MAA-I Mid America Apartment Communities Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 16, 2024

 

MID-AMERICA APARTMENT COMMUNITIES, INC.

(Exact name of registrant as specified in its charter)

 

Tennessee	001-12762	62-1543819
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

 

MID-AMERICA APARTMENTS, L.P.

(Exact name of registrant as specified in its charter)

 

Tennessee	333-190028-01	62-1543816
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

6815 Poplar Avenue, Suite 500
Germantown, Tennessee	38138
(Address of Principal Executive Offices)	(Zip Code)

 

(901) 682-6600

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.)	MAA	New York Stock Exchange
8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share (Mid-America Apartment Communities, Inc.)	MAA*I	New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

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ITEM 7.01 Regulation FD Disclosure.

 

On January 16, 2024, the registrant issued a press release announcing the taxable composition of its 2023 distributions paid to shareholders. A copy of the press release is furnished as Exhibit 99.1 to this Current Report.

Exhibit 99.1, furnished by the Registrant pursuant to Item 9.01 of Form 8-K, is not to be considered "filed" under the Exchange Act, and shall not be incorporated by reference into any previous or future filing by the Registrant under the Securities Act or the Exchange Act.

 

ITEM 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number		Description
99.1		Press Release dated January 16, 2024: “MAA Announces Taxable Composition of 2023 Distribution”
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

			MID-AMERICA APARTMENT COMMUNITIES, INC.
Date:	January 16, 2024		/s/Albert M. Campbell, III
			Albert M. Campbell, III
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

 

			MID-AMERICA APARTMENTS, L.P.
			By: Mid-America Apartment Communities, Inc., its general partner
Date:	January 16, 2024		/s/Albert M. Campbell, III
			Albert M. Campbell, III
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

 

 

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Exhibit 99.1

 

 

PRESS RELEASE

 

 

MAA Announces Taxable Composition of 2023 Distributions

Germantown, TN, January 16, 2024. Mid-America Apartment Communities, Inc. or MAA (NYSE: MAA) today announced the taxable composition of the 2023 distributions paid to shareholders. The company does not expect any portion of the 2023 distributions paid to shareholders to represent a return of capital. The company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2023. The classifications for 2023 are as follows:

 

Common Stock (MAA) (CUSIP 59522J103)

 

Record Date	Pay Date	Cash Distributions Per Share	Ordinary Taxable Distribution	Long Term Capital Gain	Unrecaptured Sec. 1250 Gain	Section 199A	Section 897 Capital Gain
1/13/2023	1/31/2023	$1.4000	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
4/14/2023	4/28/2023	$1.4000	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
7/14/2023	7/31/2023	$1.4000	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
10/13/2023	10/31/2023	$1.4000	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%

 

8.5% Series I Cumulative Redeemable Preferred Stock (MAA/PI) (CUSIP 59522J889)

 

Record Date	Pay Date	Cash Distributions Per Share	Ordinary Taxable Distribution	Long Term Capital Gain	Unrecaptured Sec. 1250 Gain	Section 199A	Section 897 Capital Gain
3/15/2023	3/31/2023	$1.06250	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
6/15/2023	6/30/2023	$1.06250	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
9/15/2023	10/2/2023	$1.06250	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%
12/15/2023	1/2/2024	$1.06250	100.0000%	0.0000%	0.0000%	100.0000%	0.0000%

 

This release is based on the preliminary work the company has performed on its tax filings and is subject to correction or adjustment based on the completion of those filings. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of these MAA distributions. The company is releasing information at this time to aid those required to distribute Forms 1099 on the company’s dividends. No material change in the taxable composition is expected.

 

About MAA

 

MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please refer to www.maac.com or contact Investor Relations at investor.relations@maac.com.

 

Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, with respect to our expectations for future periods. Such statements include those made about the expectation that the company will have no material change in taxable composition

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Exhibit 99.1

of its 2023 distributions. The expectation is based on preliminary work the company has performed on its year-end filings and on information currently available. Unknown risks, uncertainties and other factors may cause actual results, performance or achievements of the company to differ materially from those on which these calculations were based. Reference is hereby made to the filings of Mid-America Apartment Communities, Inc. with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual report on Form 10-K, particularly including the risk factors contained in the latter filing.

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v3.23.4

Document And Entity Information	Jan. 16, 2024
Document And Entity Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 16, 2024
Entity Registrant Name	MID-AMERICA APARTMENT COMMUNITIES, INC.
Entity Central Index Key	0000912595
Entity Emerging Growth Company	false
Entity File Number	001-12762
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1543819
Entity Address, Address Line One	6815 Poplar Avenue
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Germantown
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38138
City Area Code	901
Local Phone Number	682-6600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Common Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol(s)	MAA
Security Exchange Name	NYSE
Cumulative Preferred Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share
Trading Symbol(s)	MAAI
Security Exchange Name	NYSE
Limited Partner [Member]
Document And Entity Information [Line Items]
Entity Registrant Name	MID-AMERICA APARTMENTS, L.P.
Entity File Number	333-190028-01
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1543816

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