Janney Montgomery Scott Analyst Robert Stevenson says Mid-America Apartment Communities Inc (MAA) is his favorite name in the REIT space. He says they are one of the better Class B, B-plus apartment owners and operators in the Southeast Sun Belt markets to Texas.
“They have major concentrations in markets like Atlanta and Charlotte and Austin, an inexpensive valuation, and peer group average same-store NOI growth in 2015,” Stevenson says.
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Mid-America Apartment Communities continues to upgrade the quality of its portfolio via acquisitions as well as through dispositions, Stevenson says. He expects to see continued operating upside from the Colonial assets Mid-America acquired in 2013.
“All of that, especially at current valuation levels, makes it our favorite name in the space,” Stevenson says.
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