Using the PEG framework with analyst consensus forward EPS growth of 8.1% plus 4.9% dividend yield, Mid-America Apartment Communities, Inc. has a fair value of $27.26 based on NTM EPS (FY2026) of $3.36. The current PEG ratio is 4.50.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
PEG tends to undervalue slow growers — consider dividend yield and asset value instead.
| EPS Growth RateForward | 3.2% |
| Dividend Yield | +4.9% |
| Adjusted Growth (clamped 8–25%) | 8.1% |
| Fair P/E | 8.1x |
| NTM EPS (FY2026) | $3.36 |
| Fair Value | $27.26 |
| Period | EPS Est. | Growth | Analysts |
|---|---|---|---|
| FY2025 (actual) | $3.78 | — | — |
| FY2026E | $3.36 | -11.0% | 12 |
| FY2027E | $3.35 | -0.5% | 13 |
| FY2028E | $4.06 | +21.3% | 4 |
| FY2029E | $4.28 | +5.4% | 3 |
4Y Forward EPS CAGR: 3.2%
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2021 | $533.8M | $4.61 | — |
| FY2022 | $637.4M | $5.48 | +18.9% |
| FY2023 | $552.8M | $4.71 | -14.1% |
| FY2024 | $527.5M | $4.49 | -4.7% |
| FY2025 | $446.9M | $3.78 | -15.8% |
4Y Historical EPS CAGR: -4.8%
The PEG Fair Value uses the Price/Earnings-to-Growth framework. A stock is fairly valued when its P/E ratio equals its earnings growth rate (PEG = 1.0). This model adds dividend yield to the growth rate per the original PEGY formula.
Growth rate priority: analyst consensus forward EPS CAGR (when ≥ 3 analysts cover the stock), falling back to historical EPS CAGR. Using EPS rather than net income avoids distortion from share buybacks. The growth rate is clamped between 8% and 25% — below 8% would undervalue stable earners, while above 25% would overvalue unsustainable spikes.