{
  "docId": "019de518-55a1-7279-84a4-f9ca05edc6f0",
  "docSlug": "d4ca2f7a14a60c1cfe2ad9a454c7b3bc",
  "documentTitle": "Mid-America Apartment Communities | Results Presentation Deck | 37 slides",
  "authorId": "mid-america-apartment-communities",
  "authorName": "MAA",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 25,
  "pageCount": 37,
  "prevPage": 24,
  "nextPage": 26,
  "slideType": "kpi_overview",
  "function": "frame_situation",
  "density": "overcrowded",
  "nDataPoints": 16,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de518-55a1-7279-84a4-f9ca05edc6f0/25",
  "deckHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0",
  "deckJsonHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0.json",
  "deckAnchorHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0#slide-25",
  "components": [
    {
      "bbox": {
        "h": 0.419,
        "w": 0.402,
        "x": 0.082,
        "y": 0.26
      },
      "kind": "chart",
      "text": "Common Equity 77.9%, Unsecured Debt 20.2%, Secured Debt 1.7%, Preferred Stock 0.2%",
      "attrs": {},
      "subkind": "pie",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "636e8468-cd93-46ba-a22b-f22ab167870e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.359,
        "x": 0.543,
        "y": 0.78
      },
      "kind": "list",
      "text": "89% fixed debt to protect against higher interest rates1",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "306dbb7a-eaba-40b7-8555-84cd96d0c367",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.359,
        "x": 0.543,
        "y": 0.594
      },
      "kind": "list",
      "text": "Well-laddered debt with one maturity in June 2024",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d61f21d5-dad9-4f69-9ac4-c3702e0a288b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.069,
        "w": 0.359,
        "x": 0.543,
        "y": 0.65
      },
      "kind": "list",
      "text": "$791.8M of combined cash and available capacity under MAALP's unsecured revolving credit facility; supports increasing development pipeline and acquisition opportunities1",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fa8c7b05-b8cc-472d-99be-01670056219c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.08,
        "x": 0.426,
        "y": 0.354
      },
      "kind": "metric",
      "text": "$4.58B Total Debt + Preferred",
      "attrs": {},
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6c917f53-95ac-4be2-9263-e0cf9dfa6944",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.09,
        "x": 0.087,
        "y": 0.354
      },
      "kind": "metric",
      "text": "$16.11B Common Equity",
      "attrs": {},
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a3bdceb1-2f24-499b-a992-1e51dd0ae016",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.349,
        "x": 0.117,
        "y": 0.763
      },
      "kind": "paragraph",
      "text": "DEBT + PREFERRED/TOTAL CAPITALIZATION: 22.1%",
      "attrs": {},
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "884e1304-8110-449c-96a8-871749dc8282",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.149,
        "x": 0.082,
        "y": 0.223
      },
      "kind": "source-note",
      "text": "AT 12/31/2023",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1da15b36-d616-4c26-b22c-42ec634cda73",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.054,
        "w": 0.42,
        "x": 0.094,
        "y": 0.82
      },
      "kind": "source-note",
      "text": "Note: Total Capitalization is defined here as common shares and units outstanding multiplied by the closing stock price on 12/31/2023, plus total debt outstanding at 12/31/2023, plus Preferred stock ($50 redeemable stock price multiplied by total shares outstanding).",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7850b294-640e-469d-a37f-dfdabe6e983e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.027,
        "w": 0.359,
        "x": 0.543,
        "y": 0.493
      },
      "kind": "source-note",
      "text": "1 Corporate credit rating assigned to MAA and MAALP (the operating partnership of MAA) 2 Corporate credit rating assigned to MAALP",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9fe07e49-0c30-47c5-94ee-dbabd09b9760",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.01,
        "w": 0.11,
        "x": 0.543,
        "y": 0.84
      },
      "kind": "source-note",
      "text": "1 As of 12/31/2023.",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f222dd6b-2edf-4af2-a6a4-eaaa6b4df025",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.336,
        "x": 0.564,
        "y": 0.247
      },
      "kind": "subtitle",
      "text": "One of Eight Public REITs to be A- Rated or Above",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b76f1ca1-a398-40c3-8c18-3f369eb32b69",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.19,
        "w": 0.36,
        "x": 0.543,
        "y": 0.322
      },
      "kind": "table",
      "text": "CREDIT RATINGS SHORT TERM LONG TERM OUTLOOK Standard & Poor's Ratings Services1 A-2 A- STABLE Moody's Investors Service2 P-2 A3 STABLE Fitch Ratings1 F1 A- STABLE",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b54fca47-1b34-4b6f-b5b8-d2d20498ae7c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.026,
        "w": 0.54,
        "x": 0.101,
        "y": 0.104
      },
      "kind": "title",
      "text": "Strong, Investment-Grade Balance Sheet",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "03964f66-797a-40f6-b270-8eb4b541fa80",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "2x2 matrix",
      "slug": "matrix-2x2",
      "agent": null,
      "layer": "slide",
      "matchId": "26bc5fad-5f10-447e-9e38-b51a2c473ed2",
      "evidence": "The slide does not explicitly show a 2x2 matrix but lists various financial metrics that could be part of a 2x2 matrix.",
      "confidence": 0.7
    },
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "2ae04e3e-88d1-4224-8035-4277f49293ab",
      "evidence": "The components mention a 'chart/pie' showing a breakdown of Common Equity, Unsecured Debt, Secured Debt, and Preferred Stock, which could be related to a waterfall chart.",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 28,
      "from": 25,
      "beatId": "74f45834-0457-4624-8aab-d2263ec42937",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Team",
      "beatSlug": "sequoia-pitch-team",
      "evidence": "Slides 25-28 highlight MAA's strong balance sheet and sustainability commitment",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}