Mid-America Apartment (MAA) Up 13.6% YTD: Will It Rise Further?

Shares of Mid-America Apartment (MAA) (also known as MAA) have rallied 13.6% year to date, outperforming the industry's growth of 9.3%. Last month, MAA reported second-quarter 2024 core funds from operations (FFO) per share of $2.22, which surpassed the Zacks Consensus Estimate of$2.20. Results reflected healthy demand despite elevated new supply and growth in the average effective rent per unit for the same-store portfolio. The company also experienced low levels of resident turnover. However, an increase ...