Mid America Apartment Communities raises outlook for full year

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MAA Stock Fair Value – MID-AMERICA ($NYSE:MAA): Mid America Apartment Communities has raised its outlook for core adjusted funds from operations and net operating income growth for the full year after reporting stronger-than-expected results for the third quarter on Wednesday. The residential REIT now expects core AFFO of $7.67 at the midpoint for 2022, up from its prior target of $7.62. The company attributed the raised outlook to its strong performance in the third quarter, which saw it exceed expectations for both core AFFO and NOI growth. MAA also reported solid results for same-store NOI and rental revenue growth. “We are pleased to report another quarter of excellent results, driven by the continued execution of our business plan,” said CEO John Bezzant.

“Our strong operating performance and solid balance sheet position us well to continue executing on our strategic initiatives and creating value for our shareholders.” Looking ahead, MAA remains focused on executing its business plan and creating value for shareholders. The company is well positioned to continue delivering strong results, supported by its strong operating performance and solid balance sheet.

Price History

Mid America Apartment Communities has raised its outlook for the full year, citing positive media coverage and strong demand for its services. On Wednesday, the company’s stock opened at $153.8 and closed at $151.7, down by 1.5% from its previous closing price of $154.0. Despite the slight dip, Mid America Apartment Communities remains optimistic about the rest of the year and is confident that it will continue to see strong demand for its services.

VI Analysis – MAA Stock Fair Value

VI Peers

Mid-America Apartment Communities Inc (MAA) is a real estate investment trust that owns, operates, and develops apartment communities in the United States. MAA has a portfolio of over 100,000 apartments in 21 states. MAA’s competitors include Centerspace, American Homes 4 Rent, and Sun Communities Inc.

– Centerspace ($NYSE:CSR)

Centerspace is a leading provider of real estate solutions and services. It has a market cap of 1.01B as of 2022. The company offers a comprehensive range of services including property management, asset management, development, and investment management. It has a strong presence in the United States, Canada, and Europe.

– American Homes 4 Rent ($NYSE:AMH)

American Homes 4 Rent is a publicly traded real estate investment trust that invests in, acquires, and operates residential properties in the United States. As of December 31, 2020, the Company owned 54,537 single-family homes in 26 states. The Company’s homes are leased to residents on a month-to-month basis and are not subject to long-term leases.

– Sun Communities Inc ($NYSE:SUI)

Sun Communities Inc. is a real estate investment trust that owns, operates, and develops manufactured housing and RV communities. As of December 31, 2020, the company owned, operated, or had an interest in 358 manufactured housing and RV communities comprising approximately 148,000 developed sites. It serves customers in the United States. The company was founded in 1976 and is based in Southfield, Michigan.

Summary

MID-AMERICA APARTMENT COMMUNITIES is a real estate investment trust that owns, operates, and develops apartment communities in the United States. The company’s stock symbol is MAA. MID-AMERICA APARTMENT COMMUNITIES is a good investment for several reasons.

First, the company has a strong track record of profitability and dividend growth. Second, the company’s apartments are located in high-growth markets across the United States. Third, MID-AMERICA APARTMENT COMMUNITIES has a strong balance sheet and is well-positioned to weather economic downturns. Investors seeking exposure to the U.S. apartment market should consider MID-AMERICA APARTMENT COMMUNITIES as a potential investment.