{
  "docId": "019de515-f9e3-70c0-b0bb-ea4a0335a462",
  "docSlug": "ef9db7e8e9e6e56f598523ab4c763cdb",
  "documentTitle": "Mid-America Apartment Communities | Investor Conference Presentation Deck | 36 slides",
  "authorId": "mid-america-apartment-communities",
  "authorName": "MAA",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 15,
  "pageCount": 36,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "kpi_overview",
  "function": "quantify_opportunity",
  "density": "overcrowded",
  "nDataPoints": 30,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de515-f9e3-70c0-b0bb-ea4a0335a462/15",
  "deckHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462",
  "deckJsonHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462.json",
  "deckAnchorHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462#slide-15",
  "components": [
    {
      "bbox": {
        "h": 0.056,
        "w": 0.219,
        "x": 0.609,
        "y": 0.212
      },
      "kind": "callout",
      "text": "Midpoint represents approximately 7.2% increase over 2022",
      "attrs": {},
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "939eb6cb-3f98-498f-a976-9d77547099a1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.24,
        "w": 0.02,
        "x": 0.13,
        "y": 0.24
      },
      "kind": "list",
      "text": "EXPECTED CORE FFO/SHARE1",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6685ad58-1e35-49ee-bbc0-061fe32f062c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.36,
        "x": 0.517,
        "y": 0.52
      },
      "kind": "list",
      "text": "MULTIFAMILY TRANSACTIONS4/FINANCING",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6e5da8ba-ba75-4577-8c6e-64e66546403c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.36,
        "x": 0.113,
        "y": 0.52
      },
      "kind": "list",
      "text": "CAPITAL SPEND INITIATIVES4",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dc84c315-e417-4b82-9f29-a31e763f8f17",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.68,
        "x": 0.113,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "1 In this context, per Share means per diluted common share and unit.\n2 Net income per diluted common share is expected to be in the range of $6.05 to $6.41 per diluted common share ($6.23 at the midpoint) for the full year 2023.\n3 MAA does not forecast quarterly Net income per diluted common share as MAA cannot predict forecasted transaction timing within a particular quarter (rather than during the year).\n4 Expectations for the full year 2023",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6167ba4a-f4f9-49b2-a493-d5a45cc6c3d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.26,
        "w": 0.35,
        "x": 0.209,
        "y": 0.23
      },
      "kind": "table",
      "text": "Full Year 20232 [$8.93 ... $9.11 ... $9.29]\nQ2 20233 [$2.18 ... $2.26 ... $2.34]\nTotal Overhead Corporate Property Management + G&A [$126.5M ... $128.5M ... $130.5M]\nIncome Tax [$4.0M ... $4.5M ... $5.0M]",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "36154278-0ba3-4502-9f9d-fc33b9328311",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.26,
        "w": 0.37,
        "x": 0.517,
        "y": 0.57
      },
      "kind": "table",
      "text": "Acquisitions [$350M ... $400M ... $450M]\nDispositions [$250M ... $300M ... $350M]\nDevelopment Funding Wholly-owned and pre-purchase JV deals [$250M ... $300M ... $350M]\nDebt Issuance No new debt issuance expected in 2023",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9c8d794d-f1c3-4014-8b6e-6ca3f02556d9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.26,
        "w": 0.44,
        "x": 0.113,
        "y": 0.57
      },
      "kind": "table",
      "text": "Kitchen & Bath Redevelopment 6K to 7K units in 2023 [$45M ... $50M ... $55M]\nRepositioning Program 5 new properties underway for 2023; continuation of projects started in 2022 [$16M ... $18M ... $20M]\nSmart Home Investment Final wave of 23K to 24K units to be installed in 2023 [$42M ... $46M ... $50M]",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c97295be-04c7-4150-b6ac-28c7cde71709",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.023,
        "w": 0.56,
        "x": 0.101,
        "y": 0.104
      },
      "kind": "title",
      "text": "2023 Core FFO and Investment Outlook",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d0f96374-a3cb-440e-8f71-9347e038b651",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "826877d7-06f0-498c-ac6c-d58f3ca39a38",
      "evidence": "table/data: Full Year 20232 [$8.93 ... $9.11 ... $9.29]\nQ2 20233 [$2.18 ... $2.26 ... $2.34]",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 20,
      "from": 11,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c39e147e-55c3-4815-bdaa-67186620ee03",
      "evidence": "The presentation discusses MAA's development program, unit interior upgrades, and repositioning of select properties.",
      "position": 0,
      "objective": "To show how MAA is uniquely positioned to handle pockets of supply pressure",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}