{ "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": 26, "pageCount": 37, "prevPage": 25, "nextPage": 27, "slideType": "kpi_overview", "function": "analyze_data", "density": "overcrowded", "nDataPoints": 50, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de518-55a1-7279-84a4-f9ca05edc6f0/26", "deckHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0", "deckJsonHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0.json", "deckAnchorHref": "/decks/019de518-55a1-7279-84a4-f9ca05edc6f0#slide-26", "components": [ { "bbox": { "h": 0.2, "w": 0.73, "x": 0.16, "y": 0.56 }, "kind": "chart", "text": "DEBT MATURITY PROFILE ($ IN MILLIONS) AT 12/31/2023\n$495.0\n$399.7\n$398.5\n$298.0\n$597.3\n$397.3\n$557.7\n$297.9\n$445.6\n$653.1\n2024\n2025\n2026\n2027\n2028\n2029\n2030\n2031\n2032\n2033\n2034+", "attrs": {}, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "daf50132-588c-4395-9212-683b2e4ee094", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.17, "x": 0.43, "y": 0.86 }, "kind": "metric", "text": "89.1% Total Debt is Fixed Rate", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf52dca0-ece2-4895-9e64-c1d216cb118d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.22, "x": 0.16, "y": 0.85 }, "kind": "metric", "text": "TOTAL DEBT\nAVG INTEREST RATE\n3.6%", "attrs": {}, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c26d78be-c7c0-448a-b35b-84bbc270d2a2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.52, "x": 0.1, "y": 0.91 }, "kind": "source-note", "text": "1 Debt excluding unsecured revolving credit facility and unsecured commercial paper program.\n2 Partially refinanced with $350M bond issued January 2024.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4e2bd422-c672-4442-a21e-24ecde990e61", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.77, "x": 0.1, "y": 0.46 }, "kind": "source-note", "text": "1 MAA calculations as specifically defined in Mid-America Apartments, L.P.'s debt agreements.\n2 Sector average represents publicly disclosed sector equivalent.\n3 Sector constituents include AVB, CPT, EQR, ESS and UDR; data is from 4Q 2023 company filings.\n4 Adjusted EBITDAre in this calculation represents the trailing twelve-month period ended December 31, 2023. A reconciliation of the following items and an expanded discussion of their respective components\ncan be found in the accompanying Appendix: (i) EBITDA, EBITDAre and Adjusted EBITDAre to Net income; and (ii) Net Debt to Unsecured notes payable and Secured notes payable.\n5 Core FFO Payout Ratio is defined here as dividends paid in 2023 through 12/31/2023 divided by full year 2023 Core FFO/Share per 4Q 2023 and full year 2023 company filings.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "76c61554-b612-4806-acd3-36815b203fce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.8, "x": 0.1, "y": 0.73 }, "kind": "table", "text": "TOTAL DEBT\nMATURING\n19.7%\n8.8%\n6.6%\n13.2%\n8.7%\n12.3%\n6.6%\n9.8%\n0.0%\n0.0%\n14.3%\nFIXED RATE DEBT\nINTEREST RATE\n4.0%\n4.2%\n1.2%\n3.7%\n4.2%\n3.7%\n3.1%\n1.8%\n0.0%\n0.0%\n3.8%", "attrs": {}, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "52ce70d5-fec9-4a88-a434-23376f9b2b90", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.26, "w": 0.7999999999999999, "x": 0.1, "y": 0.19 }, "kind": "table", "text": "CREDIT METRICS AT 12/31/2023\nMAA\nSECTOR AVG2,3\nTotal debt / adjusted total assets¹\n27.8%\n30.0%\nTotal secured debt / adjusted total assets¹\n2.2%\n4.7%\nUnencumbered NOI / total NOI\n95.9%\n91.4%\nNet Debt / Adjusted EBITDAre4\n3.6x\n4.7x\nConsolidated income available for debt service to total annual debt service charge¹\n7.8x\n6.1x\nWeighted average maturity of debt (in years)\n6.8\n6.8\nCore FFO Payout Ratio5\n61.1%\n64.1%", "attrs": {}, "subkind": "kpi", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2b044209-1791-4306-b1f7-696f258815fd", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "49954db3-b7fe-493a-aa36-40b86563d075", "evidence": "The slide contains a table with credit metrics and debt maturity profiles.", "confidence": 0.9 } ], "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 }