Subtext

Mid-America Apartment Communities, Inc. MAA

SectorReal Estate
Transcripts37
Date range2016-05-08 – 2025-05-01
Calls charted37

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-17-8+0+8+172016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Overall: +13.22016 Q2 · Overall: +8.82016 Q3 · Overall: +12.82016 Q4 · Overall: +7.82017 Q1 · Overall: +13.52017 Q2 · Overall: +14.52017 Q3 · Overall: +14.12017 Q4 · Overall: +8.02018 Q1 · Overall: +11.72018 Q2 · Overall: +13.82018 Q3 · Overall: +9.02018 Q4 · Overall: +8.62019 Q1 · Overall: +11.72019 Q2 · Overall: +9.12019 Q3 · Overall: +12.12019 Q4 · Overall: +10.32020 Q1 · Overall: +0.82020 Q2 · Overall: +5.62020 Q3 · Overall: +5.82020 Q4 · Overall: +8.72021 Q1 · Overall: +6.32021 Q2 · Overall: +12.42021 Q3 · Overall: +5.92021 Q4 · Overall: +7.42022 Q1 · Overall: +4.22022 Q2 · Overall: +2.82022 Q3 · Overall: +4.92022 Q4 · Overall: +6.32023 Q1 · Overall: +4.32023 Q2 · Overall: +8.72023 Q3 · Overall: +5.72023 Q4 · Overall: +7.42024 Q1 · Overall: -2.72024 Q2 · Overall: +8.32024 Q3 · Overall: +7.02024 Q4 · Overall: +7.42025 Q1 · Overall: +7.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-26-13+0+13+262016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · CEO: +18.32016 Q2 · CEO: +11.92016 Q3 · CEO: +20.12016 Q4 · CEO: +11.12017 Q1 · CEO: +20.42017 Q2 · CEO: +22.52017 Q3 · CEO: +18.82017 Q4 · CEO: +10.62018 Q1 · CEO: +14.62018 Q2 · CEO: +21.52018 Q3 · CEO: +14.12018 Q4 · CEO: +16.82019 Q1 · CEO: +16.62019 Q2 · CEO: +8.72019 Q3 · CEO: +14.42019 Q4 · CEO: +17.12020 Q1 · CEO: -1.52020 Q2 · CEO: +7.12020 Q3 · CEO: +15.82020 Q4 · CEO: +11.12021 Q1 · CEO: +9.62021 Q2 · CEO: +14.02021 Q3 · CEO: +9.02016 Q1 · CFO: +9.62016 Q2 · CFO: +13.02016 Q3 · CFO: +6.82016 Q4 · CFO: +4.62017 Q1 · CFO: +12.82017 Q2 · CFO: +14.22017 Q3 · CFO: +9.72017 Q4 · CFO: +6.82018 Q1 · CFO: +10.82018 Q2 · CFO: +18.32018 Q3 · CFO: +3.32018 Q4 · CFO: +3.22019 Q1 · CFO: +8.42019 Q3 · CFO: +15.02019 Q4 · CFO: +6.52020 Q1 · CFO: +1.42020 Q3 · CFO: +13.62020 Q4 · CFO: +7.62021 Q1 · CFO: +11.12021 Q2 · CFO: +10.12021 Q3 · CFO: +4.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-60-30+0+30+602016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Prepared remarks: +22.52016 Q2 · Prepared remarks: +21.12016 Q3 · Prepared remarks: +21.22016 Q4 · Prepared remarks: +17.82017 Q1 · Prepared remarks: +23.32017 Q2 · Prepared remarks: +23.82017 Q3 · Prepared remarks: +15.42017 Q4 · Prepared remarks: +19.52018 Q1 · Prepared remarks: +21.82018 Q2 · Prepared remarks: +26.82018 Q3 · Prepared remarks: +19.22018 Q4 · Prepared remarks: +18.62019 Q1 · Prepared remarks: +27.22019 Q2 · Prepared remarks: +24.22019 Q3 · Prepared remarks: +21.02019 Q4 · Prepared remarks: +25.82020 Q1 · Prepared remarks: +6.82020 Q2 · Prepared remarks: +9.42020 Q3 · Prepared remarks: +52.52020 Q4 · Prepared remarks: +29.42021 Q1 · Prepared remarks: +19.62021 Q2 · Prepared remarks: +19.32021 Q3 · Prepared remarks: +26.42021 Q4 · Prepared remarks: +21.62022 Q1 · Prepared remarks: +21.42022 Q2 · Prepared remarks: +15.02022 Q3 · Prepared remarks: +13.22022 Q4 · Prepared remarks: +17.92023 Q1 · Prepared remarks: +11.22023 Q2 · Prepared remarks: +18.62023 Q3 · Prepared remarks: +15.12023 Q4 · Prepared remarks: +16.42024 Q1 · Prepared remarks: +11.52024 Q2 · Prepared remarks: +23.52024 Q3 · Prepared remarks: +15.32024 Q4 · Prepared remarks: +7.52025 Q1 · Prepared remarks: +23.32016 Q1 · Q&A responses: +13.12016 Q2 · Q&A responses: +6.92016 Q3 · Q&A responses: +13.02016 Q4 · Q&A responses: +7.32017 Q1 · Q&A responses: +14.22017 Q2 · Q&A responses: +18.12017 Q3 · Q&A responses: +7.42017 Q4 · Q&A responses: +4.92018 Q1 · Q&A responses: +7.92018 Q2 · Q&A responses: +7.02018 Q3 · Q&A responses: +6.82018 Q4 · Q&A responses: +8.02019 Q1 · Q&A responses: +10.02019 Q2 · Q&A responses: +5.12019 Q3 · Q&A responses: +13.32019 Q4 · Q&A responses: +5.62020 Q1 · Q&A responses: -0.22020 Q2 · Q&A responses: +6.52020 Q3 · Q&A responses: +7.32020 Q4 · Q&A responses: +7.62021 Q1 · Q&A responses: +6.42021 Q2 · Q&A responses: +12.82021 Q3 · Q&A responses: +5.12021 Q4 · Q&A responses: +3.62022 Q1 · Q&A responses: +3.82022 Q2 · Q&A responses: +3.42022 Q3 · Q&A responses: +4.82022 Q4 · Q&A responses: +3.52023 Q1 · Q&A responses: +3.42023 Q2 · Q&A responses: +5.32023 Q3 · Q&A responses: +5.22023 Q4 · Q&A responses: +6.62024 Q1 · Q&A responses: -2.12024 Q2 · Q&A responses: +4.12024 Q3 · Q&A responses: +6.82025 Q1 · Q&A responses: +7.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.45$3.27$5.092016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: $2.652016 Q2: $2.732016 Q3: $2.682016 Q4: $2.342017 Q1: $2.232017 Q2: $1.702017 Q3: $2.012017 Q4: $2.142018 Q1: $1.952018 Q2: $2.062018 Q3: $2.142018 Q4: $2.032019 Q1: $2.142019 Q2: $2.212019 Q3: $2.352019 Q4: $2.452020 Q1: $2.522020 Q2: $2.042020 Q3: $2.082020 Q4: $2.172021 Q1: $2.422021 Q2: $2.342021 Q3: $2.982021 Q4: $3.302022 Q1: $3.732022 Q2: $4.122022 Q3: $4.592022 Q4: $4.552023 Q1: $4.842023 Q2: $4.602023 Q3: $4.672023 Q4: $4.302024 Q1: $4.312024 Q2: $4.282024 Q3: $4.17

Forward P/E

25.7450.8675.972016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: 37.502016 Q2: 37.062016 Q3: 34.662016 Q4: 40.472017 Q1: 45.352017 Q2: 64.052017 Q3: 52.802017 Q4: 47.932018 Q1: 46.412018 Q2: 46.602018 Q3: 47.622018 Q4: 48.302019 Q1: 50.212019 Q2: 53.812019 Q3: 55.062019 Q4: 52.602020 Q1: 39.802020 Q2: 58.302020 Q3: 56.692020 Q4: 56.872021 Q1: 60.052021 Q2: 72.512021 Q3: 64.142021 Q4: 67.332022 Q1: 55.722022 Q2: 39.472022 Q3: 36.542022 Q4: 36.152023 Q1: 31.182023 Q2: 33.352023 Q3: 29.202023 Q4: 31.072024 Q1: 30.602024 Q2: 33.042024 Q3: 39.26

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2016 Q2 tone ↓ -4.3 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↑ +4.0 fwd EPS ↓ -0.05 Tone rose while the forward EPS estimate was cut.
  • 2017 Q1 tone ↑ +5.8 fwd EPS ↓ -0.11 Tone rose while the forward EPS estimate was cut.
  • 2017 Q4 tone ↓ -6.1 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↑ +3.7 fwd EPS ↓ -0.19 Tone rose while the forward EPS estimate was cut.
  • 2018 Q3 tone ↓ -4.8 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -2.6 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -9.6 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +4.8 fwd EPS ↓ -0.48 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -2.4 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↑ +6.1 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -6.4 fwd EPS ↑ +0.64 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -3.2 fwd EPS ↑ +0.43 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↓ -2.0 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↑ +4.4 fwd EPS ↓ -0.24 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -3.0 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+7.7——View →
2024 Q42025-02-06+7.4——View →
2024 Q32024-10-31+7.0$4.1739.3View →
2024 Q22024-08-01+8.3$4.2833.0View →
2024 Q12024-05-02-2.7$4.3130.6View →
2023 Q42024-02-08+7.4$4.3031.1View →
2023 Q32023-10-26+5.7$4.6729.2View →
2023 Q22023-07-27+8.7$4.6033.4View →