MAA Stock Rises 27.2% in 6 Months: Will the Trend Continue?

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Shares of Mid-America Apartment MAA, which is commonly known as MAA, have rallied 27.2% in the past six months, outperforming the industry's growth of 17.3%. This residential real estate investment ...

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However, the reported figure fell 3.5% year over year.This Sunbelt-focused apartment REIT opts for opportunistic investments to maintain the right product mix and raise the number of apartment communities in dynamic markets. As of the end of the third quarter of 2024, it had eight communities under development. Amid the growing demand for apartmen","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IRT":"Independence Realty Trust Inc","BK4588":"碎股","ELS":"宜居生活资产信托","REIT":"ALPS Active REIT ETF","MAA":"MAA房产信托","BK4228":"单户式住宅房地产信托","BK4215":"住宅房地产投资信托","BK4585":"ETF&股票定投概念"},"translate_title":"MAA股价6个月内上涨27.2%：趋势会持续吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ELS":1,"IRT":1,"MAA":1,"REIT":1},"content_text":"Shares of Mid-America Apartment MAA, which is commonly known as MAA, have rallied 27.2% in the past six months, outperforming the industry's growth of 17.3%.\nThis residential real estate investment trust (REIT), engaged in owning, acquiring, operating and selectively developing apartment communities, primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States, is poised to gain from the favorable in-migration trends of jobs and households in these submarkets.\nLast month, this Zacks Rank #3 (Hold) company reported third-quarter 2024 core funds from operations (FFO) per share of $2.21, which surpassed the Zacks Consensus Estimate of $2.18. However, the reported figure fell 3.5% year over year.\nImage Source: Zacks Investment Research\nLet us decipher the possible factors behind the surge in the stock price.\nMid-America Apartment gains from its well-diversified Sun Belt-focused portfolio. The favorable in-migration trends of jobs and households in these submarkets keep renter demand up. Also, the high pricing of single-family ownership units in a still elevated interest rate environment continues to drive the demand for rental apartments. Due to this, MAA is expected to continue maintaining a high level of occupancy in the upcoming period.\nThis Sunbelt-focused apartment REIT opts for opportunistic investments to maintain the right product mix and raise the number of apartment communities in dynamic markets. As of the end of the third quarter of 2024, it had eight communities under development. Amid the growing demand for apartment housing across its Sunbelt markets, the company’s focus on its development pipeline is a strategic fit.\nMAA continues to implement its three internal investment programs — interior redevelopment, property repositioning projects and Smart Home installations. The programs will help the company capture the upside potential in rent growth, generate accretive returns and boost earnings from its existing asset base.\nMAA enjoys a solid balance sheet, with low leverage and ample availability under its revolving credit facility. As of Sept. 30, 2024, MAA had $805.7 million of combined cash and available capacity under its unsecured revolving credit facility. It also has a low Net Debt/Adjusted EBITDAre ratio of 3.9. In the third quarter of 2024, it generated 95.8% unencumbered net operating income, providing the scope for tapping additional secured debt capital if required. Hence, the company is well-positioned to bank on growth opportunities.\nSolid dividend payouts are arguably the biggest enticements for REIT shareholders, and MAA remains committed to that. In the last five years, MAA has increased its dividend seven times, and its five-year annualized dividend growth rate is 10.48%. Backed by healthy operating fundamentals, its dividend distribution becomes sustainable.\nRisks Likely to Affect MAA’s Positive Trend\nCompetition in the residential real estate market with various housing alternatives like manufactured housing, condominiums and the new and existing home markets is concerning. This affects the company’s power to raise the rent or increase occupancy, as well as leads to aggressive pricing for acquisitions.\nAlthough MAA’s robust development and redevelopment pipeline is encouraging for long-term growth, supply-chain constraints could lead to cost overruns. This is likely to weigh on the company’s profitability.\nStocks to Consider\nSome better-ranked stocks from the residential REIT sector are Equity Lifestyle Properties ELS and Independence Realty Trust IRT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for Equity Lifestyle’s 2024 FFO per share is pegged at $2.92, suggesting year-over-year growth of 6.2%.\nThe Zacks Consensus Estimate for Independence Realty Trust’s 2024 FFO per share stands at $1.14, indicating a marginal decrease from the year-ago reported figure.\nNote: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nMid-America Apartment Communities, Inc. (MAA) : Free Stock Analysis Report\nEquity Lifestyle Properties, Inc. (ELS) : Free Stock Analysis Report\nIndependence Realty Trust, Inc. (IRT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2487599394"}