Mid-America Apartments Q4: Attractive Even With 2024 Headwinds [Seeking Alpha]
Mid-America Apartment Communities, Inc. (MAA)
Last mid-america apartment communities, inc. earnings: 1/29 04:16 pm
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US:NYSE Investor Relations:
ir.maac.com
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Source: Seeking Alpha
Q4 results showed deceleration in revenue growth and a decline in average effective rents, indicating a near-term top in the rental market. MAA expects the decline in rental rates to moderate in 2024, but a return to growth is unlikely before 2025. Despite challenges, MAA has a strong balance sheet and offers a 4.7% dividend yield. Like many real estate centric stocks, Mid-America Apartments ( NYSE: MAA ) has been a material underperformer over the past year, losing about one-fifth of its value. Higher interest rates have weighed on real estate valuations and reduced the attractiveness of dividend-oriented stocks. Additionally, apartment REITs have come under pressure as two years of blistering rent growth have given way to declines amidst new supply. Shares are unchanged since my September update where I rated MAA a buy, lagging the market. Q4 results and importantly, 2024 guidance have disappointed, but I believe investors should stick with MAA given longer-term fundamentals.
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MAA
News
- Mid-America Apartment Communities (MAA) Q1 FFO Lag Estimates [Yahoo! Finance]Yahoo! Finance
- MAA REPORTS FIRST QUARTER 2024 RESULTS [Yahoo! Finance]Yahoo! Finance
- MAA REPORTS FIRST QUARTER 2024 RESULTSPR Newswire
- Global Real Estate Industry Guide 2024: Size, Growth, Major Segments, and Leading Players [Yahoo! Finance]Yahoo! Finance
- What Awaits Mid-America Apartment (MAA) This Earnings Season? [Yahoo! Finance]Yahoo! Finance
MAA
Earnings
- 5/1/24 - Beat
MAA
Sec Filings
- 4/9/24 - Form ARS
- 4/8/24 - Form DEFA14A
- 4/8/24 - Form DEF
- MAA's page on the SEC website