|  | | | Corporate Profile![]() | 
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Fourth Quarter 2009 Earnings Conference CallFriday, February 5, 2010, 9:15 AM CT/10:15 AM ET
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Mid-America Apartment Communities, Inc. (the "Company") is a real estate investment trust that owns and manages apartments in the sunbelt region of the United States. The Company has grown from 5,580 apartments at the time of its initial public offering in January 1994 to 42,687 apartments today. The Company is traded on the NYSE under the symbol MAA, and is headquartered at 6584 Poplar Avenue, Memphis, TN 38138.
The Company has expanded in the past through acquisition and development, and is currently expanding through select acquisitions mainly in larger cities within its existing market area. The Company actively seeks opportunities to acquire properties that can benefit from its extensive redevelopment and management expertise, and invests to improve the internal growth prospects of its existing portfolio.
The Company has generated investor returns greater than most other apartment REITs through its well-defined strategy:- Mid-America aims to provide investors with a reliable dividend income that, over the long run, will consistently grow and be protected against an economic downturn.
- Additionally, the company is very focused on growing the intrinsic value per share of its common stock through maximizing the quality and earnings of existing properties as well as selectively selling properties and re-investing the proceeds.
- The Company spreads its investments in large, medium and small markets. Since these market types have different demand and supply characteristics at different phases of the apartment cycle, Mid-America's cash flows tend to be more stable than many REITs.
- Mid-America also spreads its investments through multiple markets within its area of concentration in order to provide greater investment safety.
- The Company is known for its hands-on management style whereby its senior managers stay in close touch with its properties through frequent visits to properties and through a detailed web-based reporting system.
- The Company maintains its properties in superior condition through all phases of the apartment cycle, and receives numerous awards for the quality of its properties and management.
- Mid-America focuses on high-quality garden style apartment communities designed to meet the housing preferences of the largest segment of the rental market.
The Company's Board of Directors is highly regarded and insiders own 2% of the business.
The links on our investor page will take you to detailed information about Mid-America and provide current news and data related to the Company. We hope you find the information helpful and we appreciate your interest.
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