ARE vs BDN vs MAA Stock Comparison

Alexandria Real Estate Equities, Brandywine Realty Trust and Mid America Apartment Communities Prices as of Oct 27, 2026 Peers: Industry group
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BDN Brandywine Realty Trust
$2.90 +1.0% 1M -19.9% 1Y
Market cap
$508.33M
P/E
–
Revenue (TTM)
$498.29M
Div. yield
–
Office REITs Real Estate
3 wins

Head to Head

11 decided of 12

Mid America Apartment Communities leads on 6 of the 12 questions below (Mid America Apartment Communities 6, Brandywine Realty Trust 3, Alexandria Real Estate Equities 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAREBDNMAALeader
Larger companyMarket capitalisation $6.70B $508.33M $13.64B MAA
Cheaper on earningsLower P/E, profitable companies only -4.7x -3.5x 34.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 26.2x — 33.3x ARE
Faster revenue growthRevenue growth, trailing twelve months -9.9% +0.5% +0.8% MAA
More profitableNet margin, trailing twelve months -52.0% -28.8% 18.0% MAA
Better return on capitalReturn on invested capital — 7.3% 5.3% BDN
Less leveragedLower net debt / EBITDA — 1.0x 4.5x BDN
Higher dividend yieldTrailing dividend yield 0.09% 0.00% 0.05% ARE
Better 1-year returnPrice return, last 12 months -47.5% -19.9% -10.7% MAA
Better 5-year returnAnnualised price return, 5 years -27.6%/yr -26.3%/yr -10.5%/yr MAA
Less volatileAnnualised volatility, 1 year 50.3% 35.8% 19.8% MAA
Higher overall scoreMean of the five percentile scores vs peers 39/100 58/100 51/100 BDN

Percentile Scorecard

AREBDNMAA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAREBDNMAA
Valuation 74 #38 of 145 95 #8 of 145 45 #80 of 145
Growth 7 #131 of 141 19 #114 of 141 15 #120 of 141
Profitability 14 #115 of 134 26 #100 of 134 87 #18 of 134
Financial Health 72 #39 of 138 58 #59 of 138 60 #56 of 138
Shareholder Returns 29 #94 of 131 93 #10 of 131 46 #71 of 131
Overall 39 58 51
  • ARE ranked among 149 companies in Property REITs
  • BDN ranked among 149 companies in Property REITs
  • MAA ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAREBDNMAASPY
1 month -18.1%+1.0%+0.3% -0.2%
3 months -24.3%-3.7%-12.5% +3.9%
6 months +1.1%-5.8%-8.9% +8.2%
Year to date -16.5%-0.7%-14.5% +12.9%
1 year -47.5%-19.9%-10.7% +12.3%
3 years -55.4%-22.7%+1.0% +87.4%
3 years, per year -23.6%-8.2%+0.3% +23.3%
5 years -80.2%-78.3%-42.4% +67.9%
5 years, per year -27.6%-26.3%-10.5% +10.9%
10 years -61.1%-80.6%+32.0% +261.1%
10 years, per year -9.0%-15.1%+2.8% +13.7%

Risk

MeasureAREBDNMAASPY
Volatility, 1Y 50.3%35.8%19.8% 12.7%
Downside volatility, 1Y 56.8%34.0%19.2% 12.7%
Beta vs S&P 500, 1Y 0.730.580.05 1.00
Return / volatility, 1Y -0.95-0.56-0.54 0.97
Max drawdown, 5Y -81.9%-83.2%-50.2% -25.4%
From 52-week high -47.5%-19.9%-16.5% -1.2%
52-week high $77.87$3.62$142.19 $779.14
52-week low $40.41$2.47$114.20 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAREBDNMAA
P/E now vs peer median -4.9xmedian 26.3x -3.5xmedian 26.3x 34.5xmedian 26.3x
P/S now vs peer median 2.6xmedian 4.0x 1.0xmedian 4.0x 6.2xmedian 4.0x
EV/EBITDA now vs peer median —median 14.4x 2.9xmedian 14.4x 15.3xmedian 14.4x
P/FCF now vs peer median -15.0xmedian 23.3x 58.2xmedian 23.3x 29.1xmedian 23.3x
P/B now vs peer median 0.4xmedian 1.3x 0.7xmedian 1.3x 2.5xmedian 1.3x
PEG now vs peer median 0.05median 1.91 0.04median 1.91 -2.82median 1.91

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAREBDNMAA
Revenue $2.76B $498.29M $2.22B
Operating income – $73.79M –
Net income -$1.39B -$143.21M $410.71M
Free cash flow -$473.23M $8.70M $473.83M
EPS (diluted) $-8.40 $-0.82 $3.44
Cash & equivalents $508.86M $37.87M $51.84M
Total debt $12.90B $1.07B $21.95B
Shares (diluted) 170.75M 174.38M 116.14M
Enterprise value -$892.77M $326.50M $13.43B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAREBDNMAA
P/E -4.9x -3.5x 34.5x
P/FCF -15.0x 58.2x 29.1x
P/Operating cash flow 6.0x 4.2x 13.6x
P/S 2.6x 1.0x 6.2x
P/B 0.4x 0.7x 2.5x
P/Tangible book 0.4x 0.7x 2.5x
EV/EBITDA – 2.9x 15.3x
EV/EBIT – 10.3x 31.4x
EV/Revenue 6.5x 1.5x 8.8x
EV/FCF -37.8x 87.5x 41.0x
EV/Operating cash flow 15.0x 6.3x 19.2x
PEG (3Y EPS CAGR) 0.05 0.04 -2.82

Growth

14 metrics
MetricAREBDNMAA
Revenue growth (1Y) -9.9% 0.5% 0.8%
Revenue CAGR (3Y) -0.5% -0.7% 1.6%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – 639.1% –
Operating income CAGR (3Y) – -12.4% –
Net income growth (1Y) -339.2% 56.1% -30.0%
Net income CAGR (3Y) -74.6% -97.3% -12.5%
EPS growth (1Y) -239.7% 56.2% -29.0%
EPS CAGR (3Y) -100.7% -97.9% -12.2%
Operating cash flow growth (1Y) -13.7% -18.7% -8.0%
Operating cash flow CAGR (3Y) -9.5% -14.1% -4.2%
Free cash flow growth (1Y) 33.5% -25.6% -12.0%
Free cash flow CAGR (3Y) 43.5% -30.4% -4.5%

Profitability

14 metrics
MetricAREBDNMAA
Gross margin – – –
EBITDA margin – 53.2% 57.1%
Operating margin – 14.8% –
Pretax margin – -28.7% 18.8%
Net margin -52.0% -28.8% 18.0%
FCF margin -17.1% 1.7% 21.4%
Operating cash flow margin 43.0% 24.4% 45.6%
Return on equity -6.6% -20.0% 7.3%
Return on assets -3.6% -4.0% 3.4%
Return on invested capital – 7.3% 5.3%
Return on capital employed – – –
Asset turnover 0.1x 0.1x 0.2x
Cash conversion (OCF / net income) -0.9x -0.9x 2.5x
Stock comp / revenue 1.5% 1.9% 0.9%

Financial Health

11 metrics
MetricAREBDNMAA
Debt / assets 37.9% 8.3% 47.5%
Debt / equity 0.7x 0.4x 1.0x
Net debt / EBITDA – 1.0x 4.5x
Debt / FCF -27.3x 33.7x 12.0x
Liabilities / assets 45.9% 80.3% 53.5%
Equity / assets 54.1% 19.7% 46.5%
Interest coverage – – 3.1x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricAREBDNMAA
Dividend yield 7.0% 11.0% 5.2%
Net buyback yield – 0.4% 0.9%
Shareholder yield 7.0% 11.5% 6.0%
Payout ratio (earnings) -43.0% – 173.3%
Payout ratio (FCF) -126.5% – 150.2%
Dividend growth (1Y) -34.4% – 2.0%
Dividend CAGR (3Y) -10.2% – 5.1%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAREBDNMAA
Forward P/E 26.2xFY2026 – 33.3xFY2026
EPS, next fiscal year $1.56FY2026 $-0.81FY2026 $3.57FY2026
EPS growth, next FY – – -5.6%FY2026
EPS growth, the year after -150.6% – -9.0%
Revenue, next fiscal year $2.71BFY2026 $512.58MFY2026 $2.29BFY2026
Revenue growth, next FY -8.2%FY2026 +12.0%FY2026 +3.8%FY2026
Revenue growth, the year after -13.7% -15.9% +1.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAREBDNMAA
Held by institutions 97.2% 73.2% 97.1%
Institutions holding 595 232 771
Change in shares held, QoQ +14.1% +2.5% +8.2%
Institutions buying 336 130 395
Institutions selling 191 68 262
Buyers to sellers 1.76 1.91 1.51

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AREBDNMAA
ARE 1.00 0.41 0.33
BDN 0.41 1.00 0.40
MAA 0.33 0.40 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARE, BDN and MAA?

Mid America Apartment Communities (MAA) is the largest by market capitalisation: Alexandria Real Estate Equities (ARE) $6.70B, Brandywine Realty Trust (BDN) $508.33M, Mid America Apartment Communities (MAA) $13.64B.

Which company is growing faster?

Mid America Apartment Communities (MAA) grew revenue fastest over the trailing twelve months: Alexandria Real Estate Equities (ARE) -9.9%, Brandywine Realty Trust (BDN) +0.5%, Mid America Apartment Communities (MAA) +0.8%.

Which company is more profitable?

Mid America Apartment Communities (MAA) has the highest net margin (Alexandria Real Estate Equities (ARE) -52.0%, Brandywine Realty Trust (BDN) -28.8%, Mid America Apartment Communities (MAA) 18.0%). On return on invested capital, Brandywine Realty Trust (BDN) leads (Brandywine Realty Trust (BDN) 7.3%, Mid America Apartment Communities (MAA) 5.3%).

Which stock has performed better?

Over the past year Mid America Apartment Communities (MAA) returned the most: Alexandria Real Estate Equities (ARE) -47.5%, Brandywine Realty Trust (BDN) -19.9%, Mid America Apartment Communities (MAA) -10.7%. Over five years, Mid America Apartment Communities (MAA) compounded fastest (Alexandria Real Estate Equities (ARE) -27.6%/yr, Brandywine Realty Trust (BDN) -26.3%/yr, Mid America Apartment Communities (MAA) -10.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Alexandria Real Estate Equities (ARE) has the highest dividend yield: Alexandria Real Estate Equities (ARE) 0.09%, Brandywine Realty Trust (BDN) 0.00%, Mid America Apartment Communities (MAA) 0.05%. Brandywine Realty Trust (BDN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Mid America Apartment Communities (MAA) has been the steadiest (Alexandria Real Estate Equities (ARE) 50.3%, Brandywine Realty Trust (BDN) 35.8%, Mid America Apartment Communities (MAA) 19.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ARE, BDN and MAA?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Mid America Apartment Communities (MAA) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.