
|
| Q3 2023 |
|
| Q4 2023 |
|
|
|
| |||||
Earnings release & conference call |
| Late |
|
| Late |
|
| Late |
|
| Early |
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Dividend Information - Common Shares: |
| Q4 2021 |
|
| Q1 2022 |
|
| Q2 2022 |
|
| Q3 2022 |
|
| Q4 2022 |
| |||||
Declaration date |
| 12/7/2021 |
|
| 3/22/2022 |
|
| 5/17/2022 |
|
| 9/27/2022 |
|
| 12/13/2022 |
| |||||
Record date |
| 1/14/2022 |
|
| 4/14/2022 |
|
| 7/15/2022 |
|
| 10/14/2022 |
|
| 1/13/2023 |
| |||||
Payment date |
| 1/31/2022 |
|
| 4/29/2022 |
|
| 7/29/2022 |
|
| 10/31/2022 |
|
| 1/31/2023 |
| |||||
Distributions per share |
| $ | 1.0875 |
|
| $ | 1.0875 |
|
| $ | 1.2500 |
|
| $ | 1.2500 |
|
| $ | 1.4000 |
|
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