Interest Rate-Driven Rally Leaves Mid-America Apartment Less Attractive (Rating Downgrade)
MAAMAA(MAA) Seeking Alpha·2024-09-12 21:33

Art Wager/E+ via Getty Images Shares of Mid-America Apartment (NYSE:MAA) have rallied strongly of late as we have seen interest rates begin to decline and hopeful signs that pressures on apartment rental rates are nearing their end. I last covered Mid-America in March, rating shares a "buy," and since then, the stook has returned 31%, well alread of the market's 8% gain. I have viewed MAA's Sun Belt exposure as a long-term positive despite recent headwinds, but given the magnitude of the rally, now is a goo ...