MAA is a self-administered and self-managed real estate investment trust that owns and operates apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions. The company owns a diversified portfolio of Class A and Class B multifamily rental properties across multiple states, featuring garden-style, mid-rise and high-rise communities, with many enhanced by smart home technology and digital resident engagement tools. MAA generates revenue primarily through rental income from its apartment units and ancillary services, pursuing growth through acquisitions of stabilized communities, internal development projects, and selective property redevelopment, while maintaining a capital structure with target debt levels of 30–36% of adjusted total assets and distributing at least 90% of taxable income annually to shareholders as required by REIT regulations.